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Indonesian President signs new rule on domestic coal pricing – Official

Indonesian President Joko Widodo has signed a government regulation authourising the energy and mineral resources minister to set the price of coal for the domestic market, Coal and Minerals Director-General Bambang Gatot said.

Further details on the pricing plan will be outlined in a ministerial decree expected to be announced soon, Gatot told parliament on Wednesday, declining to comment further.

Indonesia plans to keep electricity tariffs and fuel prices unchanged this year and the next by hiking subsidies, government officials said earlier this week.

Perusahaan Listrik Negara (PLN) Chief Executive Sofyan Basir urged Widodo last week to fix domestic coal prices at between 60 and 70 dollars per tonne for two years.

Indonesian domestic media reported on Friday that the energy ministry has agreed to set prices at 70 dollars per tonne.

Indonesian Coal Benchmark Price (HBA) was set at 101.86 dollars per tonne for March, its highest since May 2012.

The government has been working on plans to regulate domestic coal prices since late 2017, and the discussions have impacted some miners’ share prices.

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