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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the Ukraine conflict, Prime Minister Anthony Albanese said on Friday.
Gas prices will be capped at A$12 per gigajoule (GJ), while the limit for coal will be A$125 per tonne for 12 months, with the government supporting coal producers whose costs exceed that figure, he said.
“Extraordinary times call for extraordinary measures, and we know, with the Russian invasion of Ukraine, what we’ve seen is a massive increase in global energy prices,” Albanese told reporters after a national cabinet meeting with state leaders.
The government also agreed to provide assistance of up to A$1.5 billion to homes and small businesses, starting from the second quarter of 2023.
The gas price cap will apply to new wholesale gas sales by east coast producers. At A$12, it is less than half the average short term gas price of A$26/GJ in the third quarter, according to data from research group EnergyQuest.
The coal price cap will apply to coal used in power generation, the government said. The cap of A$125 is about half the A$249 a tonne average selling price Banpu achieved for its Australian coal in the third quarter.
Gas producers had urged the government not to impose the price cap, saying it would deter future investment in supply, which would be key to driving down prices in the long run, and could damage Australia’s reputation for foreign investors.
Producers that could be hit by the gas price cap include ExxonMobil Corp, Shell Plc, Origin Energy , Woodside Energy Group, Santos Ltd and South Korean steel giant POSCO International Corp’s Senex Energy.
“The uncertainty caused by the federal government’s plan to impose a price cap in the eastern Australian gas market has already destroyed the confidence both buyers and sellers need in order to complete the transactions that will ensure energy supplies to households and businesses,” a Woodside spokesperson said.
Coal producers that will be affected include Glencore Plc , Banpu Resources Australia, a unit of Banpu PCL , Coronado Global Resources and Peabody Corp , which supply coal to power plants in New South Wales and Queensland states.
Coal producers declined to comment until seeing further details on how the price cap would work.
The Australian Industry Group welcomed the price caps but said they were not the best solution.
“They will be messy to implement … but they look likely to be very helpful in dampening the immediate economic pain of this global energy crisis,” Ai Group chief executive Innes Willox said in a statement.
However, power producers, represented by the Australian Energy Council, said it was unclear whether electricity bills will fall anytime soon, because energy retailers and generators who hedge their risks have already settled their contracts for the next 12 months on the basis of higher prices.
“If more lower priced fuel is available, over time those savings may lead to lower wholesale electricity prices, but that will take time to flow through to end users,” Australian Energy Council Chief Executive Sarah McNamara said in a statement.
Source: Reuters
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
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