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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, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
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- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
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