Price of woody biomass and competition between woody biomass buyers is another important factor which may reflect on end wood chips price.
It is important to stress that most of the wood in Mali Zvornik area is hardwood, being more expensive then softwood. It is also important to stress that due to increased demand sawmill residues prices are growing.
On the other hand price of firewood and woody biomass is not increasing significantly. Still sawmill residues represent most competitive raw material for wood chips production. It can be expected that supply to Mali Zvornik organized by local sawmills or existing wood chipping companies will focus on utilizing sawmill residues. Chart below presents expected price of wood chips delivery to DH Mali Zvornik. Prices are based on raw material prices and raw material costs presented in table 2. For sawmills and wood chipping companies woody biomass price is calculated at 25EUR per ton, as the market price wood chipping companies are paying for sawmill residues and sawmills are selling their residues.
For sawmills developing wood chipping business to supply Mali Zvornik DH plant, transport costs for woody biomass, if assumed they will use their own sawmill residues at sawmill and chipping site, are not calculated, while for existing wood chipping companies supplying from other sawmills, transport costs of woody biomass are calculated at 3EUR per ton, having in mind that they collect sawmill residues and store it on wood chipping company location before wood chips production.
Wood chips delivered to DH plant 55 Margin and investment costs 15 Wood chips Transport 6 3. Manipulation 2 3. Chipping 4 6. Biomass transport 3 0. Woody biomass 25 Having in mind that existing woody chipping companies will transport wood chips to DH Mali Zvornik from distances over km transport costs of wood chips are calculated at 6EUR per ton, while for existing sawmills developing wood chips supply, transport costs for wood chips will be lower due to their proximity.
On the other hand unit costs of wood chips manipulation and wood chipping, are dependent on production capacities higher the production is, lower the costs are. For existing wood chipping companies, costs of wood chips manipulation are calculated at 2EUR per ton, while for local sawmills those costs are calculated at 3EUR per ton.
Finally, wood chipping unit costs for existing wood chipping companies having large wood chips production capacities are set at 4EUR per ton, while for local sawmills those costs are calculated at 6EUR per ton. Margin and investment unit costs are for both options calculated at 15EUR per ton. For further economic calculations in this Report average price of It is possible that due to competition of suppliers price is reduced to certain extent. Also, in case of reduction of woody biomass prices or decrease of other inputs, price can be reduced, but so far we cannot confirm it can be expected.
Contracting of woody biomass can be done annually or long term. Considering future DH plant demand for wood chips and that long term supply contracts for woody biomass supply are not common in Serbia and do exist only for larger quantities of wood above 30, cbm for some chipboard and wood pellet factories, we can recommend option. Contract conditions for wood chips tendering should be set in order to ensure secure supply of wood chips with required quality.
Selected wood chips suppliers need to guaranty delivery of contracted quantities of wood chips at required quality level. Procedures for measurement and quality determination should be a part of the contract. On the other hand buyer of wood chips needs to guarantee takeover of contracted quantities. Contracted price should be indicated in relation to quality of delivered wood chips yet in units practical for measurement.
Point of delivery needs to be specified as DDP DH plant Mali Zvornik, meaning that wood chips seller have the obligation of wood chips delivery to DH plant with all costs included at contracted wood chips price. Contracted quantities needs to be guaranteed, meaning that contract should be backed by sellers provision of bank guaranty or a bill.
Failure to fulfil delivery of contracted quantities needs to be subjected to penalties. Formula below can be suggested for calculation of penalties for non-delivery of contracted quantities:. Buyer also needs to be subjected to penalties in case of not taking over contracted quantities. Formula below can be suggested for calculation of buyers penalties for not taking over contracted quantities:.
Preliminary delivery schedule, based on contracted quantities, should be determined on monthly basis and needs to be indicated in the contract. However, delivery of biomass can be organized with sellers consent according to buyers demands on weekly or 15 day basis.
Penalties can be linked with failure to fulfil monthly supply according to the contract. Except penalties, contract cancelation with supplier can also be included if significantly fails to deliver contracted quantities for two months in a row. Measurement procedures and quality control should be determined by the contract, along with units used for wood chips measurement. We suggest utilization of bulk cbm as a unit for wood chips measurement.
Application of this unit does not require investments on truck scales needed for weight measurement, while delivered quantities can be determined by simple measurement of wood chips transport trailer volume.
