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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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Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Parry Sugars Refinery, India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- White Energy Company Limited
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
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