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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
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