Page 10 - AsiaElec Week 34

AsiaElec
NEWS IN BRIEF
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“Subsequently, India’s coal importers have sourced supplies from the low-cost producers in Indonesia that supply lower energy content coal and have lower shipping costs for delivery to India.
“However, the energy content premium that Australia’s coal typically attracts is getting smaller and key benchmark prices for Australian and Indonesia coal are getting closer,” the report added.
Shanxi province to cut
18.95mn tonnes of coal
overcapacity
North China’s Shanxi Province plans to reduce 18.95mn tonnes of coal production capacity by closing 18 coal mines this year.
Twelve of the 18 coal mines to be closed have an annual output of 600,000 tonnes or less, according to a work team tasked with guiding the work to cut overcapacity of the province’s coal and steel industry.
Shanxi plans to close all its coal mines with an annual output of less than 600,000 tonnes by the end of 2020, when the annual output of a single coal enterprise should be more than 3mn tonnes, through mergers and reorganization.
As the coal-rich province seeks greener growth, Shanxi has closed 88 coal mines and cut 88.41mn tonnes of overcapacity from 2016 to 2018, leading the country in cutting coal overcapacity. e advanced coal production capacity in Shanxi has increased to 68 percent of its total coal capacity.
TRADING
KEPCO trails blockchain- enabled power trading
Power Ledger in partnership with Japanese utility, KEPCO, trialed a blockchain-enabled demonstration of P2P transaction for post- FIT surplus power in Osaka, proving the accuracy and consumer acceptance of Power Ledger’s leading-edge technology in Japan in addition to Australia.
e trial proved P2P surplus power transaction to be completed autonomously and automatically including settlements with cryptocurrency regardless of uctuations of PV generation and customer demands. It can be deployed not only in detached houses but condominiums and microgrids.
“Although there are still many challenges like amendments of relevant laws for
commercialization, Power Ledger’s product presents signi cant opportunities for prosumers to sell their excessive energy at more advantageous prices and for consumers to buy it at more a ordable prices,” said KEPCO representative general manager Fumiaki Ishida.
Power Ledger managing director David Martin said the successful outcome was built on Power Ledger’s previous work in Australia, ailand and the United States.
“ e success of the KEPCO trial is an extension of successful projects Power Ledger has deployed in other markets leveraging the ongoing development of our technology as well as the experience of working with major energy players like KEPCO,” Mr Martin said.
“Power Ledger looks forward to building on this success and continuing to work
to support KEPCO’s innovative plans to maintain its leadership position in the energy transition,” he said.
Power Ledger will continue the development of digital energy products designed to engage consumers to increase the penetration of distributed renewable generation capacity in Japan, while providing consumers greater choice over how their energy is produced and from where their energy is sourced.
POWER LEDGER
RETAIL
Shell enters Australian power market
Royal Dutch Shell has entered Australia’s highly competitive power sector with a A$617mn ($419mn) takeover o er for ERM Power, the country’s no.2 energy retailer to businesses and industry, Reuters reported.
Shell is set to gain 25% of the country’s commercial and industrial retail market, second only to Origin Energy, as well as two gas- red power stations. Shell wants to use its global scale in oil and gas to build a power business as the world rapidly shi s toward cleaner energy. It plans to boost annual spending on the strategy to $2-3bn by 2025.
“ is acquisition aligns with Shell’s global ambition to expand our integrated power business and builds on Shell Energy Australia’s existing gas marketing and trading capability,” Shell Australia’s Country Chair Zoe Yujnovich said in a statement.
ERM agreed to the o er, pitched at a big 43% premium to its last closing price, and recommended shareholders should accept
it in a vote expected in November. ERM’s founder and top shareholder, Trevor St Baker, who speaks for 27% of the company’s shares, said in a statement he would accept the o er of A$2.465 a share if no higher bid emerges.
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Week 34 27 •August•2019