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Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
 Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine the commodity, according to a document from the economy and energy ministry seen by Bloomberg.
Taxpayers are already slated to send 35 billion euros ($41 billion) of aid to four coal regions from 2013 to 2028 and will have to increase that amount as efforts to scale back pollution eliminates jobs at mines and power plants, the economy ministry estimated in a report drawn up last month.
The findings were submitted to the commission that Merkel asked to study when Germany could finally close its remaining 120 coal stations, which supplied more than a third of the nation’s electricity last year. After spending 500 billion euros to switch off the most polluting power plants, Merkel is now seeking to balance environmental goals against the need to protect jobs and keep a lid on electricity prices now at their highest level in years.
“The faster Germany pulls out of coal, the more expensive it’s going to be and we’re not talking about negligible costs,” said IGBCE miners, chemical and electrical workers’ union spokesman Lars Ruzic on the phone from Hanover Tuesday. “The phase-out is an immense disruption for utilities, the coal regions, jobs and the broader economy.”
Merkel’s coal commission has kept quiet about its private deliberations. It’s due to publish its main recommendations by the end of October. Philipp Jornitz, a spokesman for the Economy and Energy Ministry in Berlin, declined to comment on the report.
The documents dated Aug. 14 give a glimpse into the advice that’s feeding into Merkel’s coal commission. The panel, including lawmakers from the main political parties, environmental groups, analysts and unions, is drawing up a proposal for how quickly Germany should make the switch from fossil fuels in favor of cleaner forms of energy.
It said that the aid currently scheduled to go to coal regions is a “definite underestimate” of the actual amount of funding supporting those areas, since it excludes additional European Union payments to regional economies in transition.
Power in Germany is already the most expensive in Europe, according to the BDEW utilities federation. Closing the nation’s 120-odd coal plants by 2040 would push up power bills by 20 percent or by 29 billion euros, consultancy Frontier Economics said in an August report financed by RWE AG.
Germany’s remaining coal plants currently have a capacity of 46.7 gigawatts, about 23 percent of the nation’s total electric generation, which can produce 205 gigawatts in total. Wind turbines surpassed coal as the largest contributor to the grid last year.
The mandate of Merkel’s coal commission is to suggest a way government can “actively support structural change” in the coal regions, calibrating an exit from the most polluting fossil fuel while kick-starting new businesses to preserve jobs.
The four regions support tens of thousands of mining, power industry and service jobs, according to the IGBCE union. The companies that are most likely to be affected include RWE AG, which owns mining and power plants in the western state of North-Rhine Westphalia, and LEAG, which is the main lignite operator in eastern Germany.
Power prices have been rising this year across Europe along with the cost of coal, natural gas and carbon-emissions credits.
RWE and LEAG have said the cost of Germany’s energy transition can be limited if the government allows market forces to determine the timing of when the last coal plant should shut. The two have lignite mining licenses stretching into the middle of the century and want to preserve those assets.
Allowing the carbon market to guide Germany’s shift away from coal might allow them to keep operating for years or even decades.
Source: Bloomberg
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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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Showing 1606 to 1610 news of total 6871 |
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- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Australian Coal Association
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
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