Tianfu Energy to benefit from electricity price adjustment

Xinjiang Tianfu Energy (SSE:600509) announced it received notice from the Xinjiang Production and Construction Corps regarding adjustments to electricity pricing. Effective January 1, 2025, the price paid to State Grid Xinjiang Electric Power Co., Ltd. will uniformly decrease to RMB 0.305 per kilowatt-hour. The announcement details adjustments to agricultural and industrial electricity sales prices across various divisions, with specific rates varying by voltage level. Optimizations also target capacity-based pricing for selected divisions. Tianfu Energy estimates the changes will reduce electricity revenue by RMB 157.35 million but will offset costs. The company believes that it will form a stable profit model for the future.