Major Chinese state-controlled coal producer China Coal has signed contracts with major utilities for supplies over the next five years. The move is aimed at ensuring stable coal supplies to power plants, and is also in line with recent government efforts to reduce the amount of coal bought in spot markets. China Coal plans to supply more than 500mn t of coal in 2019-23 to utilities operated by state-controlled power generators Huaneng, Datang, Huadian, State Power Investment, China Resources and SDIC Power through the contracts. The producer will deliver more than 97mn t of this coal to the utilities in 2019, and the volume will increase slightly each year from 2020-23.
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