China is introducing a coal power capacity pricing mechanism starting from January 1st, 2024, according to an announcement made by the National Energy Administration on November 10th. This new capacity price will be determined from a fraction of the investment cost of the coal power station, which has been set nationally at $45 million per GW per year. This is intended to see coal projects recover 30% of their fixed costs initially (so a $13.5 million per GW per year payment), rising to 50% from 2026. These are minimum values with regional variation – the investment cost standard is national, but the fraction to be paid can be increased locally in areas with high prevalence of intermittent capacity. This will…