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Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
.jpg) We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired generation declined each year between 2014 and 2020, it rose 16% in 2021 as a result of increased electricity demand and higher natural gas prices following the pandemic. Despite natural gas prices remaining high, coal-fired generation has continued its previous trend of decline this year as a result of constrained coal supply.
Coal and natural gas are two of the most prevalent sources of power generation in the United States. Natural gas-fired power plants that use modern combined-cycle technology can compete effectively with coal-fired generation because they operate with 30% to 35% greater efficiency. This difference affects relative fuel costs between coal and natural gas and the substitution between the two fuels.
Between 2020 and 2021, the delivered cost of natural gas for power generators nearly doubled while the delivered cost of coal grew by only 3%. The increase in natural gas prices caused the share of total natural gas-fired generation to fall to 37% in 2021 from 39% in 2020. In contrast, coal-fired generation increased in 2021 for the first time since 2014 and averaged 23% of U.S. generation, up from 20% in 2020.
The cost of delivering fuel to coal-fired and natural gas-fired generators depends on a wide variety of factors. Wholesale power prices are generally set by the price of natural gas, and natural gas prices have been volatile throughout most of 2022. Compared with coal-fired generators, costs for natural gas-fired generators are more dynamic. Natural gas is bought mostly in the daily, monthly, and seasonal markets to align fuel needs with power sales, which can be highly uncertain. Costs for coal-fired generators are more static because delivered coal prices are mostly based on long-term contracts and remain relatively steady for longer periods. So far this year, as reported to EIA, the delivered price of natural gas has increased more in percentage terms than the delivered price of coal, but natural gas prices for generators may decrease substantially in the fourth quarter.
Despite higher natural gas prices in 2022, we expect natural gas-fired generation will increase slightly this year, and its share of annual U.S. generation will increase from 37% to 38%. The electric power sector is not moving away from natural gas as we expected previously because coal-fired power plants, which have historically acted as a substitute for natural gas generation, have not been receiving enough coal to meet demand. We expect coal production to increase by less than 2% during 2022, and we expect much of that gain to be exported. We expect that the share of generation provided by coal will return to 20% in 2022, down from 23% last year.
Most coal is delivered to power plants by railroads in the United States, which have encountered a number of disruptions this year. Although U.S. coal inventories have been declining in recent years as coal-fired generators have retired, the limitations on coal deliveries have further constrained generators’ ability to replenish stocks and increase generation. During the first seven months of 2022, coal inventories at power plants averaged 23% lower than in 2021.
Source: EIA
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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Australian Coal Association
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
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