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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Economic Council, Georgia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- PTC India Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
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