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Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that it would not start new round of bidding for coal import on spot for three months until revised mechanism is approved.
This was conveyed by the Company’s CEO Li Xin in a letter to Registrar Nepra, wherein the issues related to procurement of coal spot were discussed.
The company has been successfully using Afghan coal for almost four months now as requested by the Ministry of Energy (Power Division) and the total procurement made till October 11, 2022 in this respect is 448,273 tons.
The CEO HSR stated that Power Division has held one meeting and directed HSR and CPHGC to enter into a three-month agreement for coal supply and paid in PKR for Afghan/ spot market coal on October 9, 2022 together with CPPA-G and NPCC instead of monthly coal supply agreement.
Thus, in this regard the company has sought Authority’s approval and also wants to seek regulator’s approval as the company is procuring coal based on the criteria of one-month basis and has already been awarded Nepra’s approval in this regard; however, the company suggests that the criteria should be adjusted for three-month long-term coal supply without specifying the origin of the coal.
According to the new criteria suggested by the company, the bid price will carry 75 marks instead of 60 marks.
Financial strength will be 10 marks instead of 15, contract compliance will be 5 marks as compared to 10 marks, experience of past one year, 10 marks as compared to 13 marks, and experience to plant 0 in place of 2 marks.
The company maintained that penalties/liquidity damages that are imposed under the agreement are to protect the power plants’ equipment.
Thus, it should be allowed by Nepra to the plant and not be deducted in calculating the fuel price adjustment.
If two bidders get the same total weighted marks, the one with more experience be first priority.
Moreover, if the three-month approval is granted to the company, it would also like Nepra to cater for the following: (i) what would be indexation mechanism for price with three months long-term coal supply; (ii) how would the Authority cater to the fact that if during the said three months period the price of South African coal is cheaper than Afghan coal; (iii) The company has suggested that the API-46000 index should be referred by authority for comparison of South African coal and Afghan coal/spot market on MMBTU basis; (iv) the benchmark exchange rate used for the comparison of Afghan coal/ sport purchase; and (v) the bidding period/ process involved in the purchase of Afghan coal/spot purchases.
The company has requested Nepra to set up one transparent guideline for bidding process. Moreover, HSR will not start the new round of bidding process for three months, until it gets the written approval of the Authority.
Source: Business Recorder
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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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