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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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Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- PTC India Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
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