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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
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