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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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Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
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