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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Economic Council, Georgia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- The University of Queensland
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
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