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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
 COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze power producers' margins in 2017, says Fitch Ratings. Margins are also expected to suffer as more electricity is sold under direct power sales (DPS) programmes at a discount to the benchmark on-grid tariff as well as from falling plant utilisation levels.
China's National Development and Reform Commission (NDRC) said on 4 January 2017 that the benchmark on-grid tariff for coal-fired power will remain unchanged in 2017, despite a strong coal price rally starting from 3Q16.
Fitch further noted that, China introduced a coal price pass-through mechanism in early 2016, which specifies that coal-fired power generators' on-grid tariff will be reviewed at the start of each year to reflect coal price changes in the previous year. In this week's announcement, the NDRC further specified that the average NDRC national coal price index from November 2015 to October 2016 was used as reference to decide the tariff pass-through amount. According to the price formula, on-grid tariff should increase by CNY0.18 cents per kilowatt hour (KWh) to reflect the coal price change in that period. However, changes less than CNY0.2 cent/KWh will not be made, but will accumulate into the next review period.
Although the current Qinghuangdao seaborne coal price is already 15% lower than its peak in 2016 due to NDRC measures to increase coal supply and contain coal prices, it remains more than 30% higher than the average 2016 price as coal prices were much lower in 1H16. We expect coal prices to fall further with policy intervention; however, the average 2017 coal price, especially in 1H17, is likely to be higher than for the same period last year. As such, dark spread - the difference between power tariffs and unit coal costs - for coal-fired power generators will be lower than in 2015 and early-2016.
At the same time, Fitch said, power volumes sold under DPS are increasing. The NDRC reports that power sold under DPS increased to 700 billion KWh in 2016, up from 430 billion KWh in the previous year. This represents around 12% of China's total power demand or 17% of power demand from the energy-intensive secondary industry, which accounted for around 71% of the country's total power consumption in 2016. According to NDRC, the average discount on DPS is around CNY6.4 cent/KWh, which is around 18% of China's national average on-grid tariff.
However, Fitch estimates the discount for power sold under DPS is around 20% in regions with higher power demand and less competition, and 30% or higher in regions that suffer more from power overcapacity. Coal-fired power generators' dark spread is likely to be further squeezed as China aims to expand the scale of DPS in 2017.
We also expect coal-fired power utilisation hours to decline with slowing power demand growth and still-high capacity additions. We expect some smaller players are likely to be loss-making and forced out of the market, while large-scale and highly-efficient power generators or power-heat co-generation generators in regions with stable power demand or access to lower-cost coal will be final winners under these changes taking place in China electricity market, Fitch concluded.
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
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- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
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- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
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- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
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- Anglo American - United Kingdom
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- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
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- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
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