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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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Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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Showing 366 to 370 news of total 6871 |
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- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- PTC India Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
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