China is set to create the world's largest power utility company. The State Council has approved the merger of power producer China Guodian Group and coal giant Shenhua Group. China's State-owned Assets Supervision and Administration Commission announced the deal on Monday in a one-line statement. No other details have been announced at this point, but sources said the new company will be named National Energy Investment Group and have assets over 1,800 billion yuan or over 270 billion dollars. Consultant firm Wood Mackenzie said, the combined capacity of the two will reach over 225 gigawatts. That would make it the biggest power company in the world by capacity. Guodian will also able to gain control of coal supplies to help manage its price risks. Shares in Guodian and Shenhua have been suspended for almost three months -- but Shenhua's HK listed shares added 2% on Monday.