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  • Coal
31 December 2018

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  • Indonesia

Regulatory obstacles in Indonesia could hamper coal production in 2019 and uncertainty about China’s import policy could also curb exports, even though a number of producers have announced tentative plans to raise output in the coming year.

A period of high prices that began in 2016 and lasted throughout much of 2018 on strong demand from main buyers China and India has prompted Indonesian producers to raise output where possible and several mining companies have announced plans to raise production even further in 2019.

China’s coal consumption rose during 2018 on increased demand from its electricity, steel, construction and chemical industries. Total imports of all types of coal reached 271.19mn t in the first 11 months, already narrowly exceeding the country’s import quota for full-year 2018, which had been set at parity to 2017 imports. India’s overall imports have also been driven up by surging power demand amid industrial and manufacturing growth, with its imports of Indonesian coal amounting to the lion’s share at 92.4mn t in the first 11 months, or just under 93.17mn t for full-year 2017, according to customs data.

Indonesia exported 356.5mn t of all types of coal in January-October, up by 35.5mn t from a year earlier, according to the latest data from government statistics agency BPS. This could theoretically put exports at an annualised rate of around 427.8mn t for 2018, although the Argus Seaborne Thermal Coal Outlook has forecast these exports at closer to 415mn t, given the weaker China seaborne demand from November. But even projected Indonesian exports of 415mn t would substantially exceed those of 2017 when Indonesia exported 389.47mn t, up from 369mn t in 2016.

The government raised the 2018 production target to 507mn t in September, although the Indonesian coal mining association (APBI-ICMA) does not expect the industry to reach this target, given the big drop in prices from November when China announced plans to tighten enforcement of its import quotas. Prices for the most actively traded fob Indonesian GAR 4,200 kcal/kg (NAR 3,800 kcal/kg) coal fell by 33pc from $47.19/t at the start of the year to $30.52/t on 21 December, according to Argus assessments, with the sharpest falls registered last month when a low of $28.73/t was recorded.

APBI-ICMA has also said it expects output to fall slightly in 2019 from 2018 to 480mn-500mn t. The likely total production for 2018 was not provided, although the government revised the production target in September from 485mn t to 507mn t, but did not announce any change to the domestic market obligation (DMO) that had been set at 121mn t.

Production plans

Some of Indonesia’s biggest producers such as Bumi Resources, Bukit Asam, Geo Energy, Delta Dunia and Harum Energy are looking to raise output in 2019 amid anticipated increased demand from India as well as new emerging markets such as Vietnam, Thailand and Cambodia, even as uncertainty looms over China’s import quotas for 2019. But the Indonesian government has not set an output target for 2019 yet or a DMO, which is normally set at 25pc of a producer’s output. This is making it harder for many producers to plan and industry insiders say some of the companies’ announcements about 2019 production hikes could prove overly ambitious.

Indonesia’s largest coal mining firm, Bumi Resources, has said it aims to boost its production in 2019 to 90mn t, subject to approval from the energy and mining ministry (ESDM), from an expected 83mn t in 2018. The firm produced 62.6mn t in January-September.

State-owned producer Bukit Asam has said it is aiming to raise its production by 7-8pc in 2019 to meet strong domestic power generation demand and on expectations of increased interest from Japan, Taiwan and the Philippines in its high-calorific value (CV) coal. The firm, which produced 19.7mn t in January-September, says it is on track to achieve its 25.54mn t target for 2018.

Bukit Asam is focusing on boosting output of high-quality coal GAR 6,100 kcal/kg and 6,400 kcal/kg coal from around 900,000t in 2018 to 3mn t in 2019 to take advantage of the higher prices these grades command in the premium seaborne markets of Japan, Taiwan and the Philippines.

Geo Energy, which was earlier in 2018 targeting 11mn-12mn t of coal output, will end up producing 7.5mn t, down slightly from 7.7mn t in 2017, largely because of China’s imports curbs, the company said. Chinese buyers take up 90-95pc of Geo Energy’s production. Geo Energy is targeting 14mn t of coal production in 2019, as it expects to take advantage of China lifting its imports curbs post the lunar new year from February 2019.

