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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
 COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindustan Times.
The Hindustan Times further reported, the coal supplier, Panem, had curtailed the supplies while demanding an increased price, forcing to Power Corporation to resort to load-shedding.
The move will burden the consumers by Rs. 500 crore to Rs. 700 crore (approximately US$ 82,706,150 to US$ 115,788,610) as the imported coal is costlier. The cost of fuel variation is always passed on to consumer by imposing fuel surcharge.
The memorandum put in the board of directors (BoD) admits the decision will increase the cost of generating electricity, the paper said.
Instead of resolving the matter with Panem, a case was put up before the BoD of the PSPCL to buy imported coal and it was approved.
According to Hindustan Times, the PSPCL has taken the decision despite knowing well that the former Punjab State Electricity Board had a bitter experience as it had discontinued the import of coal supplies in 2006.
According to the memorandum, the PSPCL BoD has approved buying of 1.2 million metric tonne of coal costing Rs. 9,300 (approximately US$ 153.83) per metric tonne with an overall cost of Rs. 1,100 crore (approximately US$ 181,953,530). The imported coal will have 6,300 Kcal (per kg) gross calorific value (GCV). It’s higher than the coal being used by the PSPCL at present, which has 4,000 Kcal (per kg) and costs Rs. 3,700 (approximately US$ 61.20) per metric tonne.
The coal is almost two times costlier when we compare it with the GCV, but we have to bite the bullet to check the blackmailing by the Indian coal supplier, said a BOD member, adding that ultimately it was the consumer who would suffer.
The decision will have technical ramifications as the PSPCL plants run on coal having up to 4,000 kcal/kg of coal. Thus, the PSPCL has to blend the imported coal with Indian coal to adjust its calorific value. “The PSPCL will blend the Indian coal and the imported coal in the ratio of 82 and 18 to run the plants,” a BOD member said, adding that it would increase the power generation cost by 50 to 60 paise (approximately US$ 0.01) per unit, which would be borne by the consumer, the paper further said.
Panem has curtailed supplies to the PSPCL by 50 percent this year, leading to a coal crisis.
The Hindustan Times further said, Panem holds the contract for operating the PSPCL’s captive coal mine in Jharkhand. The company has already invoked arbitration proceedings against the PSPCL, demanding higher coal rates.
However, the decision to import coal has to be cleared by the power regulator.
The PSPCL will move the Punjab State Power Regulatory Commission in the coming days, to get the nod for buying imported coal, said Hindustan Times.
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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Price Waterhouse Coopers - Russia
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- Eastern Coal Council - USA
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- Economic Council, Georgia
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- Energy Development Corp, Philippines
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- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
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- TNB Fuel Sdn Bhd - Malaysia
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- SN Aboitiz Power Inc, Philippines
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- The University of Queensland
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- Sakthi Sugars Limited - India
- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
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- Standard Chartered Bank - UAE
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- Ministry of Transport, Egypt
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- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
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- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
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- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
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- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
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- Jaiprakash Power Ventures ltd
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- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
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- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
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