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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
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