Delta Dunia produced 4.6mn t of coal in October, taking total output for January-October to 34.9mn t from 33.9mn t during the same 10 months in 2017. The company now expects to achieve output of 5mn t/month for November and December to hit the lower end of its 45mn-50mn t production target.

Harum Energy aims to produce 5mn-5.5mn t of coal in 2019, an increase of at least 8.7pc on the company’s expected 2018 output of 4.6mn t, in a bid to offset the effects of lower coal prices on company revenues. In particular, Harum aims to develop sales in emerging markets in Asia, such as Vietnam, the Philippines and Bangladesh. The largest foreign markets that Harum Energy currently supplies to are South Korea, Malaysia and China, which made up 34pc, 25pc and 19pc, respectively, of the company’s orders in January-September.

Some Indonesian producers are positioning themselves more defensively and starting to consider reducing output, although few have gone on the record announcing this. Others plan to keep output stable in 2019 given lower prices and uncertainty around China’s buying. Indonesian mining firm Kideco plans to keep production flat in 2019 at around 34mn t from 2018.

Indonesian coal mining company Adaro Energy has set a production target of 54mn-56mn t for 2019, it said in its work plan and budget submitted to the ESDM. Adaro will keep its 2019 production targets unchanged year on year amid uncertainty over Chinese import demand in the near term.

Sticking points

But despite plans by some firms to raise output, regulatory obstacles in Indonesia could further hamper coal production in 2019, according to APBI-ICMA. The biggest potential sticking points are uncertainty surrounding mining licences and some companies’ struggle to meet their DMOs.

Legacy mining licences, known as PKP2B contracts, will begin to lapse in 2019 and the process for extending or converting these remains unclear. This might force firms to freeze output expansion plans while they await clarification. Eight first-generation PKP2B concessions are due to expire in 2019-26, starting with Harum Energy’s Tanito Harum concession on 14 January.

Another factor that could limit production is the DMO requirement for producers to sell 25pc of their coal production on the domestic market. Firms that fail to meet this requirement are prohibited from increasing output and face having their output limited to four times their domestic sales volume. Some mining companies, especially the smaller ones, have struggled to sell their coal domestically because they do not produce the required specifications. Domestic power producers require coal in a 4,200-5,000 kcal/kg GAR range.

APBI-ICMA has also warned that it expects Indonesia’s dominant state-owned power producer PLN to consume only 22pc of the 25pc of production set aside under the DMO in 2018

The DMO was set at around 121mn t for 2018, but the association expects PLN to take around 92mn t at most, leaving around 29mn t unallocated. Although there are a few small private power generators, mainly in the form of captive power plants, these are not likely to make a serious dent on the unallocated volumes. This is also contributing to planning difficulties for producers as they try to second-guess likely Indonesian government policy on DMO targets as well as unpredictable Chinese demand.

  • Renewables
31 December 2018

 – 

  • Malaysia

Solar energy investments will be more affordable for Malaysians following the changes to the Net Energy Metering (NEM) programme, which was announced by the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC) in October.

From next month, residential consumers who generate solar energy for their own use under the NEM programme can sell their excess electricity to Tenaga Nasional Bhd (TNB) at the same rate that they buy from the utility. There will no longer be a difference between the selling and buying price of electricity.

This is an improvement to the NEM programme, whereby excess solar energy is sold to TNB at a displaced cost of 31 sen/kWh, compared with the domestic electricity tariffs charged by the utility, which can range from 21.8 sen/kWh (for the first 200kWh per month) to 57.1 sen/kWh (901kWh onwards), according to TNB.

The lower selling price was said to have contributed to the low take-up rate of the previous NEM programme. Under the old scheme, some 500mw of electricity could be sold to the utility from 2016 to 2020. Participants in Peninsular Malaysia could sell up to 90mw a year to the utility while those in Sabah could sell up to 10mw. The unused quota from each year can be carried forward to the following year.

