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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, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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 ...
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- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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