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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- The University of Queensland
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
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