We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December 2015 will bring highervisibility and stability to China's independent power producers' (IPPs) earnings.
This new mechanism gives a much clearer guidance on the benchmark coal price for reference and when the tariff adjustments will occur, unlike the previous mechanism which did not provide clear details on these items.
The NDRC announced a cut in the on-grid power tariff for thermal power of CNY0.03 per kilo-watt hour (kwh) effective from 1 January 2016 - which the agency considers to be modest compared to the drop in Qinghuangdao coal prices of around 17% since the last tariff revision in April 2015. The tariff reduction is also moderate compared to the end-2015 dark spread for China coal fired plants of around CNY0.25/kwh as estimated by the agency. Nonetheless, we believe the tariff cut may negatively impact thermal power producers whose utilisation hours are under pressure.
The NDRC launched new China Thermal Coal Price Indices by province in September 2015, which will serve as a reference for future tariff adjustments. The new tariff framework will result in annual tariff adjustments by referring to thermal coal prices in 2014 as the benchmark coal price. The review will take place at the end of every year, and adjustments will be effective from 1 January in the following year.
The new mechanism also sets different pass-through factors of between 0.8x to 1.0x for coal price changes of between CNY 30 to 150/ton from 2014 levels; any changes beyond this range will not be passed through. The effective pass-through of cost changes will vary from 0 to 71% within this band of coal price variations. This is lower than the 90% under previous regulations. However, we do not see a high risk of spreads materially contracting for power producers in the foreseeable future as the benchmark coal price (of 2014) is more than 20% higher than current coal price levels, and given our expectation of subdued coal prices in the medium-term.
The new mechanism also introduced an automatic pass-through of a coal-fired power on-grid tariff to commercial and industrial (C&I) retail power tariff, subject to a K-factor adjustment to account for cross-subsidies and various surcharges. Fitch believes that the Chinese government took advantage of current low coal prices to rationalize the relationship between coal prices, the coal-fired power on-grid tariff and the C&I retail power tariff.
However, this new mechanism only regulates the benchmark on-grid tariff, while power tariffs for "market power" through direct purchases by large customers or the power market exchange programme are not covered. While the new tariff regulations provide more clarity and certainty to thermal power producers, Fitch believes that coal-fired power IPPs will continue to face challenges with weakened utilization hours due to low power consumption growth and the addition of large amounts of thermal and renewable power capacity in the medium-term. Although current power sold through the power market or direct purchase is relatively small (less than 10%), more and more power is likely to be sold under the "market power" scheme as an increasing number of provinces will introduce such programs. IPPs also have a strong incentive to participate in "market power" programmes to gain higher utilization, albeit at discounted tariffs.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
|
|
|
Showing 2646 to 2650 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
|
| |
| |
|
