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Shanxi electricity companies, industry body hit with $10.9 million in fines for fixing prices

By MLex Staff ( August 3, 2017, 02:50 GMT | Insight) -- The Shanxi branch of China's National Development and Reform Commission has fined the Shanxi Provincial Electric Power Association and 23 local power companies a total of 73.38 million yuan ($10.9 million) for entering into price-fixing agreements for the supply of electricity in the northern province. The NDRC said that local branches of eight state-owned power operators and 15 other companies had held meetings in the city of Taiyuan and signed agreements to set power prices.The Shanxi branch of China's National Development and Reform Commission has fined the Shanxi Provincial Electric Power Association and 23 local power companies a total of 73.38 million yuan ($10.9 million) for entering into price-fixing agreements for the supply of electricity in the northern province....

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