According to data from the Sustainable Energy Development Authority Malaysia (SEDA), only 0.0274mw was taken up in 2016, but this grew to 4.9892mw in 2017 and 18.5096mw in 2018. The response in the domestic sector has been weaker than in the commercial and industrial sectors.

“A true net energy metering would be based on a 1:1 basis and this would give better returns to the owners of solar photovoltaic (PV) systems. Consumers should consider the new NEM programme as it has been improved from a net billing concept to a pure NEM scheme. This will help improve the return on investment for PV systems under the NEM and increase electricity savings per month,” says SEDA acting CEO Dr Wei-nee Chen.

For the 2019/20 period, 48mw of the 50mw allocated was still available for the domestic sector as at October. The excess electricity will be sold for energy credits that can be used and stored for up to 24 months. The NEM programme is now only available in Peninsular Malaysia while the previously assigned quota for Sabah has been converted into a self-consumption scheme.

 

Shorter payback period

Chen observes that the average household could install an 8kW solar panel system that costs RM36,000. Such a system could generate 800kWh of electricity a month while the returns depend on the household’s electricity tariff band. “Taking a ballpark figure of 50 sen/kWh, [from January] the payback period for the system will be 7.5 years with no loans,” she says.

The NEM makes sense for industrial factories with large rooftop space and commercial or domestic consumers with high electricity bills, she adds.

Alan Bong, business development manager of solar installation company Solarvest Energy Sdn Bhd, estimates that the payback period will be between 6.5 and 9 years. The cost of a full turnkey solar PV system, depending on the size, could range from RM5,000 to RM6,500 per kW.

The size of a PV system for a domestic consumer can range from 4kW to 12kW (single-phase power) or 72kW (three-phase power.) The maximum cap is in line with the NEM guidelines issued by the Energy Commission. Based on Bong’s estimates, a 4kW system could cost up to RM20,000 or more.

“With the 1:1 ratio for the export tariff, it makes more financial sense for domestic consumers to participate in the NEM scheme, particularly those who are paying more than RM330 a month in electricity bills,” he says.

“For example, a household in the Klang Valley that spends about RM330 a month will see savings of up to 60%, which is about RM200 to RM250 a month with a 4kW system. A system of that size would require about 258 sq ft of roof space to fit the solar panels.”

Ko Chuan Zhen, co-founder and executive director of solar installation company Plus Solar Systems Sdn Bhd, estimates a similar payback period of 8 to 10 years, considering the purchase of a 4kW to 12kW system, which is priced between RM24,000 and RM66,000.

According to an article in Personal Wealth on the previous iteration of the NEM in September last year, SEDA’s then chief operating officer Akmal Rahimi Abu Samah estimated that the payback period would be about 10 years for a consumer who pays the highest tariff block and purchases a solar panel that costs RM6,000 to RM7,000 per kW. For context, a 12kW system is suitable for a bungalow, he said.

In his view, the previous NEM programme would make sense for those with electricity bills that exceed RM500 a month because by generating electricity themselves, they can save money that they otherwise would have to pay TNB.

Ko believes that the cost of solar panels will continue to fall, although uncertainties in the market due to changes in China’s policy for imported solar panels as well as the US-China trade war may influence prices. Regardless, the revised NEM programme is good for residential, commercial and industrial players.

“I think it is attractive for the commercial and industrial market, but it is also encouraging for the residential market. In the past, when they were not at home in the daytime and not using electricity, they were only able to sell that through the displaced cost per unit and not the [lower] tariff rate,” he says.

