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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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Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
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