A worker operates equipment at an electrolyte production line of a new energy material company at Huazhou District of Weinan City, northwest China's Shaanxi Province, Feb. 22, 2020. Besides working on prevention and control of the novel coronavirus pneumonia, the company has stepped up production to ensure raw material supplies to customers at home and broad amid strict prevention and control measures against the novel coronavirus. (Xinhua/Tao Ming)

The electricity price of enterprise users except those in high energy consuming sectors will be cut by 5 percent from Feb. 1 to June 30, China's economic planner said on Saturday.

The price reduction policy can benefit about 50 million users, accounting for about three quarters of all industrial and commercial users, the National Development and Reform Commission said.

It will cut the electricity consumption cost of enterprises by about 44 billion yuan (6.29 billion US dollars) from February to June.

The supportive two-part tariff will be implemented in the same period and is expected to save about 15 billion yuan for enterprises in electricity costs.

Meanwhile, the off-season natural gas price policy will be implemented in advance.

The off-season price policy usually will be implemented from mid-March to mid-November. This time, the off-season natural gas price policy will be implemented in advance and more price concessions will be given before the end of June, according to the economic planner.