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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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Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
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- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
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