BEIJING—Earnings for China’s power utilities during the first three quarters of 2021 have plunged as the companies were squeezed by surging coal costs that they could not pass on to consumers.
Huadian Power International, a subsidiary of China Huadian Corp., on Tuesday reported profits for the January-September period dropped 58 percent from a year earlier to 1.6 billion yuan ($251 million) with a third-quarter loss of 1.8 billion yuan.
