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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
 Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but involve relatively small steps or lack specifics to support a meaningful improvement in the short-term. There are entrenched structural issues affecting the performance of the power sector of India and the solution would require a sustained and disciplined policy focus.
Fitch Ratings further said in its latest report that, the Indian budget for FY15, the finance minister announced several measures for the power sector. These include an extension of the tax holiday for power projects to March 2017 from March 2015, which we consider to be positive for investment activity. The budget also called for the provision of adequate quantity of coal to power plants commissioned by March 2015. However, the budget lacked very specific measures detailing how this will be achieved.
Fitch believes that it will not be possible to raise the production of coal significantly within a year. Aside from inadequate domestic production, infrastructure bottlenecks such as rail infrastructure also continue to act as a constraint to ensuring adequate coal supplies to power plants. Among the announced measures is the rationalisation of coal linkages to reduce transportation costs of coal; while this is a good measure, we believe such a reallocation of coal resources would have operational issues and can take some time to achieve.
Domestic coal production is much lower than the requirements of the power sector, and hence we think the coal shortage at various power plants will continue. India's total coal based power capacity at April 2014 was around 140 gigawatts (GW). This is expected to increase by around 15GW per year, which would require an additional 60 million tonnes of coal. There needs to be a sustained and long term plan in order to consistently increase domestic coal production.
The new administration has intensified pressure on Coal India Limited to improve its coal delivery. At the same time, the agency understands the government may revive coal pooling (i.e. pooled prices by combining both domestic and imported coal) as the country will have to import higher quantities of coal to support demand given that domestic production may be slow to ramp-up.
India also has around 20GW of gas based power plants which are severely affected due to the low availability of domestic gas. The budget also focuses on the renewable sector - most notably solar - for which there is an allocation of INR10bn for setting up solar plants in a few states and solar power driven agricultural pump sets.
The entire ecosystem of the power sector - from generation to distribution - needs to be strengthened. The financial health of the various state utilities needs to be improved through tariff rationalization and by addressing transmission and distribution losses.
About Fitch Ratings
For 100 years, Fitch Ratings has been making the future a little more predictable through independent and prospective credit ratings, commentary and research. Our global expertise draws on local market knowledge and spans the fixed-income universe. The additional context, perspective and insights we provide have helped the world’s investors fund a century of growth.
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
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