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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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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
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