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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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Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
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