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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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Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
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- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
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