Application of bulk cbm as a unit, needs to be followed with control of water content of delivered wood chips. Control of water content can be efficiently organized with. Every shipment of wood chips can be controlled by probe insertion to a wood chips bulk at every corner of the trailer used for transport and additional 4 probes insertion to a wood chips bulk after unloading if possible.
Average of measured water content values should be determined and used for price evaluation. Additional quality control should include particle size control and compliance with contracted particle size according to Serbian wood chips standards. Also, control should include inspection of wood chips properties in terms of rot, decay or presence of matters other than wood chips.
For non- compliance with contracted quality reclamations and reduction in terms of wood chips volumes to be paid should be applied. For reduction or increase of price we suggest method presented in a table below. Table Correction factors for wood chips prices Correction factors should be applied on contracted price to determine actual price of wood chips form every shipment. As mentioned, we can recommend annual contracting of wood chips delivery, since there is no usual practise of long term contracts for wood chips delivery in Serbia yet.
However, if long term contract is applicable this can be an adequate solution as well. In this case price should be indicated but possibility for price escalation should be accounted as well. Conditions for price change should be determined in the contract. Price can be subjected to annual change or price can be change in relation of the change of significant factors influencing the price.
In case of long term contact following formula accounting wood chips price escalation can be applied:. Condition Criteria Explanation Fulfilment of basic Elimination criteria According to the Law on public procurement all conditions set by companies or their subcontractors participating in the Law on public public tender need to submit: procurement6 Proof of registration Proof of not being criminally processed or convicted Proof they have paid taxes Security of supply Elimination criteria Bank guarantee or signed bill Wood chips quality Elimination criteria or rejection criteria at biomass Quality should be indicated in concordance with Serbian range takeover solid biofuels standard SRPS EN Exact particle size and water content should be declared according to incineration technology requirement.
Usual particle size is P16 to P45, while usual water content is M30 to M Origin of wood Elimination criteria Wood chips supplier should present proof of origin of contract for raw wood chips contract for raw woody biomass supply. In woody biomass case of sawmills wood supply contract should be submitted and reviewed. Lower price should have an advantage. Payment conditions Selection criteria Payment should be indicated in number of days after wood chips delivery.
Delivery schedule Selection criteria Preliminary delivery schedule should be indicated on and quantities of monthly basis before contract completion. Confirmed woody biomass delivery schedule , on 15 day or weekly basis when delivery starts.
Procedures required by Law on public procurement in tendering process need to be fulfilled by any public sector tender organizer. Goal of these procedures is to reduce possibilities for corruption or other criminal actions.
Fulfilment of basic conditions set by the Law on public procurement should be an elimination criterion. Security of supply needs to be provided and contracted quantities need to be secured via bank guarantee or signed bill on the value of contracted quantities. This should be an elimination criterion.
Required wood chips quality range needs to be clearly determined in the tender process. Particle size needs to be indicated in the tender procedure.
Particles larger than required size can jam wood chips transporting system. Water content directly affects energy content of delivered wood chips. Water content also can affect combustion. Official Gazette of the Republic of Serbia no. Fulfilment of these conditions should be rejection criteria at takeover of the biomass which can lead to contract cancelation.
In order to ensure sustainability of forest management and woody biomass supply, proof of woody biomass origin proving that woody biomass is obtained in accordance with forestry regulation is required.
In order to prevent illegal logging for wood chips production, contracts between forest owners or managers for raw wood or woody biomass supply should be delivered.
Proof of woody biomass origin and contract backing up woody biomass supply for contracted quantities of wood chips needs to be an elimination criteria. Price of wood chips reflects on profitability of DH operations and the end consumer price. Usual model for wood or wood chips payment in constant delivery is 15 or 20days after delivery. Payment can also be organized in weekly or 15day lots, meaning 20days after all deliveries during one week or 15day period.
Payment can be either set as condition in the tender or used as a selection criteria based on suppliers offers. Delivery schedule directly influence investment costs of DH plant in terms of wood chips storage.
Seasonal quantities of woody biomass need to be indicated by the potential suppliers. Potential suppliers at a tendering process should be ranked based on wood chips price per dry ton, with possible ranking based on payment conditions, if all other conditions are met. Finally quantities should also be used for ranking, especially in case there are suppliers who have competitive prices but not enough quantities to cover DH plant demand. In that case, contracting with several most competitive suppliers can be decided.
