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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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- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
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