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Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
 Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) and end-users signal an increase in power trading tariffs, reflecting the gencos' intention to recoup profit amid elevated coal prices and increased participation in market trading by commercial and industrial (C&I) customers, says Fitch Ratings.
Some Chinese power gencos enter into the next year's annual market trading contracts with end-users - mainly C&I customers - at the end of the current year. The bilateral contracts account for most of their annual trading volume and set the tariff agreed upon between both parties.
Jiangsu province's 2022 power market trading volume in these bilateral contracts will rise by 9.7% from a year earlier with the average trading tariff for coal-fired power at CNY466.78/MWh, higher than the local benchmark coal-fired tariff by 19.36% and almost reaching the price ceiling of CNY469.2/MWh. Guangdong province's annual electricity to be sold under the bilateral negotiated trading mechanism in 2022 will rise by 21.1% from a year earlier, and its average selling price will exceed its benchmark tariff by 7.35%, in stark contrast to 2021 when the annual traded power was sold at a discount of 11.56% to the benchmark tariff.
The 2022 annual power trading prices in south Hebei, Shaanxi and Hainan provinces will also approach the upper limit of 20% above their provincial benchmark tariffs.
The higher nationwide market trading tariff in 2022 follows a coal price rally in 2021, which significantly squeezed gencos' profit margins. The Qinhuangdao 5,500kcal/kg benchmark thermal coal price fell to CNY945 per tonne on 18 January 2022 after government intervention, from more than CNY1,300/tonne on average in 4Q21, but prices are still much higher than in 2019 and 2020. Fitch expects provinces that experienced severe power shortages in 2021 to set higher market trading tariffs in 2022, as price hikes are more acceptable by most end-users than blackouts.
The Chinese power trading market has also expanded, as all C&I users are now required to participate, implying higher tariffs as a fixed retail tariff is no longer an option for them. The local power grid can serve as their power purchasing agent in the transitional period, but the tariff it offers tends to be more volatile and sometimes higher than that of long-term contracted power from gencos.
Renewable power trading prices agreed upon between gencos and users in bilateral contracts for 2022 in eastern China will also increase. The average trading price of renewable power in Jiangsu province will be CNY72/MWh, or 8.38%, higher than the coal-fired benchmark tariff, while the average price of green power in Guangdong province will be higher by CNY61/MWh, much wider than the CNY30/MWh-CNY50/MWh premium to the coal-fired benchmark tariff in September 2021 when China's pilot scheme for green power trading started.
Fitch expects the premium of renewable power trading prices to rise further in eastern China, where curtailment risk is low due to strong market demand for electricity. The premium over coal-fired tariff is supported by high demand for renewable power from state-owned users, which are now evaluated by their government parents on their performance in achieving carbon-neutrality goals.
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
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