Changfeng Energy Inc. (CFY.V: Quote) announced that it has received regulatory approval to increase natural gas sale price to its non- residential customers in Sanya City, Hainan province, China, effective on November 24, 2012.
 
With the approval, the selling price to its non-residential customers will be increased to RMB 4.70 M from currently RMB 3.8 M, representing an increase of approximately 24% over current price. The selling price to its residential customers will remain unchanged.
 
The company said its non-residential customers include both its commercial and industrial customers, mainly comprising of the hotels, resorts and restaurants in Sanya City. Currently, approximately 80 percent of the total annual volume of gas in Sanya City is sold to these non-residential customers.
 
SOURCE: rttnews.com
 
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