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Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
 Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in certain provinces, Fitch Ratings says. The extent of the impact of this new policy announced by China's National Development and Reform Commission on 27 May 2016 will depend on execution at the provincial level.
According to Fitch, the new policy comes as solar and wind power producers frequently face curtailment, where power grids do not purchase all the energy generated. The wastage arises as the government has not strictly enforced the Renewable Energy Law, which requires grid companies to purchase solar and wind power generated first before buying from other sources. In the past, delayed grid connectivity and higher on-grid priority for power/heating co-generation during the winter season in certain regions contributed to solar and wind power curtailment. Starting from 2015, renewable energy faced additional challenges from slower power demand growth due to the weaker economic growth, and the significant capacity additions by thermal and renewable power producers.
Fitch further noted that, the under the new policy, the NDRC will guarantee that grid companies purchase solar and wind power, based on a minimum utilisation hour for such projects, in 11 provinces where producers face severe curtailment. The 11 provinces are: Inner Mongolia, Xinjiang, Gansu, Jilin, Heilongjiang, Ningxia, Liaoning, Qinghai, parts of Hebei, Shanxi and Shaanxi. The curtailment ratios in these provinces were higher than China's average solar and wind power curtailment ratios of 14% and 26%, respectively, in 1Q16. These provinces represented 69% of China's total wind power generation and 70% of total solar capacity in 2015.
The NDRC's guarantee of a minimum utilisation hour for solar and wind power, which is set to allow these generators a reasonable return, will provide some comfort to renewable energy investors in these provinces, who have seen the utilisation hours for wind and solar power in these provinces decline in the past two years. The NDRC will guarantee minimum utilisation hour of between 1,800 and 2,000 hours for wind power and between 1,300 and 1,500 hours for solar power in these regions. The average minimum guarantee is about 17% higher than the actual utilisation in 2015, although around 8% lower than that in 2013.
The new NDRC policy also bans new wind and solar power projects in the regions where the utilisation rate is below the minimum amount under the guaranteed purchase policy. There are still 33GW of wind power projects in the pipeline in these 11 provinces, and those that have not started construction may be suspended.
We believe the effectiveness of the guarantee in provinces such as Gansu, Jilin and Heilongjiang will be most dependent on the execution; especially because the policy has not specified who will bear the cost of any non-compliance with the minimum purchase guarantee. These regions' actual utilisation hours in 2015 were 19%-34% below the announced guarantee. The expected growth in power demand in these regions is also weak and export transmission capacity is currently limited. Thermal power (mostly co-gen units) is also running at low utilisation, which means there is limited room to allocate more on-grid capacity to renewable energy without further hurting the thermal power producers.
The NDRC's guarantee does not affect the on-grid tariff subsidies currently in place for solar and wind power. Beyond the minimum purchase guaranteed by NDRC, solar and wind power generators can sell any excess power generated through a market power sales programme. The generators will receive the proceeds from the power sales and any applicable subsidies for solar or wind power, Fitch Ratings says.
The impact of the new policy on the thermal-power sector will be minimal, as wind and solar together account for only 4% of national power generation. We estimate that thermal-power utilisation would only have been less than 1% lower if the off-take from solar and wind projects were at the guaranteed requirement in 2015. However, we expect utilisation levels for coal-fired generation to continue to fall due to the increasing over-capacity in the sector, Fitch Ratings Concluded.
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Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
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