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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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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
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- Bhushan Steel Limited - India
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- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
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- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
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- Ind-Barath Power Infra Limited - India
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- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
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- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
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- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
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- SMC Global Power, Philippines
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- Goldman Sachs - Singapore
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- IEA Clean Coal Centre - UK
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- Indian Energy Exchange, India
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- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
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- Xindia Steels Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
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- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
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- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
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- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
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- International Coal Ventures Pvt Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
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- McConnell Dowell - Australia
- Romanian Commodities Exchange
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- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
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- Deloitte Consulting - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
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- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
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- Bulk Trading Sa - Switzerland
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- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
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- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
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- Star Paper Mills Limited - India
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- Australian Coal Association
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