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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, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Posco Energy - South Korea
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
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