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Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
 Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine the commodity, according to a document from the economy and energy ministry seen by Bloomberg.
Taxpayers are already slated to send 35 billion euros ($41 billion) of aid to four coal regions from 2013 to 2028 and will have to increase that amount as efforts to scale back pollution eliminates jobs at mines and power plants, the economy ministry estimated in a report drawn up last month.
The findings were submitted to the commission that Merkel asked to study when Germany could finally close its remaining 120 coal stations, which supplied more than a third of the nation’s electricity last year. After spending 500 billion euros to switch off the most polluting power plants, Merkel is now seeking to balance environmental goals against the need to protect jobs and keep a lid on electricity prices now at their highest level in years.
“The faster Germany pulls out of coal, the more expensive it’s going to be and we’re not talking about negligible costs,” said IGBCE miners, chemical and electrical workers’ union spokesman Lars Ruzic on the phone from Hanover Tuesday. “The phase-out is an immense disruption for utilities, the coal regions, jobs and the broader economy.”
Merkel’s coal commission has kept quiet about its private deliberations. It’s due to publish its main recommendations by the end of October. Philipp Jornitz, a spokesman for the Economy and Energy Ministry in Berlin, declined to comment on the report.
The documents dated Aug. 14 give a glimpse into the advice that’s feeding into Merkel’s coal commission. The panel, including lawmakers from the main political parties, environmental groups, analysts and unions, is drawing up a proposal for how quickly Germany should make the switch from fossil fuels in favor of cleaner forms of energy.
It said that the aid currently scheduled to go to coal regions is a “definite underestimate” of the actual amount of funding supporting those areas, since it excludes additional European Union payments to regional economies in transition.
Power in Germany is already the most expensive in Europe, according to the BDEW utilities federation. Closing the nation’s 120-odd coal plants by 2040 would push up power bills by 20 percent or by 29 billion euros, consultancy Frontier Economics said in an August report financed by RWE AG.
Germany’s remaining coal plants currently have a capacity of 46.7 gigawatts, about 23 percent of the nation’s total electric generation, which can produce 205 gigawatts in total. Wind turbines surpassed coal as the largest contributor to the grid last year.
The mandate of Merkel’s coal commission is to suggest a way government can “actively support structural change” in the coal regions, calibrating an exit from the most polluting fossil fuel while kick-starting new businesses to preserve jobs.
The four regions support tens of thousands of mining, power industry and service jobs, according to the IGBCE union. The companies that are most likely to be affected include RWE AG, which owns mining and power plants in the western state of North-Rhine Westphalia, and LEAG, which is the main lignite operator in eastern Germany.
Power prices have been rising this year across Europe along with the cost of coal, natural gas and carbon-emissions credits.
RWE and LEAG have said the cost of Germany’s energy transition can be limited if the government allows market forces to determine the timing of when the last coal plant should shut. The two have lignite mining licenses stretching into the middle of the century and want to preserve those assets.
Allowing the carbon market to guide Germany’s shift away from coal might allow them to keep operating for years or even decades.
Source: Bloomberg
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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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Showing 1606 to 1610 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- The University of Queensland
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
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