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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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Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
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