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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the Ukraine conflict, Prime Minister Anthony Albanese said on Friday.
Gas prices will be capped at A$12 per gigajoule (GJ), while the limit for coal will be A$125 per tonne for 12 months, with the government supporting coal producers whose costs exceed that figure, he said.
“Extraordinary times call for extraordinary measures, and we know, with the Russian invasion of Ukraine, what we’ve seen is a massive increase in global energy prices,” Albanese told reporters after a national cabinet meeting with state leaders.
The government also agreed to provide assistance of up to A$1.5 billion to homes and small businesses, starting from the second quarter of 2023.
The gas price cap will apply to new wholesale gas sales by east coast producers. At A$12, it is less than half the average short term gas price of A$26/GJ in the third quarter, according to data from research group EnergyQuest.
The coal price cap will apply to coal used in power generation, the government said. The cap of A$125 is about half the A$249 a tonne average selling price Banpu achieved for its Australian coal in the third quarter.
Gas producers had urged the government not to impose the price cap, saying it would deter future investment in supply, which would be key to driving down prices in the long run, and could damage Australia’s reputation for foreign investors.
Producers that could be hit by the gas price cap include ExxonMobil Corp, Shell Plc, Origin Energy , Woodside Energy Group, Santos Ltd and South Korean steel giant POSCO International Corp’s Senex Energy.
“The uncertainty caused by the federal government’s plan to impose a price cap in the eastern Australian gas market has already destroyed the confidence both buyers and sellers need in order to complete the transactions that will ensure energy supplies to households and businesses,” a Woodside spokesperson said.
Coal producers that will be affected include Glencore Plc , Banpu Resources Australia, a unit of Banpu PCL , Coronado Global Resources and Peabody Corp , which supply coal to power plants in New South Wales and Queensland states.
Coal producers declined to comment until seeing further details on how the price cap would work.
The Australian Industry Group welcomed the price caps but said they were not the best solution.
“They will be messy to implement … but they look likely to be very helpful in dampening the immediate economic pain of this global energy crisis,” Ai Group chief executive Innes Willox said in a statement.
However, power producers, represented by the Australian Energy Council, said it was unclear whether electricity bills will fall anytime soon, because energy retailers and generators who hedge their risks have already settled their contracts for the next 12 months on the basis of higher prices.
“If more lower priced fuel is available, over time those savings may lead to lower wholesale electricity prices, but that will take time to flow through to end users,” Australian Energy Council Chief Executive Sarah McNamara said in a statement.
Source: Reuters
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Parliament of New Zealand
- Australian Coal Association
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
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