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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, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
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- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- The University of Queensland
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
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