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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, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- The University of Queensland
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Marubeni Corporation - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
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