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On December 20, the China Coal Transportation and Marketing Association, which undertook the joint efforts of coal production and transportation in 2010, issued a notice requesting the provincial (district) city coal administration authorities to speed up the progress of coal-to-coal connection between provincial enterprises, and stressed that it will be held in January. At the closing of the shipment at 24:00 on the 31st, it was necessary to link up the online contract summaries. This is the second time in 10 days that China Coal Marketing Association issued a notice to supervise the implementation of coal-fired power transmission in 2011.
At the time of closure, the convergence of coal-fired power production and sales involving the market-sensitive nerves of the coal-fired power industry has once again caused widespread concern in the industry, especially in the recent period when the coal supply and demand market is in a state of intense tension, which in turn triggers a surge in coal prices and a general loss of power companies. This concern has become even more eager.
Key contract coal will give priority to allocating capacity
On December 23, some media reported that most coal and electricity companies have not yet reached a consensus agreement on the supply of key contracted coal in 2011 at this time. China Coal Association announced the total amount of inter-provincial coal coal blending of 932 million tons, only about 100 million tons.
In response, Wang Baofa, deputy director of the China Coal Transportation and Marketing Association, told the reporter of the China Energy News that at present, all coal companies are stepping up the signing of key coal contracts with power companies. It is expected that the target of 932 million tons will be completed on time.
Wang Baofa’s confidence may come from the determination of coal authorities in various provinces and municipalities, which can be seen from the recent convergence of coal supply and demand in various provinces. In December, several major coal-producing provinces including Shanxi, Henan, Guizhou and other provinces successively convened a coal supply and demand convergence meeting and asked the enterprises in the province to ensure that key coal-based coal contracts maintain the 2010 price level and must not disguise their prices in any form. .
“Our summary requires that the coal supply and demand contract signed by the company be real and effective. For the signing of medium and long-term contracts, we will inform each site of the priority allocation of resources and railway transportation capacity,†said Wang Baofa.
In spite of this, Wang Baofa admitted that the soaring price of coal in the market has induced many companies to rely on profit-sharing instincts to be reluctant to sign key coal contracts whose prices are far below the market. This has led to a growing proportion of coal in the market. According to statistics from the China Coal Transportation and Marketing Association, the proportion of national key power coal contracts in power plants has dropped from 80% in 2004 to 60% in 2008, and is expected to reach 53% in 2010.
According to reports, in November, major coal producers such as Shenhua Group, Tongmei Coal Group, and China Coal Group continued to increase the sales price of coal for contracted coal in November in order to narrow the gap between market contract sales prices and actual market prices.
In response, Wang Baofa said that the Coal Transportation and Marketing Association will take certain measures for enterprises that have the ability to sign more agreements but have fewer contracts based on the final contract summary. "For example, for market coal outside the contract coal, it will reduce its resource allocation and railway capacity allocation."
Then, should the company's losses due to the supply of key contracted coal be guaranteed by the government? Wang Baofa said that the policy of subsidizing 7-8 billion yuan per year for enterprises in the past when the Ministry of Coal was revoked cannot be restored under the current background of coal marketization. Only rely on enterprises, especially central enterprises and local state-owned enterprises to protect the overall situation of coal supply.
The rise in electricity prices is just wishful thinking
Behind the unabated enthusiasm of coal companies is the reality that the power companies have recently exposed the entire industry's losses. Faced with this situation, at the 2011 Seaborne Coal Forum and Coal Market Situation Report held on the 21st, Jie Xianchen, former general manager of Zhongneng Electric Fuel Company, stated that the current coal price far exceeds the affordability of power companies, and the on-grid tariff Upgrading the 4 cents of power companies can stop them.
This statement of Jie Ju-chen can not help but think of the coal-electricity linkage mechanism that was opened twice in 2005 but was subsequently cancelled. According to this mechanism, a coal price linkage period of not less than six months will be adjusted, and if the average coal price in the cycle changes by more than 5% from the previous cycle, the price will be adjusted accordingly. “Actually, the current market coal price has risen by more than 5% compared to the first half of the year. Adjusting the price of electricity is ideal, but it is also a forced demand,†said a power company official.
However, the consensus that coal-fired electricity is more harm than good is already formed in the industry. Xing Lei, a professor at the China Coal Economic Research Institute of the Central University of Finance and Economics, told reporters that the implementation of coal-fired linkage policies not only has the suspicion of “returning to the plan†for electricity prices, but also the spiralling price of coal and electricity, which may trigger inflation fears. "The increase in electricity prices will affect the rise in the price of the entire society's electricity sector, and it may also cause coal prices to go up. In the end, the losses of electric power companies may not necessarily be reversed," said Xing Lei.
