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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, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
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- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Economic Council, Georgia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
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