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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- The University of Queensland
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
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