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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
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