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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
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