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