Financial Wire

Shanghai Electric Power Logs 5% Decline in Q1 Power Generation

-- Shanghai Electric Power (SHA:600021) generated 18.5 billion kilowatt-hours in the first quarter, down 4.6% year over year.

The decline was mainly due to the impact of maintenance schedules for thermal power units and market supply-demand conditions, according to a Tuesday filing with the Shanghai bourse.

Coal-fired power output slipped 3.6% year on year to 12.3 billion kWh, while gas-fired power output fell 19% to 1.69 billion kWh.

Wind power generation slid 2.2% to 2.90 billion kWh, while photovoltaic power generation rose 1.2% to 1.61 billion kWh.

Shares of the power company declined 1% in recent trade.

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