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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
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