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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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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- PTC India Limited - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
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