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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- The University of Queensland
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
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