"Coal power integration" is the way to resolve?
In fact, the power companies did not sit still and let themselves be subject to coal prices and do nothing. In recent years, the five major power groups that are representatives of electric power companies have accelerated the pace of developing coal resources for upstream development and implemented the “coal power integration†strategy. This strategy also seems to be considered the most realistic choice for power companies.
Xing Lei believes that coal and electricity integration is the fundamental method to solve the contradiction between coal and electricity. If the power companies want to avoid the impact of coal price fluctuations, at least 30% of the coal supply must be in their hands. Xing Lei pointed out that from the perspective of foreign countries, coal-electricity integration is also a trend. In the United States after the energy crisis of the 1970s, it had also experienced a "controversy between coal and electricity" similar to that of China's coal power market. After this, U.S. Power Group also implemented the "coal power integration" strategy, vigorously constructed pit power plants, and implemented "coal power" and "energy exchange" "strategic alliances" with coal companies, which promoted the development of coal and electricity integration. . Especially in the U.S. western power companies and coal mines, coal and electricity integration is a widely used operating mechanism. It can ensure that coal companies organize production in a planned manner and maximize the benefits of the company. A series of measures have gradually improved the relationship between coal and electricity companies, and maintained the stability of the coal and electricity markets in the United States.
For "coal power integration," Lin Boqiang, director of the Energy Economics Research Center of Xiamen University, pointed out that the integration of coal and electricity will transform the external contradictions of coal and electricity into internal contradictions, which can only weaken the contradictions of coal and electricity, and cannot fundamentally solve the problem between the two. Dispute. Moreover, an unavoidable fact is that although major power companies have also increased their efforts to independently develop coal resources, domestic high-quality coal resources have basically been carved up. At present, only electric power companies can lump into lignite. Poor coal is a coal resource with low calorific value. In this regard, Xing Lei believes that if the coal and power companies are reorganized into one enterprise, although there are different departments within the same enterprise, the profits are reflected in a unified manner and the internal balance of the enterprise can be completely balanced. If the company is formed through the joint investment of both coal and electricity companies, it is entirely possible to share the company's earnings by investment proportion.
Jie Juechen stated that although the "coal power integration" is still controversial, it will still play a significant role in promoting the coordinated development of the two industries. Therefore, it has also been supported by national policies. The State Council's "Some Opinions on Accelerating the Merger and Reorganization of Coal Mines" not long ago put forward clearly: "Supporting competitive enterprises to carry out cross-regional, cross-industry, cross-ownership mergers and reorganizations, encourage strong enterprises to join forces, and encourage coal, electricity, and transportation. Integrated management."
At the time of closure, the convergence of coal-fired power production and sales involving the market-sensitive nerves of the coal-fired power industry has once again caused widespread concern in the industry, especially in the recent period when the coal supply and demand market is in a state of intense tension, which in turn triggers a surge in coal prices and a general loss of power companies. This concern has become even more eager.
Key contract coal will give priority to allocating capacity
On December 23, some media reported that most coal and electricity companies have not yet reached a consensus agreement on the supply of key contracted coal in 2011 at this time. China Coal Association announced the total amount of inter-provincial coal coal blending of 932 million tons, only about 100 million tons.
In response, Wang Baofa, deputy director of the China Coal Transportation and Marketing Association, told the reporter of the China Energy News that at present, all coal companies are stepping up the signing of key coal contracts with power companies. It is expected that the target of 932 million tons will be completed on time.
Wang Baofa’s confidence may come from the determination of coal authorities in various provinces and municipalities, which can be seen from the recent convergence of coal supply and demand in various provinces. In December, several major coal-producing provinces including Shanxi, Henan, Guizhou and other provinces successively convened a coal supply and demand convergence meeting and asked the enterprises in the province to ensure that key coal-based coal contracts maintain the 2010 price level and must not disguise their prices in any form. .
“Our summary requires that the coal supply and demand contract signed by the company be real and effective. For the signing of medium and long-term contracts, we will inform each site of the priority allocation of resources and railway transportation capacity,†said Wang Baofa.
In spite of this, Wang Baofa admitted that the soaring price of coal in the market has induced many companies to rely on profit-sharing instincts to be reluctant to sign key coal contracts whose prices are far below the market. This has led to a growing proportion of coal in the market. According to statistics from the China Coal Transportation and Marketing Association, the proportion of national key power coal contracts in power plants has dropped from 80% in 2004 to 60% in 2008, and is expected to reach 53% in 2010.
According to reports, in November, major coal producers such as Shenhua Group, Tongmei Coal Group, and China Coal Group continued to increase the sales price of coal for contracted coal in November in order to narrow the gap between market contract sales prices and actual market prices.
