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