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Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is used to determine escalation rates for electricity generated using imported dry fuel.
The move would help in having a benchmark in deciding the escalation rates for electricity generated by power plants that are fired by Indonesian coal.
It also assumes significance amid deadlock between various power generators and procurers over increasing the electricity tariff due to rise in imported coal prices.
The Central Electricity Regulatory Commission (CERC) has decided to include Indonesian coal, besides South African and Australian dry fuel, in the composite index for imported coal for payment purposes.
Currently for payment purposes, the index takes into account only Australian and South African coal.
The Commission said the decision to revise the index has been taken after considering the composition of steam coal imports as well as the importance and acceptability of indices in international contracts.
"The weights of different coal in the composite index shall include 25 per cent Australian coal, 25 per cent South African coal, and 50 per cent Indonesian coal," the Commission said in an order dated December 23.
CERC has the mandate to notify the escalation rates for imported coal used to fire power plants. These rates are notified every six months.
According to the watchdog, Indonesian coal has been included in the index considering that it makes up for a pre- dominant share of steam coal imports into the country.
In 2010-11 period, about 73 per cent coal was imported from Indonesia while 24 per cent was from South Africa.
Average import of steam coal for the last three years shows about 76 per cent from Indonesia and 19 per cent from South Africa. During the same period, the dry fuel import from Australia was just about one per cent.
Despite insignificant steam coal imports from Australia, it would have 25 per cent weightage in the index.
"Australian coal has been retained in the composite index despite very low volume of consumption in India due to its liquidity, acceptability for contracts, and possibility of increased use of Australian coal in future," the order said.
The new index should be used to determine the escalation rates from April 1, 2014.
Regarding suggestions for country specific indices, CERC said that reliability could be an issue in such cases.
"The rationale for using composite index instead of country specific index is to induce efficiency in procurement and diversification of supplies," the order said.
Further, the regulator noted that the composite index would be subject to review and revision "as and when the need arises".
Source: Trust of India / Business Standard
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Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- GN Power Mariveles Coal Plant, Philippines
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- Ceylon Electricity Board - Sri Lanka
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- Metalloyd Limited - United Kingdom
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- Electricity Authority, New Zealand
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- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- The University of Queensland
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- Sojitz Corporation - Japan
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- White Energy Company Limited
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- Sical Logistics Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
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- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
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- Carbofer General Trading SA - India
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- ICICI Bank Limited - India
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