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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- The University of Queensland
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Mjunction Services Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
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