TOKYO -(Dow Jones)- China faces its worst power shortage in at least four years as soaring coal prices and government-set electricity tariffs force dozens of small power plants to shut down rather than face mounting losses, the Financial Times reported Thursday. Nearly half of China's provinces have started to ration electricity as the country enters the peak summer season, facing what analysts describe as its worst coal shortage, the paper said. Analysts warn this year's electricity shortfall could be more severe than in 2004, when the country was affected by its worst power shortage ion decades because of soaring demand for power as the economy boomed. Coal prices in China have double since the start of the year. Beijing last month imposed price controls on thermal coal bought directly from mines but spot market prices continued to rise. About 38% of China's coal supply last year came from small-scale operations. Many of these have since been closed by the government in an attempt to improve safety conditions in the sector, the FT said. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=tbcz0xXX1Jauzo6mglEnJg%3D%3D. You can use this link on the day this article is published and the following day.
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