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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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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
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