EVN has seen a sharp rise in imported coal and oil prices

Imported coal prices in July grew by 17.5% against those in June, 51.8% against the average prices in the first six months of this year and 250% on-year.

Newcastle coal’s average imported prices increased by USD98.8 per tonne in the first half and USD150 per tonne in July. The figure rose to USD159.7 per tonne in the first ten days of August. Meanwhile, (heavy sulphur fuel oil) HFSO prices in July grew by 23% compared to the first six months of this year and 68.3% on-year. Since the beginning of August, HSFO prices increased by USD419 per tonne to USD374.4 per tonne.

EVN reported that coal and oil-fuelled electricity accounts for up to 51% of the group’s electricity sources.

The group added that as the water level at many hydropower plant reservoirs remained low it had affected operations. EVN has to buy more coal and oil for thermal power plants.