The table below gives an overview of the investment costs for the biomass based heating plant with a gas fired back-up boiler. Item No. Fuel storage and handling, equipment and area Thermal plant with boiler Ash disposal facilities Electrical equipment, electrical installation works Interface sub-station Cooling water facilities, if any 0 0 7.
Civil works Connection to electrical grid for power feed in 0 0 9. Connection to DH network Commissioning Planning costs incl. As the network is very old it is recommended to replace the entire network. The heating mains north will be substituted by the above mentioned connecting pipeline. Therefor these costs are not considered any more as complementary investments. Existing network DN route length costs Heating mains north 0m 0 Heating mains north 0m 0 Heating mains east m For the evaluation of investment options the technical project parameters have been applied based on the elaborations presented in the previous, technical chapters.
The investment options analysed for Mali Zvornik include. The technical variants consider respective data on Production of heat Fuel consumption Heat consumption, tariffs and revenues Operating costs considering fuel input, materials and staff.
For the determination of cash flows for the project evaluation of a specific technical investment variant only incremental costs are applicable. In the following table the total energy cost are presented to show relevant changes in this key cost factor. With regard to energy cost, the prices of fossil fuels are estimated to follow a gradual recovery from recent sharp declines as shown for regional data in the graph below. Current international market analysis projects a growth pattern bringing oil prices to the longer term trend over the medium term7.
These projections have been adopted for an escalation scenario of fossil fuel prices in real terms as shown in the table below. The energy costs following from the implementation of the project are subsequently balanced with the time series of energy costs determined for the case of the toplana without the project section 7.
Other cost items including materials, staff and administrative items are only given on an incremental basis. All technical variants have also been subjected to economic analysis considering benefits from import substitution of fossil fuels valued at the cost of biomass avoided emissions. Data related to emissions vis--vis the projection of existing facilities including measures under implementation have been elaborated in the technical sections of this report.
Costs of CO2 are determined in line with the IPCC approach, which calculates the 'social cost of carbon' in terms of future damages. The cost of future emissions is dependent on the inherent uncertainty in projected volumes of emissions and therefore how much global warming will occur. Discount rates and non-monetary values also have to be accounted for. The format of economic evaluations carried out for all technical variants and degrees of plant availability is presented in Table In order to compare the project on the basis of investment and operating costs only, the LUC for heat production have also been determined.
Operational costs of consist of the operating costs of the baseline, i. The attribution of annual totals of cost to the respective annual heat outputs have been discounted at 2. Table 23 presents the format used for these analyses. External Benefits - in 1, EUR - -2, Existing 9.
The project has been tested for modifications in key assumptions so as to examine on changes of results. The financial IRR is considered a central indicator of project benefits. It is consequently used to evaluate the sensitivity of project profitability by alternating possible positive and negative changes to assumptions. Changes in real terms percentage additions costs and prices Investment costs - Percentages added to investment cost budget Incremental operating costs - Percentages added to all non-energy operating costs Initial price of biomass wood Initial level of prices of fossil fuels Plant availability.
The sensitivity analysis clearly demonstrates the critical impact of assumptions on prices of fossil fuels on the project profitability. For negotiable parameters of investment and the biomass purchase price, results for individual values are presented. Basecase Variations Investment - mn. EUR 2. The Toplana presently applies a dual tariffing system charging a fixed price per square meter as well as a variable rate per kWh.
Private Households However, its implementation is lagging due to lack of required infrastructure. Also, it is unlikely that full implementation can be expected for the next heating season. The split is calculated based on the projected total revenue per customer category. The area based fixed portion would consequently change For institutional customers it is calculated as Based on the information received from the Toplana, past financial data and development plans have been reviewed.
The following tables present standardized formats of both the profit and loss statements and the balance sheets for the past three years. They include all business handled by the utility in charge of heat supply. Bank fees Subsidies 2. Total Assets 1, 1, 1, Item Total Liabilities and Equity 1, 1, 1, For the projection of the financial development of the Toplana the present situation has been considered as well as the technical changes currently planned.
Projected revenues are based on the demand trends and envisaged system developments described in the chapter on the heat market. An average of the level of subsidies at 0.
No specific information on regulations and basis of subsidies was received. Despite the improvements in operational parameters, short term debt would further accumulate to unacceptable levels.
