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