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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, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
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- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
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