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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
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
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- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
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- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
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- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
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- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
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- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
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- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
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- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
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- IHS Mccloskey Coal Group - USA
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- GN Power Mariveles Coal Plant, Philippines
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- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
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- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
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- SMC Global Power, Philippines
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- Global Business Power Corporation, Philippines
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