China has announced a new nuclear power pricing system that features a national benchmark price, which will make the industry more market-oriented and promote technological innovation and cost controls, experts said on Monday.

The National Development and Reform Commission, the top economic planner, has informed all provincial governments, nuclear power generation companies and grid operators of the benchmark price for electricity from new nuclear power stations.

The price, which applies to any plant that begins operation after Jan 1 this year, is 0.43 yuan (7 US cents) per kilowatt-hour. The aim is to achieve rational investment in nuclear power and healthier, sustainable development of the sector.