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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- PTC India Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
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