China to charge more on green energy subsidy

China will raise tariffs on subsidies for renewable energy from Sep 25, the country's economic planner said.

The price adjustment will exclude residential and agricultural power, Xinhua quoted the National Development and Reform Commission as saying.

The cost for renewable energy is relatively high and international practice is to subsidise the sector, said Li Caihua, deputy head of pricing at the commission.

The hike will allow the commission to collect an additional $3.24 billion annually, though there is still a shortfall in its supply in recent years.

The pricing will mainly be made at wholesale levels and and it will not affect the retail prices, Li added.