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