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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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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
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