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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
 COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze power producers' margins in 2017, says Fitch Ratings. Margins are also expected to suffer as more electricity is sold under direct power sales (DPS) programmes at a discount to the benchmark on-grid tariff as well as from falling plant utilisation levels.
China's National Development and Reform Commission (NDRC) said on 4 January 2017 that the benchmark on-grid tariff for coal-fired power will remain unchanged in 2017, despite a strong coal price rally starting from 3Q16.
Fitch further noted that, China introduced a coal price pass-through mechanism in early 2016, which specifies that coal-fired power generators' on-grid tariff will be reviewed at the start of each year to reflect coal price changes in the previous year. In this week's announcement, the NDRC further specified that the average NDRC national coal price index from November 2015 to October 2016 was used as reference to decide the tariff pass-through amount. According to the price formula, on-grid tariff should increase by CNY0.18 cents per kilowatt hour (KWh) to reflect the coal price change in that period. However, changes less than CNY0.2 cent/KWh will not be made, but will accumulate into the next review period.
Although the current Qinghuangdao seaborne coal price is already 15% lower than its peak in 2016 due to NDRC measures to increase coal supply and contain coal prices, it remains more than 30% higher than the average 2016 price as coal prices were much lower in 1H16. We expect coal prices to fall further with policy intervention; however, the average 2017 coal price, especially in 1H17, is likely to be higher than for the same period last year. As such, dark spread - the difference between power tariffs and unit coal costs - for coal-fired power generators will be lower than in 2015 and early-2016.
At the same time, Fitch said, power volumes sold under DPS are increasing. The NDRC reports that power sold under DPS increased to 700 billion KWh in 2016, up from 430 billion KWh in the previous year. This represents around 12% of China's total power demand or 17% of power demand from the energy-intensive secondary industry, which accounted for around 71% of the country's total power consumption in 2016. According to NDRC, the average discount on DPS is around CNY6.4 cent/KWh, which is around 18% of China's national average on-grid tariff.
However, Fitch estimates the discount for power sold under DPS is around 20% in regions with higher power demand and less competition, and 30% or higher in regions that suffer more from power overcapacity. Coal-fired power generators' dark spread is likely to be further squeezed as China aims to expand the scale of DPS in 2017.
We also expect coal-fired power utilisation hours to decline with slowing power demand growth and still-high capacity additions. We expect some smaller players are likely to be loss-making and forced out of the market, while large-scale and highly-efficient power generators or power-heat co-generation generators in regions with stable power demand or access to lower-cost coal will be final winners under these changes taking place in China electricity market, Fitch concluded.
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Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
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