In response, Wang Baofa said that the Coal Transportation and Marketing Association will take certain measures for enterprises that have the ability to sign more agreements but have fewer contracts based on the final contract summary. "For example, for market coal outside the contract coal, it will reduce its resource allocation and railway capacity allocation."
Then, should the company's losses due to the supply of key contracted coal be guaranteed by the government? Wang Baofa said that the policy of subsidizing 7-8 billion yuan per year for enterprises in the past when the Ministry of Coal was revoked cannot be restored under the current background of coal marketization. Only rely on enterprises, especially central enterprises and local state-owned enterprises to protect the overall situation of coal supply.
The rise in electricity prices is just wishful thinking
Behind the unabated enthusiasm of coal companies is the reality that the power companies have recently exposed the entire industry's losses. Faced with this situation, at the 2011 Seaborne Coal Forum and Coal Market Situation Report held on the 21st, Jie Xianchen, former general manager of Zhongneng Electric Fuel Company, stated that the current coal price far exceeds the affordability of power companies, and the on-grid tariff Upgrading the 4 cents of power companies can stop them.
This statement of Jie Ju-chen can not help but think of the coal-electricity linkage mechanism that was opened twice in 2005 but was subsequently cancelled. According to this mechanism, a coal price linkage period of not less than six months will be adjusted, and if the average coal price in the cycle changes by more than 5% from the previous cycle, the price will be adjusted accordingly. “Actually, the current market coal price has risen by more than 5% compared to the first half of the year. Adjusting the price of electricity is ideal, but it is also a forced demand,†said a power company official.
However, the consensus that coal-fired electricity is more harm than good is already formed in the industry. Xing Lei, a professor at the China Coal Economic Research Institute of the Central University of Finance and Economics, told reporters that the implementation of coal-fired linkage policies not only has the suspicion of “returning to the plan†for electricity prices, but also the spiralling price of coal and electricity, which may trigger inflation fears. "The increase in electricity prices will affect the rise in the price of the entire society's electricity sector, and it may also cause coal prices to go up. In the end, the losses of electric power companies may not necessarily be reversed," said Xing Lei.
"Coal power integration" is the way to resolve?
In fact, the power companies did not sit still and let themselves be subject to coal prices and do nothing. In recent years, the five major power groups that are representatives of electric power companies have accelerated the pace of developing coal resources for upstream development and implemented the “coal power integration†strategy. This strategy also seems to be considered the most realistic choice for power companies.
Xing Lei believes that coal and electricity integration is the fundamental method to solve the contradiction between coal and electricity. If the power companies want to avoid the impact of coal price fluctuations, at least 30% of the coal supply must be in their hands. Xing Lei pointed out that from the perspective of foreign countries, coal-electricity integration is also a trend. In the United States after the energy crisis of the 1970s, it had also experienced a "controversy between coal and electricity" similar to that of China's coal power market. After this, U.S. Power Group also implemented the "coal power integration" strategy, vigorously constructed pit power plants, and implemented "coal power" and "energy exchange" "strategic alliances" with coal companies, which promoted the development of coal and electricity integration. . Especially in the U.S. western power companies and coal mines, coal and electricity integration is a widely used operating mechanism. It can ensure that coal companies organize production in a planned manner and maximize the benefits of the company. A series of measures have gradually improved the relationship between coal and electricity companies, and maintained the stability of the coal and electricity markets in the United States.
For "coal power integration," Lin Boqiang, director of the Energy Economics Research Center of Xiamen University, pointed out that the integration of coal and electricity will transform the external contradictions of coal and electricity into internal contradictions, which can only weaken the contradictions of coal and electricity, and cannot fundamentally solve the problem between the two. Dispute. Moreover, an unavoidable fact is that although major power companies have also increased their efforts to independently develop coal resources, domestic high-quality coal resources have basically been carved up. At present, only electric power companies can lump into lignite. Poor coal is a coal resource with low calorific value. In this regard, Xing Lei believes that if the coal and power companies are reorganized into one enterprise, although there are different departments within the same enterprise, the profits are reflected in a unified manner and the internal balance of the enterprise can be completely balanced. If the company is formed through the joint investment of both coal and electricity companies, it is entirely possible to share the company's earnings by investment proportion.
Jie Juechen stated that although the "coal power integration" is still controversial, it will still play a significant role in promoting the coordinated development of the two industries. Therefore, it has also been supported by national policies. The State Council's "Some Opinions on Accelerating the Merger and Reorganization of Coal Mines" not long ago put forward clearly: "Supporting competitive enterprises to carry out cross-regional, cross-industry, cross-ownership mergers and reorganizations, encourage strong enterprises to join forces, and encourage coal, electricity, and transportation. Integrated management."
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