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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, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
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