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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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Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
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- Sojitz Corporation - Japan
- Australian Coal Association
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- White Energy Company Limited
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
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