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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, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
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