 

New incentives to spur renewable energy generation

In addition to the revised NEM programme announced in October, the government announced several incentives to spur solar leasing and the trading of Renewable Energy Certificates (REC) as well as to attract Malaysians to invest in renewable energy.
“Behind-the-meters solar photovoltaic (PV) business models are emerging, such as solar leasing, power purchase agreements (PPA) and a hybrid of both. All these business models can be via direct deals between a solar investor and a client or by entering into a tripartite agreement with Tenaga Nasional Bhd under the Supply Agreement for Renewable Energy (SARE) programme,” says Dr Wei-nee Chen, acting CEO of Sustainable Energy Development Authority Malaysia (SEDA).
Through solar leasing, consumers can pay for the set up and use of solar panels under a monthly plan. If they choose to work with TNB, the utility will collect the monthly payments from them and remit these to the solar investor in exchange for a fee. The solar investor refers to a company that will install and own the solar panels.
“Consumers would have to look for their own solar lessor or investor. Going with TNB reduces the risk of consumers not paying because the utility can just cut off the main electricity supply if they owe money,” says Chen.
According to her, solar leasing makes sense for companies that want to manage their cash flow over a period of time before owning a system. The solar PPA, which is based on payments for the electricity generated, is ideal for companies that do not want to own the assets.

Solarvest Energy Sdn Bhd currently has a solar leasing option called the PowerLease Programme for commercial and industrial consumers. It will negotiate a monthly payment plan for a specified period of time.

“Under the leasing agreement, the consumer would pay the lessor for the electricity produced by the solar PV system at 5% to 10% lower than the TNB tariff. The leasing period is 20 to 25 years. At the end of the period, the system will be handed over to the consumer,” says Bong.

According to Ko Chuan Zhen, co-founder and executive director of solar installation company Plus Solar Systems Sdn Bhd, companies that want to benefit from tax and cost savings can just purchase the solar panels outright and obtain financing from banks. “They will have direct ownership of the solar panels. Even though they are taking a loan to own the asset, they qualify for a tax incentive from Malaysian Investment Development Authority for investing in green technology, which only applies to companies that own the asset,” he says.

Companies that prefer not to own the solar panels or benefit from corporate tax savings could go for the PPA model, he adds. “The concept is that the asset will be owned by the solar company, which rents their roof. We will sign a private PPA with them for a number of years, depending on how we negotiate the contract.”

Solar panel installation companies will have to carefully negotiate and select their clients, however, as it could be a long-term contract that spans decades. That is why it currently makes more sense for them to serve industrial or commercial clients, says Ko. “For residential segments, I think the payback from investments is not really there yet as the collection of payments will be more uncertain compared with companies.”

Bong agrees. The solar leasing concept is still new in the country, so companies like his will have to be careful in selecting clients. But he believes that eventually, solar leasing options will be available to domestic consumers too.

By next month, SEDA will have a directory of solar lessors or investors.

 

Trading environmental attributes

The trading of RECs is currently targeted at large companies. These are issued when 1MWh of electricity is generated by a renewable source of energy and delivered to the electricity grid.

In the REC market, which is available in the US and Europe, solar PV owners can sell their environmental attributes (EA) — the electricity generated from renewable energy — to a buyer, which are usually corporates that wish to power their premises with clean energy.

Similar trades can be done locally soon. Chen says this would particularly appeal to companies that are part of the global RE100 initiative, where 100 multinational businesses have committed to source 100% of their global electricity consumption from renewable sources by a specified year. The IKEA group and AEON are among these 100 companies.

“This will bring an additional channel of revenue for the PV owners. The corporate buyers of RECs will be the companies that ascribe to the RE100 sustainability framework,” says Chen.

The way one can sell the EAs is by being verified by a third party, such as SEDA, which was appointed by US-based technology service provider for sustainable energy APX Inc as the authorised verifier of the Tradable Instrument for Global Renewables (TIGR) Registry. After verification, companies can put their EAs up for trading in the REC registry platforms. Currently, there are two global platforms for the REC market — the I-REC and the TIGR registries.

It may be more difficult for domestic or individual REC providers to sell their EAs due to their relatively smaller size, but there could exist traders in the market who can package their RECs together. “Alternatively, a trader can aggregate the RECs generated by individuals to be sold to corporates,” says Chen.

