CHINA imported 508 million tonnes of crude oil in 2022, down from 513 million in 2021 and 542 million in 2020, according to preliminary data from the General Administration of Customs. Slower imports as the country grappled with intermittent lockdowns eased pressure on global petroleum supplies. But the economy’s re-opening is likely to boost crude imports and tighten the market in 2023:
COAL-FIRED generators typically require 2-3 hours from initial notification to reach full power from a hot start, 6-7 hours from a warm start, and 10 or more hours from a cold start. Assuming the two massive coal units at Drax are typical, if the U.K. transmission operator wants them to be available during the evening peak from 1600 to 1900 GMT, notice to light up and begin warming must be given by 0600 GMT. If the forecast reserve margin improves during the day, however, the stand-by notices can be cancelled later, as happened on December 12.
The table below shows typical timelines for coal-fired and gas-fired generators showing how it takes (1) from initial notification from the grid controller to synchronisation with the grid – at which point the generator can start providing power to the network; and (2) from synchronisation to reaching maximum power output (“Technical Assessment of the Operation of Coal & Gas Fired Plants,” Parsons-Brinckerhoff for the U.K. Department of Energy, 2014):
LONDON and southeast United Kingdom are now a quarter of the way through the typical heating season. After an exceptionally warm period from mid-October to late November, which depressed heating demand, temperatures have plunged far below normal, erasing the earlier deficit in degree days, and putting winter heating demand on an entirely different trajectory: