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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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Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Australian Coal Association
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Planning Commission, India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
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