The prices in the market will be determined by the supply and demand, type of renewable energy and age of the RECs. For example, those that are more than two years old may not be as valuable, according to Chen. The distance between the buyer and the REC provider also matters because some buyers require the provider to be in the same grid jurisdiction.

“Many companies are aware of the need for compliance with environmental, social and governance principles, but they are not aware that they can tap the REC market for that purpose. Then, the supply chain needs to be there as well, which are the small and medium enterprises,” says Chen.

“It is still a new market in Malaysia. Nevertheless, with more corporates facing international obligations to be environmentally conscious, RECs will be an affordable way for them to achieve their climate goals.”

  • Coal
31 December 2018

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  • Vietnam

VNA reported that the Vietnam National Coal and Mineral Industries Group has set the goal of earning a total revenue of VND 128 trillion in 2019, nearly VND 69 trillion of which will be from coal production. During a conference held in the northern province of Quang Ninh on December 26, the group said it will focus on mining projects and strive to produce about 40 million tonnes of coal, import around 4.6 million tonnes, and market roughly 42 million tonnes. The inventory is estimated at nearly 4 million tonnes by the end of next year.

In order to achieve such goals, Vinacomin will continue improving coal consumption, specialising coal transportation and trade. It will also build plans to sell coal mined in Hon Gai and prepared at Lang Khanh port for Quang Ninh and Thang Long thermal power and Thang Long cement plants.

At the same time, it will strengthen the management of natural resources, product quality, environment safety and protection, and protect coal in mines to prevent trade fraud.

As for export, Vinacomin will churn out high-quality products to serve such traditional markets as Japan and the Republic of Korea. The workers’ average salary will reach 11.3 million VND per month, up 4.7 times from 2018.

  • Energy Economy
31 December 2018

 – 

  • Singapore

It was reported that from January to March 2019, consumers can expect lower electricity and gas tariffs due to lower cost of natural gas for electricity generation and a drop in fuel prices from the quarter before.

Energy utilities provider SP Group announced yesterday (30 Dec) that the electricity tariffs will drop by an average of 1.2 per cent, or 0.28 cent, per kilowatt hour (kWh), from 1 Jan to 31 March next year, compared to the current 4th quarter (Oct – Dec 2018).

The provider which is wholly owned by Temasek, said that households’ electricity tariff will decrease from 24.13 cents to 23.85 cents per kWh for the coming quarter. This means that the average monthly electricity bill for four-room Housing Board flats will fall by $1 a month, excluding GST, it added.

This marks the first drop in electricity tariff after rising for five consecutive quarters since October 2017.

During the National Day Rally in Aug this year, Prime Minister Lee Hsien Loong said that Singapore “cannot control electricity tariffs because we import almost all our energy”. And because electricity is generated from natural gas, the cost fluctuates according to global oil prices, he said.

And according to Energy Market Authority (EMA), the average natural gas price (indexed to oil prices) of the preceding quarter is used to set the electricity tariff for the next quarter.

So, looking at the oil prices in the last number of quarters, indeed, oil prices had been increasing from Jul last year to Oct this year:

However, from Oct this year to today (31 Dec), there had been a drop of more than 35% in oil prices. And yet, the government only allowed the electricity tariffs to drop by an average of 1.2% for the coming quarter.

Delving into the matter further, it is noted that, according to EMA, Singapore’s electricity tariffs are calculated based on 2 components – fuel cost and non-fuel cost.

The fuel cost, or cost of imported natural gas, is tied to oil prices by commercial contracts, which change depending on global market conditions, EMA said. The non-fuel cost is the other costs, including delivering electricity to homes and other “market support”, “operation” and “market admin” fees.

Given that fuel cost dropped more than 35% but the total average tariff only dropped 1.2%, this can only mean that Singapore is highly inefficient in delivering electricity to our homes. Also, our “market support”, “operation” and “market admin” fees must be very high.

It would be good if EMA can breakdown the electricity costs further for all Singaporeans to see for the sake of transparency. What do you think?

