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Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and supply shock, as happening now, can disrupt power generation.
The current shortage of coal is raising the spectre of long power outages. At a broader level, the crisis also underscores India’s overwhelming dependence on coal to meet its energy needs, the significant push towards renewables notwithstanding. As of September 2021, thermal power— power generated from burning coal, gas and petroleum—comprised 60% of India’s installed capacity in power generation. Coal alone accounted for nearly 50%. By comparison, renewable sources such as wind and solar energy and biomass accounted for 26%.
European countries lead the way in renewable sources, which are more sustainable and environment-friendly. Germany, for example, drew 44% of its electricity from renewables in the first half of 2021. For India, that figure was just 10% in 2019-20, against the installed capacity share of 26%. While installed capacity represents the maximum amount of electricity that can be generated, the actual amount generated from renewables is lower due to their erratic nature. For instance, lack of sufficient wind on a given day would lead to lower energy produced from wind turbines.
While India is expected to tide over the current coal shortage, the only way it can secure its longer-term energy security is by ramping up production from renewables. However, in the medium term, it is also imperative to upgrade infrastructure at coal mining facilities, and open up existing mines to the private sector for mining to augment the supply of coal. Failure to do so will leave it vulnerable to imbalances in supply—and have deleterious trickle-down effects, as being seen now.
Supply Crunch
Coal production has picked up in the current financial year and exceeds pre-pandemic levels. In the six-month period from April to September 2021, India produced 315 million tonnes of coal, a 5.5% increase over the corresponding period of 2019 (pre-pandemic). However, there has been a secular stagnation in coal production since 2017, with the rise in production not keeping pace with increasing demand.
State-owned Coal India dominates coal production in the country, accounting for about 85% of the coal produced in the first six months of 2021-22. In addition to domestic production, India imports nearly 25% of its coal requirement. Coal imports too had fallen sharply in 2020-21, due to supply shortages and the ensuing increase in global coal prices. In a move that will enhance imports, the Centre has ordered thermal power producers to import coal for at least 10% blending in their fuel, citing a shortage of domestic supply.
Production Woes
There is, currently, a crippling shortage of coal at thermal power plants. At an all-India level, the normative stock of coal required across all power plants is 39.7 million tonnes. However, the coal stock available on 15 October with these plants stood at 7.5 million tonnes, or about 19% of the stock required, according to the Central Electricity Authority. That same day, as many as 104 of the 135 coal-based plants in India had less than five days’ stock of coal remaining, which is deemed to be ‘critical’ for plants that are located near a coal mine.
The shortage is stark across states in all regions. The northern region, which is distant from most coal-producing regions, is the worst-affected, with around 91% of thermal plants facing shortages. By comparison, the western region, which includes mineral-rich Chhattisgarh, is slightly better off, with the coal shortage affecting around 74% of power plants there.
Price Spikes
The current concern regarding coal supplies has led to a spike in electricity costs. The supply arrangement in India is that distribution companies, mostly state-owned, enter into direct purchase agreements with power producers. In the event that producers are unable to fulfil their commitments, or demand exceeds contracted supply, distribution companies buy from sellers in the open market.
Data from the Indian Energy Exchange (IEX), a marketplace for short-term electricity trading in India, shows that electricity prices rose nearly five-fold over the past month in reaction to news regarding the impending shortage of coal. Considering that end prices paid by consumers remained fixed, distribution companies, which are already in a precarious financial position, were forced to bear the brunt of this higher price. Although rates have slid back to normal levels again, this upheaval is a grim reminder of the centrality of coal in India’s power mix and why this needs to change.
Source: Livemint
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Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- GMR Energy Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
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