Eleven coal-fired power plant companies in China have petitioned the Beijing municipal government for permission to charge a higher price for electricity – pointing out that the cost of buying coal alone now exceeds their revenues in the Beijing-Tangshan-Tianjin region. The main cause of the constant rapid rise in coal prices during the past twelve months is the worldwide economic recovery, especially in the electricity generation, steelmaking and construction sectors. In China’s case, prices have also been pushed up by sanctions on Australian coal and the Coronavirus-motivated temporary closure of the Mongolian border, as well as by domestic production controls. Last week S&P Platts reported that the metallurgical coal price in China had reached $470 per ton, compared to $182…