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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
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