  • Oil & Gas
  • Others
31 December 2018

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  • Malaysia

Singapore — Malaysia’s state-run oil and gas company Petronas has completed the acquisition of a 10% stake in a gas field in onshore Oman from Oman Oil Co Exploration & Production or OOCEP.

The acquisition was made by Petronas’ subsidiary PC Oman Ventures Ltd or PCOVL in Block 61 from Makarim Gas Development, a subsidiary of OOCEP, after the conditions for the completion of the transaction were fulfilled, Petronas said in a statement over the weekend.

PCOVL now holds a 10% stake in the block, Makarim Gas Development holds a 30% stake and BP Exploration (Epsilon) Ltd is the operator of the block with a 60% stake, Petronas said.

“The acquisition of Block 61 marks an important step in realizing Petronas’ growth strategy in the upstream sector in the region and globally, as it aligns its activities to ensure sustainable energy supply,” it added.

The Khazzan field in Block 61 is one of the Middle East’s largest unconventional gas resources and started production in late September 2017, according to BP’s website. In Phase One of development, the Khazzan field was already producing at design capacity of around 1 Bcf/d and around 35,000 b/d of condensate in 2018.

In April 2018, BP announced the development of Ghazeer, the second phase of the giant Khazzan gas field in Oman, expected to come on stream in 2021 and deliver an additional 0.5 Bcf/d and over 15,000 b/d condensate production.

The two phases are expected to develop an estimated 10.5 Tcf of recoverable gas resources and around 350 million barrels of condensate through the end of concession period in the Khazzan field, according to BP.

  • Renewables
30 December 2018

 – 

  • Vietnam

The practice follows the Ministry of Trade and Investment’s decree on developing grid-connected solar power projects which came into effect in October 2017.

It encouraged citizens to produce solar power at home to cover their domestic electricity demand and contribute to the national power grid.

The method has proved to be a worthy investment as it helps reduce electricity costs for residents.

About 860 families in the city have installed solar panels on their rooftops and registered to sell about 1 million kWh of electricity to the Electricity of Vietnam Group (EVN).

Nguyen Thi Thu Tham from Tan Phu district spent 50 million VND (2,150 USD) installing eight solar panels on her rooftop, which produce 300 kwH of electricity per month.

Ever since they got the panels installed, her family felt more comfortable using electricity-consuming appliances such as air-conditioners, fans and washing machines, Tham said.

“With seven members in our family, our electricity bill used to reach 1.5 million VND (65 USD) per month,” she said. “Now we only pay 500,000-700,000 VND (22-30 USD) per month thanks to the solar panels.”

Nguyen Dinh Hien in Tan Binh district got 12 solar panels installed, which helps him save about 1 million VND on his electricity bill each month. “I plan to get more panels as I still have space on my rooftop,” he said.

Residents are encouraged to sell the solar power they produce to the national power grid. However, a payment rate and tax rate have not been worked out by the city.

Nguyen Van Ly, Deputy Director of the HCM City Power Corporation, said: “We have not been able to figure out a payment mechanism between the seller and the buyer.

“We keep records of the amount of power that citizens have contributed and we have a fixed electricity retail price. But we haven’t been able to pay them due to some problems with the tax procedures.”

The company is waiting for instructions from the Ministries of Industry and Trade, and Finance on these matters, he added.

Nguyen Tan Hung, the company’s community relations manager, said the company will work to provide a free two-way electric meter for each household that installed a solar power system. This piece of equipment helps record the amount of electricity they transfer to the national power grid.

“We came up with this policy as an incentive to encourage residents, but haven’t been able to install the equipment in all households since there are too many of them all in the city,” he said.

Companies are also taking advantage of this opportunity to offer solar panel installation services with good incentives.

SolarBK, a Vietnamese provider of renewable energy solutions, is collaborating with the BIDV Insurance Corporation (BIC) to offer power output warranty packages for systems installed by July 31, 2019.

