COAL: LWB Renegotiates Coal Contracts with Enea, Reducing Contract Value
Jan-23 10:40
Poland’s Lubelski Węgiel Bogdanka (LWB) has renegotiated its coal supply contracts with Enea Wytwarzanie (EW) and Enea Elektrownia Połaniec (EEP), extending the duration of the agreements and adjusting coal volumes and prices, it said, cited by ISB News.
- These changes have led to a significant reduction in the total value of the contracts, with EW’s agreement dropping to PLN15.96bn (€3.79bn) and EEP’s to PLN3.4bn for the 2025-2033 period.
- The new agreements were originally expected to run until 2029.
- The total value of the EW agreement for 2017-2036 is now PLN27.18bn net, 16.1% lower than the previous estimate in 2023.
- The value of the EEP contract for 2013-2033 is now PLN7.77bn net, a 7.4% decrease from the prior estimate last year.
- Additionally, key changes in the agreements also include new coal supply volumes for both EW and EEP, and updated coal prices for 2025.
- At the end of 2022, LWB held a 16.5% share in Poland's hard coal market, 21.7% in the thermal coal market, and 27.1% of the coal sold to professional power plants.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
USD: Extending Broader highs
Dec-24 10:37
- The Dollar is still on the front foot, at a new intraday high against the CAD, SEK, NOK, CNH, KRW, CNY, and CZK.
- Despite the small recovery in Oil, the NOK is still the worst performer in G10s against the Dollar, down 0.34%, and USDNOK now edges above Yesterday's high.
- Main resistance is still at the big Psychological level of 11.5000, managed a 11.4769 high last Week, its highest since March 2020.
COMMODITIES: Copper Gains Alongside US Equity Futures
Dec-24 10:20
| WTI Crude up $0.41 or +0.59% at $69.62 |
| Natural Gas up $0.07 or +1.91% at $3.719 |
| Gold spot up $4.96 or +0.19% at $2617.59 |
| Copper up $2.75 or +0.67% at $410.9 |
| Silver down $0.07 or -0.22% at $29.5901 |
| Platinum up $1.65 or +0.18% at $943.56 |
EQUITIES: US Futures Point to Mildly Higher Open
Dec-24 10:18
| Japan's NIKKEI closed lower by 124.49 pts or -0.32% at 39036.85 and the TOPIX ended 0.52 pts higher or +0.02% at 2727.26. |
| Elsewhere, in China the SHANGHAI closed higher by 42.271 pts or +1.26% at 3393.528 and the HANG SENG ended 215.16 pts higher or +1.08% at 20098.29. |
| Dow Jones mini up 23 pts or +0.05% at 43342, S&P 500 mini up 7.25 pts or +0.12% at 6042.75, NASDAQ mini up 37.25 pts or +0.17% at 21789. |
