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