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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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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
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- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
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- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
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