Softening Coal Prices and Improving Demand Will Drive a Better 2017 Outlook for Coal-Fired IPPs.
Despite improving power demand, China’s coal-fired independent power producers’, or IPPs’, fourth-quarter profits are set to be hit by surging coal prices. The benchmark Bohai-Rim Steam-Coal Price Index weekly average rose 58% year over year to CNY 595 in the fourth quarter, or up 25.3% sequentially. We estimate the operating margins for major coal-fired IPPs will be just around breakeven in the fourth quarter. For 2017, while the government’s confirmation that power tariffs will be unchanged is...Huaneng Power International is engaged in investment, construction, operation and management of power plants. Through its subsidiaries, Co. is also engaged in power generation; development of wind power project; production and sale of electricity; heat supply; construction and operation of power plants and related construction projects; wholesale of coal; construction, operation and management of hydropower, cogeneration power and related projects; provision of utility services; and consultancy in waste recycling industrial waste management and recycling. As of Dec 31 2010, Co. had controlling generation capacity and equity-based generation capacity of 50,935 MW and 45,340 MW, respectively.
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