China's National Development and Reform Commission (NDRC) said Tuesday it had set the benchmark on-grid nuclear power price at 0.43 yuan ($0.07) per kilowatt-hour to boost the healthy development of the nuclear power sector.

The benchmark on-grid nuclear power price will remain relatively stable, but is subject to adjustment in accordance with technological developments, cost changes, and supply and demand in the power market, the NDRC said in a statement.

The introduction of the benchmark rate will facilitate investment in the nuclear power sector and encourage enterprises to control costs, according to the commission.