Briefly

Grid builds 2 pumped storage projects

State Grid Corp of China started construction of two pumped storage projects on Thursday in Zhejiang and Jiangxi provinces to push forward the country's green energy transition. The two pumped storage projects have a total installed capacity of 2.4 million kilowatts. With a total investment of more than 14.77 billion yuan ($2.33 billion), the two projects are expected to be put into operation by 2030, said the company.

Prices of gasoline, diesel up by 700+ yuan

China will raise retail prices of gasoline and diesel from Thursday midnight, the country's top economic planner said on Thursday. Based on recent changes in international oil prices, retail prices of gasoline and diesel will be increased by 750 yuan ($118) and 720 yuan per metric ton, respectively, according to the National Development and Reform Commission. Domestic fuel prices will remain unchanged, or barely change, when the price of crude oil on global markets hits $130 a barrel, it said.

Xinhua