Costlier coal hits Huaneng hard

Huaneng Power International Inc posted a net loss of 3.9 billion yuan in 2008 on soaring coal costs, compared with a net profit of 6.1 billion yuan in 2007.

China's largest listed power producer by capacity showed operating revenue of 67.6 billion yuan last year, up by 35.8 percent from 2007, Huaneng said in a statement to the Hong Kong stock exchange yesterday.

"Owing to the impact of the drastic surge in international energy prices and tight supply of coal in the domestic market, domestic coal prices were at a record high in 2008. It put tremendous pressure on the company's operations," Huaneng said in the statement.