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