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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, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
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