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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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- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
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