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Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
 China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says Fitch Ratings. The plan, whose main framework was introduced in March 2015, will also help to improve the utilisation of renewable energy.
The reform aims to "regulate the middle and open up the two ends", which includes the implementation of a regulated return-on-asset-based framework for power transmission and distribution. The effective margins under the revised structure are generally lower than the grids' previous profit spread between on-grid and retail tariffs, but Fitch expects the financial impact to be limited with China Southern Power Grid Co., Ltd (CSG; A+/Stable) likely to bear more margin pressure than State Grid Corporation of China (A+/Stable) due to CSG's higher pre-reform return on assets. However, the reform removes price and volume risks for grid companies, resulting in higher cash flow stability.
Market trading is also promoted under the reform, which cuts power generators' average selling prices due to China's oversupply. This has put pressure on coal-fired power plants' profitability, although the impact has been more modest than the effect of high coal prices on generators' margins. Hydropower projects have been less involved in market trading. The "Big Five" central state-owned independent power producers (IPPs) are likely to weather the margin pressures better than local IPPs in regions with higher percentages of market trading due to their asset diversity and ownership of hydro assets.
The move towards market trading helps to improve utilisation of renewable energy, but at the cost of lower and more volatile selling prices. We think the government may gradually reduce guaranteed utilisation hours applicable for renewable energy, shifting more volume to market trading. Wind and solar farms currently suffering from severe curtailment will likely benefit from this the most as their utilisation should improve. However, projects that face little to no curtailment and are already enjoying high utilisation rates could be hurt by lower market prices.
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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Planning Commission, India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Chamber of Mines of South Africa
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