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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Kaltim Prima Coal - Indonesia
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- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
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- Wood Mackenzie - Singapore
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- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
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- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
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- Posco Energy - South Korea
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- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Semirara Mining and Power Corporation, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Siam City Cement PLC, Thailand
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- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Independent Power Producers Association of India
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- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Minerals Council of Australia
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- GVK Power & Infra Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
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- Indonesian Coal Mining Association
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- Samtan Co., Ltd - South Korea
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- Intertek Mineral Services - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Economic Council, Georgia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
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- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
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- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
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- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
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- Ambuja Cements Ltd - India
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- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
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- Bulk Trading Sa - Switzerland
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- Electricity Generating Authority of Thailand
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- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
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- Eastern Energy - Thailand
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- Trasteel International SA, Italy
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- McConnell Dowell - Australia
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