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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, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
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- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
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- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
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- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
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