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Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
 Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) and end-users signal an increase in power trading tariffs, reflecting the gencos' intention to recoup profit amid elevated coal prices and increased participation in market trading by commercial and industrial (C&I) customers, says Fitch Ratings.
Some Chinese power gencos enter into the next year's annual market trading contracts with end-users - mainly C&I customers - at the end of the current year. The bilateral contracts account for most of their annual trading volume and set the tariff agreed upon between both parties.
Jiangsu province's 2022 power market trading volume in these bilateral contracts will rise by 9.7% from a year earlier with the average trading tariff for coal-fired power at CNY466.78/MWh, higher than the local benchmark coal-fired tariff by 19.36% and almost reaching the price ceiling of CNY469.2/MWh. Guangdong province's annual electricity to be sold under the bilateral negotiated trading mechanism in 2022 will rise by 21.1% from a year earlier, and its average selling price will exceed its benchmark tariff by 7.35%, in stark contrast to 2021 when the annual traded power was sold at a discount of 11.56% to the benchmark tariff.
The 2022 annual power trading prices in south Hebei, Shaanxi and Hainan provinces will also approach the upper limit of 20% above their provincial benchmark tariffs.
The higher nationwide market trading tariff in 2022 follows a coal price rally in 2021, which significantly squeezed gencos' profit margins. The Qinhuangdao 5,500kcal/kg benchmark thermal coal price fell to CNY945 per tonne on 18 January 2022 after government intervention, from more than CNY1,300/tonne on average in 4Q21, but prices are still much higher than in 2019 and 2020. Fitch expects provinces that experienced severe power shortages in 2021 to set higher market trading tariffs in 2022, as price hikes are more acceptable by most end-users than blackouts.
The Chinese power trading market has also expanded, as all C&I users are now required to participate, implying higher tariffs as a fixed retail tariff is no longer an option for them. The local power grid can serve as their power purchasing agent in the transitional period, but the tariff it offers tends to be more volatile and sometimes higher than that of long-term contracted power from gencos.
Renewable power trading prices agreed upon between gencos and users in bilateral contracts for 2022 in eastern China will also increase. The average trading price of renewable power in Jiangsu province will be CNY72/MWh, or 8.38%, higher than the coal-fired benchmark tariff, while the average price of green power in Guangdong province will be higher by CNY61/MWh, much wider than the CNY30/MWh-CNY50/MWh premium to the coal-fired benchmark tariff in September 2021 when China's pilot scheme for green power trading started.
Fitch expects the premium of renewable power trading prices to rise further in eastern China, where curtailment risk is low due to strong market demand for electricity. The premium over coal-fired tariff is supported by high demand for renewable power from state-owned users, which are now evaluated by their government parents on their performance in achieving carbon-neutrality goals.
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Minerals Council of Australia
- The University of Queensland
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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