Under the given assumptions losses would further accumulate. The financing of these shortcomings was assumed to be covered by short term debt. Bank fees -0 - -2 Interest Income 1 3 - - - - - - - - - - - - - - - Other Financial Income incl. Subsidies 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Profit after Financial Items -4 20 Taxable Profit -4 20 Corporate taxes - -3 - - - - - - - - - - - - - - - Net Profit after Tax NPAT -4 17 Total Liabilities and Equity 1, 1, 2, 2, 2, 2, 2, 2, 2, 2, 2, 2, 2, 2, 1, 1, 1, Residual Value represents the final value of the entity including valuation of fixed assets and working capital.
Projected cash flows based on the given assumptions would result in a negative debt capacity. No debt to the Republican Directorate for Commodity Reserves was indicated. For a forecast of the development of toplana given the implementation of the project, assumptions have been entered into the projections of financial statements of the company.
Specifically the following parameters have been considered: Investment cost estimates and scheduling Energy cost changes considering avoided cost for heat production and Incremental operating cost items pertaining specifically to the operation of the project regarding - Consumables - Ash disposal - Staff cost - Administrative cost eg insurance of new equipment.
The following tables present the effect of the project in the projected financial statements of the company. Demand projections include both increasing consumptions reflecting the 24 hour heating from Bank fees -0 Interest Income 0 2 2 2 4 4 3 0 0 0 0 0 0 0 0 0 0 Other Financial Income incl.
Subsidies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Profit after Financial Items -6 8 Corporate taxes - -1 - - - - - - - - - - - - - - - Net Profit after Tax NPAT -6 7 In order to provide some information on the debt position of the municipality, being the owner of the utility, data for the calculation of relevant indicators has been investigated.
In the case of Mali Zvornic information was received, that presently no debt is held by the municipality. Based on the annual revenues, the calculation results in an undrawn potential debt of 2.
Zvornik was founded in The company employs 69 workers who were assigned to the five organizational units such as:. Legal affairs, Economic, commercial affairs Water supply and waste collection.
Production and distribution of thermal energy Maintenance of greenery. The manager of production and maintenance is highly qualified and experienced. The Toplana is capable to manage the realization of such a project with the assistance of a consulting engineer. The Toplana has strong support from the local government for this project. Purchase of biomass Biomass logistic on site Boiler plant operation Heat sales Qualified boiler operator Operation of wheel loaders.
The existing staff is able to operate a biomass HoB after the above mentioned trainings. The plant itself will need following staff members:. The recruitment policy will have to consider these jobs if the existing staff will not be available for the additional tasks. Vienna, Basic characteristics - Baseline Mali Zvornik Network:. General city data Number of citizens in the city not the whole municipality -- 4.
Generating facilities: Number of operational boilers -- 3 Total installed capacity of the heating plant MWt 6,6 max. Boiler No. Boiler manufacturer -- EMO Celje. District heating network data: Average length of heating season days Shut off during the night?
Total connected capacity MW 5,3 Total route length of distribution network m 2. Number of commercial units connected to DH- system -- 3 Number of sub-stations for commercial units -- 0 Total heated area of commercial clients m 1. Toplana's company data: Total utility Number of staff pers. Accounts payable 1, Accounts receivable 1, Municipality financial data Total annual revenues 1, 5.
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Jump to Page. Search inside document. Vasilijevic Date Revision No. Editor Checked by Approved by Signature Reliable data to be provided by the DHC is: Monthly fuel consumption Heat delivered to the end consumers heat meters! Network length Supplied square meters connected area Boiler efficiencies plausible values The only data based on measurements are the monthly natural gas demand of all 3 boilers and the consumed heat of each building as heat meters have been installed in the last year which led to a significant decrease of the heat demand.
The potential future heat demand is characterized by: connecting of approx. Heat generation The heating plant is situated in the basement of a big residential building in the city centre and comprises of 3 natural gas fired warm water boilers. District heating network The district heating network was erected in the year and up till now nearly no pipes have been exchanged. Table 3: Key data of the DH network The figure below shows the existing network in red colour while the new transport pipeline from the site of the new biomass heating station to the city centre existing heating station is marked with violet colour.
