China’s Factory Hub Faces Gas Price Shock as War Tightens Supply

MarketsChina’s Factory Hub Faces Gas Price Shock as War Tightens SupplyFacebookXLinkedInEmailLinkGiftFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Bloomberg NewsApril 23, 2026 at 2:51 AM UTCBookmarkSaveThe Chinese industrial hub of Guangdong, an economic powerhouse comparable in size to South Korea, has seen some electricity prices almost double due in part to constraints on the supply of natural gas from the Middle East. The coastal province hosts the country’s largest fleet of gas-fired power stations, leaving it particularly vulnerable to a war that has choked-off shipments from the Persian Gulf. Spot rates climbed to nearly 680 yuan ($100) per megawatt-hour on April 14 — a three-year high — from an average of around 350 yuan in the previous month.