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