Business

Government urges competitive coal market

The Government has assigned the Ministry of Industry and Trade (MoIT) to build a development roadmap for a competitive coal market as there are new coal suppliers.
Government urges competitive coal market ảnh 1The Government has assigned the Ministry of Industry and Trade (MoIT) to build a development roadmap for a competitive coal market as there are new coal suppliers.
(Source: dautu.vn) 
Quang Ninh(VNA) — The Government has assigned the Ministry of Industry and Trade (MoIT)to build a development roadmap for a competitive coal market as there are newcoal suppliers.

The State would graduallyreduce its control in the market while ensuring supply and demand balance.

Deputy minister Hoang Quoc Vuong held a meeting with the VietnamNational Coal and Mineral Industries Group (Vinacomin) and Dong BacCorporation in the northern province of Quang Ninh on on July 20 to studythe roadmap to ensure national energy security for socio-economic development.

The ministry would submit the proposal to the Government for approval with anaim to have a coal market which ensures local households’ consumption, pricesfollow supply and demand and export markets are actively built.

Following the meeting, the ministry would also work with coal consumptionhouseholds to resolve the industry’s difficulties. It would submit documents tothe Government instructing Electricity of Vietnam (EVN) and Vietnam NationalOil and Gas Group (PetroVietnam) to continue buying coal from Vinacomin andDong Bac Corporation this year.

The ministry would also allow the export of coal that does not depend on quotato help Vinacomin and the corporation balance their finances.

Vuong said coal demand has been diversified. EVN and PetroVietnam havedeveloped several thermo-power plants with consumption of some 10 milliontonnes of coal. Vinacomin also has its own thermo-power plants and BOTprojects.

It is forecast that coal demand for electricity production could reach morethan 100 million tonnes by 2030. Vietnam would have to import some 80 milliontonnes of coal, while local production would be 50 million tonnes per year.

Therefore, the ministry said the Government should have new policies for marketdevelopment.

Vinacomin’s general director Dang Thanh Hai said the group has signed ninelong-term contracts to provide coal for thermo-power plants.
Vinacomin suggested thatthe Government allow it to be active in building production and business plansbased on long-term contracts to ensure suitable inventory and effectiveness.

Hai proposed to export on a long-term basis coal which local thermo-powerplants do not need for electricity production to help Vinacomin be active inconsumption markets.

He added that Vinacomin and EVN’s power plants have not yet reached anagreement on coal selling prices for the period of December 26, 2016 to February28, 2017, which was why the two sides have not signed a coal purchasingcontract this year.

Earlier, EVN proposed to reduce two million tonnes of coal buying fromVinacomin to choose from two new units.

The reduction according to EVN’s proposal would make Vinacomin’s coalproduction costs increase and reduce effectiveness, he added.

The group asked the ministry to tell PetroVietnam and EVN not to buy anthracitecoal from other units this year to avoid losses for Vinacomin.

In addition, the ministry should have policies to encourage use of locallyproduced anthracite coal and limit imported coal as Vinacomin has claimedunfairness in taxes and fees.

Phuong Kim Minh, deputy general director of the Dong Bac Corporation, alsoproposed that the ministry stop new suppliers from being added for thermo-powerplants to ensure national energy security.

Minh also asked the Ministry of Finance to provide guidance o EVN, Vinacominand the corporation to agree on coal prices sold for power production.

The corporation also asked to export inventory coal for which there is nodemand in the local market. -VNA

VNA
#development roadmap #competitive coal market #coal suppliers #Vinacomin #national energy security #long-term contracts
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