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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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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
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