Individual Sub-stations Currently there are no individual sub-stations installed. Until summer Replacement of the heating mains from the new site to the city centre Installation of a containerized natural gas heating stations on the predicted site of the biomass heating station Until summer Installation of the biomass heating station as described in the chapters below.
Project site and storage area Figure Location of the new heating station The project site is situated in the northern part of Mali Zvornik between the football ground, the national road and the river Drina. Operating regime The operating regime is characterized by two main issues: Temperature regime of 90C for the supply flow and 70C for the return flow System shut-down during the night The temperature regime describes the temperatures of supply flow and return flow.
Following operating regime is recommended: 80C to max. The operating mode is heat demand driven. Backup system Mali Zvornik is connected to the natural gas grid. On Site Biomass Logistic Wood chips will be delivered by semitrailers on site.
Frequency of transport traffic 1 semitrailer per day Storage capacity m Storage area m Table 8: Key data for the on-site biomass logistic 4. Environmental and social concerns The calculation of CO2 savings considers the replacement of mazut or gas for heating by biomass.
Complementary investments Complementary investments are necessary if urgent from a technical point of view or highly profitable. This option would require 1 Operational costs of wood chips procurement include: costs of woody biomass mobilization costs of woody biomass transport to the point of processing costs related to woody biomass storing, chipping and manipulation; costs of wood chips transport to incineration point; Operational unit costs are presented in the table below.
Confirmed woody biomass delivery schedule , on 15 day or weekly basis when delivery starts Table Key tendering conditions for wood chips supply Procedures required by Law on public procurement in tendering process need to be fulfilled by any public sector tender organizer. Water content also can affect combustion 6 Law on Public Procurement. Figure Fossil fuel price developments Current international market analysis projects a growth pattern bringing oil prices to the longer term trend over the medium term7.
Economic performance All technical variants have also been subjected to economic analysis considering benefits from import substitution of fossil fuels valued at the cost of biomass avoided emissions. For a base case all analyses have been carried out in real terms. EUR Existing 9. Changes in real terms percentage additions costs and prices Investment costs - Percentages added to investment cost budget Incremental operating costs - Percentages added to all non-energy operating costs Initial price of biomass wood Initial level of prices of fossil fuels Plant availability Results of the sensitivity analyses are shown in the subsequent graph.
Projection of financial statements For the projection of the financial development of the Toplana the present situation has been considered as well as the technical changes currently planned. Projection of implementation of the HOB project in the Toplana For a forecast of the development of toplana given the implementation of the project, assumptions have been entered into the projections of financial statements of the company.
Specifically the following parameters have been considered: Investment cost estimates and scheduling Energy cost changes considering avoided cost for heat production and Incremental operating cost items pertaining specifically to the operation of the project regarding - Consumables - Ash disposal - Staff cost - Administrative cost eg insurance of new equipment The following tables present the effect of the project in the projected financial statements of the company.
The company employs 69 workers who were assigned to the five organizational units such as: Legal affairs, Economic, commercial affairs Water supply and waste collection. PTIC London. Asia Clean Energy Forum. Kristen Chang. Anonymous jqevOeP7. Walid Fattah. Jhun Michael Locus. Anonymous icnhaNsF. Lloyd Wills. Fitri Az Zahra. Brijendra Singh. Riki Arfando. Nayab Arshad. More From Srbislav Genic. Srbislav Genic. Manoj Tiwari.
Marko Nikolic. Mirjana Tonic. Supply water temperature regulation problems in district heating network with both direct and indirect connection. Popular in District Heating. Jeimy Rafael Zacarias Rodriguez. Ahmed Labib. Anonymous O5F8rZYubo. Tony Lewis. Narayan Marndi. The fastest flight normally takes 5h 35m.
Typically nine flights run weekly, although weekend and holiday schedules can vary so check in advance. Explore all travel options. More details. Get driving directions. The best way to get from Bucharest to Mali Zvornik without a car is to bus which takes 18h 13m and costs. The best way to get from Bucharest to Mali Zvornik is to bus which takes 18h 13m and costs.
Mode details. The quickest flight takes 6h 5m and has one stopover. Search flights. Mali Zvornik is 1h behind Bucharest. It is currently in Bucharest and in Mali Zvornik. Yes, the driving distance between Bucharest to Mali Zvornik is km. It takes approximately 10h 30m to drive from Bucharest to Mali Zvornik. Rome2rio's Travel Guide series provide vital information for the global traveller.
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