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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
 This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover solar, wind, oil & gas, coal, nuclear, and geothermal (so far) and will answer the same four questions for each.
1. How big is the US coal industry, and what is its growth trajectory?
US coal employment peaked in the 1920s and the whole sector (mining, transport, and power plants) currently supports about 174,000 jobs. In 2018, US mines produced about 756 million short tons of coal, the majority of which (544 million short tons) was burned in coal-fired power plants to generate 966 billion kWh of electricity, about 24% of all electricity generated in the US.
However, coal has largely fallen out of favor for electricity production as price declines in natural gas and, to a lesser extent, renewables have made it harder for coal plants to make money in electricity markets. The average US coal plant is now over 40 years old, and there is not a single commercial coal plant under construction in the country. Some scenarios have coal generation remaining flat for the next couple of decades, but most market fundamentals and societal goals indicate further declines.
In the past decade, over 500 coal-fired power units have been retired, or announced their retirement. Further, it is estimated that over 85% of existing coal plants will be uneconomic compared to local renewables by 2025. These dire conditions have many states with regulated electricity markets scrambling to either financially support uneconomic coal plants or provide securitization strategies to allow them to retire early while still making good on their debts. As demand for coal has declined, almost a dozen coal mining companies have filed for bankruptcy in the past 5 years.
On the other hand, US coal exports have been trending upwards as the world economy continues its decade long recovery and demand for energy and goods continues to increase.
Over half of US coal exports are for making steel (metallurgical/coking coal) and the rest for electricity (steam/thermal coal). Major destinations for US coal exports are India (15%), The Netherlands (11%), and Japan (9%), among others. Some countries, largely led by China, are continuing to build coal plants, which could increase demand for US coal exports. Although, some western states have sought to block coal export terminals, forcing some US exports to depart through Canada.
2. Which US states lead in coal?
While Appalachia is home to the vast majority of individual coal mines, the relatively few number of mines in the western Powder River Basin (PRB) produce many more tons of coal annually. Of the 43% of US coal that comes from the PRB, 93% of that (40% of US total) comes from the state of Wyoming. West Virginia produced the second highest amount of US coal, almost 13% of total US production.
Although Texas only produces the poorest quality coal, lignite, it nonetheless consumes more coal than any other state, almost by a factor of two, even though its usage is down almost 20% (2018 vs. 2017). North Dakota consumes the most amount of coal for uses other than power generation.
3. What are the biggest challenges faced by the coal sector today?
By far the biggest realized challenge facing the US coal sector is economic pressure from low cost natural gas, and to a lessor, though growing, extent, renewables. The hydraulic fracturing boom has vastly increased the supply of natural gas, making it stubbornly cheap and the new firm fuel of choice in power generation. A recent study found that low cost natural gas prices was responsible for 85-90% of wholesale electricity price declines in some markets.
Also, the US is generally not building big power plants (of any type) anymore. Coal (and current generation nuclear) plants are generally built as large units to produce cheaper electricity. However, other technologies, such as gas and renewables, can be built in smaller sizes, for cheaper, and thus incur less capital risk, making them easier to finance. The US Department of Energy has made a push for small modular coal plants, but there doesn’t appear to be much traction as of yet.
The biggest existential threat faced by the US coal sector is by far climate change. Of the major fuels used to generate electricity in the US, coal produces the most carbon emissions. But technical and political times are changing. About 45% (and growing) of all electricity (by at least 2050) in the US has been pledged to be carbon-free and one of the easiest ways to start to make good on such promises is to shutter coal plants.
Coal’s future (at least for power production) appears to be burning out. Other technologies, such as gas and renewables, are beating coal on price, flexibility, and finance-ability. Absent significant improvements in carbon capture and sequestration technology, most developed markets, but not all, are likely to continue shuttering their coal fleets over the next couple of decades. However, the world is going to continue to need steel in the short and long-term, and while electric arc furnace metals recycling and new smelting technologies might help reduce the need for metallurgical coal and its associated emissions, the vast majority of steel is still currently made using coal.
Source: Forbes
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
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