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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, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Planning Commission, India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
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