Chalco offered discount by state grid

Aluminum Corp. of China Ltd. is trialing a discount power offer from China State Grid Corp. after authorities allowed direct negotiations, China Securities Journal stated, without disclosing where it obtained the information.

Aluminum Corp., known as Chalco, will pay between 0.03 yuan and 0.06 yuan per kilowatt hour to State Grid for the power transmission costs, the newspaper said. The agreement also needs local government approval, according to the report.

China's power authorities last week allowed buyers to negotiate electricity and transmission costs directly with generators and grid companies. The authorities allowed users discounts of as much as 20% from grid companies.

Zhang Qing, a spokeswoman at Beijing-based Chalco, expressed she wasn't aware of the agreement. Liu Qiang, company secretary, wasn't immediately given his comments.

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