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