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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Planning Commission, India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
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