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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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Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
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- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
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