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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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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
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