Hong Kong A growing power supply crunch in China is triggering blackouts for households and forcing factories to cut production, threatening to slow the country’s vast economy and place even more strain on global supply chains. Companies in the country’s industrial heartlands have been told to limit their energy consumption in order to reduce demand for power, state media has reported. And supply has been cut to some homes, reportedly even trapping people in elevators. An “unexpected and unprecedented” power cut hit three northeastern provinces on Monday, according to the Global Times, a state-run tabloid. The newspaper reported Tuesday that power rationing in Heilongjiang, Jilin and Liaoning provinces has “resulted in major disruptions to the daily lives of people and business operations.” Power shortages have also hit the southern province of Guangdong, a major industrial and shipping hub. Local officials said Monday that many firms are trying to reduce demand by working two or three days per week. China’s State Grid Corporation said Monday that it would “go all out to fight the tough battle of power supply,” making every effort to secure residential consumption. China was hit by a similar power crunch in June, but the situation is getting worse because of a perfect storm. Its industries are facing huge pressure from soaring energy prices, and from Beijing to tackle carbon emissions. Major international suppliers are bracing for impact on businesses already confronting delays caused by shortages and global shipping delays. The shock is even prompting economists to cut growth expectations this year for the world’s second largest economy. The post-pandemic commodities boom and ambitious climate targets, meanwhile, have driven coal prices sky high, given the increase in demand and decrease in mining. Hu pointed out that the price of thermal coal — which is primarily used to generate power — has surged this year from 671 yuan ($104) per ton to roughly 1,100 yuan ($170). It doesn’t help that trade tensions with Australia have caused China to put up barriers to importing coal from that country. Hu pointed out that the Chinese government is targeting a 3% drop in “energy intensity” per unit of GDP this year. In August, China’s National Development and Reform Commission (NDRC) called out nearly every major Chinese region and told them to curb or monitor their energy consumption and intensity through the rest of the year. Nine of China’s nearly three dozen provinces and regions increased energy intensity in the first half of the year, according to the agency. That included Guangdong province in southern China, a major factory hub where one wood mill recently lowered capacity by more than half because of power limits, according to the Global Times. Another 10 provinces — including Heilongjiang and Liaoning — did not meet energy requirements, the NDRC said in its August announcement. “Beijing’s unprecedented resolve in enforcing energy consumption and intensity limits could result in invaluable long-term gains, but the short-term costs to both the real economy and financial markets are substantial,” wrote the Nomura analysts. NN: Carbon initiatives have resulted in countries taking the green plunge, Before they fully understood the grave limits of wind,solar and hydro electric. Wind does not always blow, the sun does not always shine and sometimes it does not rain. And its GOD who decides. And HE does not care if greenniewinnies believe in him or not. Net result sky rocketing prices for fossil fuels, global energy shortages AND more pollution in spite of the trillions spent on the green wet dream….. And to really piss them off more power is generated by coal then everer…. I think that is called negative progress