{"id":59547,"date":"2021-09-27T12:25:16","date_gmt":"2021-09-27T17:25:16","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59547"},"modified":"2021-09-27T12:26:31","modified_gmt":"2021-09-27T17:26:31","slug":"millions-of-chinese-residents-lose-power-after-widespread-unexpected-blackouts-power-company-warns-this-is-new-normal","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59547","title":{"rendered":"Millions Of Chinese Residents Lose Power After Widespread, &#8220;Unexpected&#8221; Blackouts; Power Company Warns This Is &#8220;New Normal&#8221;"},"content":{"rendered":"<header class=\"ArticleFull_header__11o5_\">\n<h3 class=\"ArticleFull_title__2cUI6\"><a href=\"https:\/\/www.zerohedge.com\/markets\/millions-chinese-residents-lose-power-after-widespread-unexpected-blackouts-power-company\">Millions Of Chinese Residents Lose Power After Widespread, &#8220;Unexpected&#8221; Blackouts; Power Company Warns This Is &#8220;New Normal&#8221;<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__38L44\">\n<div class=\"NodeContent_body__2clki NodeBody_container__1M6aJ\">\n<p>Just yesterday we warned that a &#8220;Power Supply Shock Looms&#8221; as the energy crisis gripping Europe &#8211; and especially the UK &#8211; was set to hammer China, and just a few hours later we see this in practice as residents in three north-east Chinese provinces experienced unannounced power cuts as the electricity shortage which initially hit factories spreads to homes.<\/p>\n<p>People living in Liaoning, Jilin and Heilongjiang provinces complained on social media about the lack of heating, and lifts and traffic lights not working.<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1442108700731133960&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fmillions-chinese-residents-lose-power-after-widespread-unexpected-blackouts-power-company&amp;sessionId=43545db1f48406e50369a85f3a46fd7fd5a3ed6d&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=1890d59c%3A1627936082797&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1442108700731133960\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<div class=\"Advert_desktop__1J5vD Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_placement__1I4yb Advert_align__N0_fw\">\n<aside id=\"in-content-video\" class=\"Advert_verticallySpaced__wnPy3\" data-google-query-id=\"CL2B5fDTn_MCFQjKhwod228HfQ\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\">Local media in China &#8211; which is highly dependent on coal for power &#8211; said the cause was a surge in coal prices leading to short supply. As shown in the chart below, Chinese thermal coal futures have more than doubled in price in the past year.<\/div>\n<\/aside>\n<\/div>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/China%20thermal%20coal%20futs.jpg?itok=Yyo73iSA\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/China%20thermal%20coal%20futs.jpg?itok=Yyo73iSA\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/China%20thermal%20coal%20futs.jpg?itok=Yyo73iSA\" alt=\"\" width=\"500\" height=\"251\" data-entity-type=\"file\" data-entity-uuid=\"1ab311c4-5f05-46cd-ba96-d75045396cab\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>There are several reasons for the surge in thermal coal, among them already extremely tight energy supply globally (that&#8217;s already seen chaos engulf markets in Europe); the sharp economic rebound from COVID lockdowns that has boosted demand from households and businesses; a warm summer which led to extreme air condition consumption across China; the escalating trade spat with Australia which had depressed the coal trade and Chinese power companies ramping up power purchases to ensure winter coal supply. Then there is Beijing&#8217;s pursuit of curbing carbon emissions &#8211; Xi Jinping wants to ensure blue skies at the Winter Olympics in Beijing next February, showing the international community that he&#8217;s serious about de-carbonizing the economy &#8211; that has led to artificial bottlenecks in the coal supply chain.<\/p>\n<p>Whatever the reason, it&#8217;s just getting started: as\u00a0<a href=\"https:\/\/www.bbc.com\/news\/world-asia-china-58704221\">BBC reported,\u00a0<\/a>one power company said\u00a0<strong>it expected the power cuts to last until spring next year,\u00a0<\/strong>and that unexpected outages would become &#8220;<em><strong>the new normal.&#8221;<\/strong><\/em>\u00a0Its post, however, was later deleted.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<div class=\"Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_placement__1I4yb Advert_align__N0_fw\">\n<aside id=\"in-content-1\" class=\"Advert_centered__2tRj9 Advert_verticallySpaced__wnPy3\" data-google-query-id=\"CJLg6PbTn_MCFYfRhwodqjEKng\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_1_0__container__\"><\/div>\n<\/aside>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Millions Of Chinese Residents Lose Power After Widespread, &#8220;Unexpected&#8221; Blackouts; Power Company Warns This Is &#8220;New Normal&#8221; Just yesterday we warned that a &#8220;Power Supply Shock Looms&#8221; as the energy crisis gripping Europe &#8211; and especially the UK &#8211; was set to hammer China, and just a few hours later we see this in practice [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[130,141,15792,1575,31854,4318],"class_list":["post-59547","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-china","tag-climate-change","tag-fuel-shortages","tag-power-loss","tag-power-shortages","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59547"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59547\/revisions"}],"predecessor-version":[{"id":59548,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59547\/revisions\/59548"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}