It also partners with the Bank for Investment and Development of Vietnam (BIDV) to offer clients preferential packages for 12-36 month loans, with a loan approval rate of 70 percent.

Research from SolarBK shows that due to the development of technology, a solar power system’s performance can be improved by 6.4 percent without having to increase the number of panels.

Considering the technological advancements that will take place in the coming years, even households with limited rooftop space can have a solar power system installed, a representative from the company said.-VNS

  • Renewables
30 December 2018

 – 

  • Vietnam

Three sites proposed for the reactor’s location include one in the Central Highlands province of Lam Dong and two in the southern province of Dong Nai.

The project follows an agreement signed in June 2017 between Russian state nuclear corporation Rosatom and the Vietnam Atomic Energy Institute (VINATOM) under the Vietnamese Ministry of Science and Technology.

According to the IAEA, operations of a research reactor requires a national infrastructure including a legal and regulatory framework to ensure that national and international obligations are met during planning, design, construction, operation, and decommissioning.

Accordingly, IAEA and related agencies have discussed about guidance on the preparation of a research reactor project which includes 19 issues ranging from nuclear safety and security to the fuel cycle, waste management, and funding and financing regulated in the IAEA’s Integrated Nuclear Infrastructure Review for Research Reactors (INIR-RR).

The discussions were held in Hanoi on December 3-7.

The Vietnamese delegation provided a number of documents to facilitate the assessment of the national nuclear infrastructure developed in preparations for the new research reactor project. The new facility is to serve diverse needs, such as in education, training, radioisotope production and materials science.

“Vietnam has demonstrated strong government support and understanding of long-term national commitments for developing the nuclear infrastructure for the new research reactor,” said mission leader Andrey Sitnikov.

Vietnam, with the support of IAEA and Russia (formerly USSR), assumed the operations of Da Lat Nuclear Research Institute in Lam Dong’s Da Lat city in 1984. Currently, it is Vietnam’s only reactor researching and producing radioactive products.

Vietnam has outlined an ambitious plan to develop nuclear energy by building two nuclear power plants with total capacity of 4,000 MW in the central province of Ninh Thuan under Russia’s support.

The two projects, which were estimated to cost VND200 trillion (US$8.7 billion) and put into operations by 2028, were rejected by the National Assembly in 2016, attributing economic reasons to the reject.

  • Electricity/Power Grid
  • Energy Economy
30 December 2018

 – 

SINGAPORE: Electricity and gas tariffs are set to drop in the first quarter of 2019.

Electricity tariffs will decrease by an average of 1.2 per cent or 0.28 cent per kWh from Jan 1 to Mar 31 next year, compared to the previous quarter, SP Group announced on Sunday (Dec 30).

Households’ electricity tariff will fall from 24.13 cents to 23.85 cents per kWh. In effect, the average monthly electricity bill for four-room HDB flats will decrease by S$1, SP Group said.

Electricity 1

The lower tariffs are mainly due to the lower cost of natural gas for electricity generation compared to the previous quarter.

This marks the first fall in tariffs since the last quarter of 2017, when the household tariff was 20.30 cents per kWh.

image: https://www.channelnewsasia.com/image/11073386/0x0/1097/426/34ccf439bcd576791218748f1b63c375/HD/electricity-2.png

Electricity 2

SP Group reviews electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.

GAS TARIFF TO DECREASE

In a separate news release, City Gas also announced on Sunday that gas tariffs will decrease in the first quarter of 2019 by 0.81 per cent or 0.16 cent per kWh, from 19.67 cents per kWh to 19.51 cents per kWh.

This is due to a decrease in fuel costs compared with the previous quarter, City Gas said in its media release.

“City Gas reviews the gas tariffs based on guidelines set by the Energy Market Authority (EMA), the gas industry regulator,” the release said.

image: https://www.channelnewsasia.com/image/11073414/0x0/768/349/8e3191968718d64633ce1c13f0ce91fb/kA/city-gas-table.png

City Gas table

Source: CNA/mn

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