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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
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