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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, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
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- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
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