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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- White Energy Company Limited
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Videocon Industries ltd - India
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