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Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
 This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so far, and the current outlook predicts low levels for the rest of the year. To put that into perspective, coal’s power market share had never been less than 20% in any month before 2020, according to the U.S. Energy Information Administration (EIA).
In July 2023, for example, coal hit its high point for the year so far, providing 19.1% of the country’s power; in August its market share was 19.0%. That performance stands in stark contrast to 2021, when coal’s market share in both July and August was more than 25%—roughly 6 percentage points higher. The low point this spring occurred in April and May, between the winter heating and summer cooling seasons, when coal’s market share slumped to just 13.8%—the first time it has ever fallen below 15%.
Despite hotter summer temperatures and increased power demand to run air conditioning in some parts of the country this summer, the use of coal has fallen. This is a result of lower prices for gas—coal’s primary fossil-fuel competitor—and a surge in utility-scale solar generation, which was up 20% in July from July 2022, and up 23% in August from a year ago.
The EIA’s current outlook suggests even more deterioration for coal power in the coming months. The energy agency not only sees coal’s November market share returning to the record-low market share in the spring, but also dropping even more in 2024, to as low as 10 to 13% in both the spring and fall.
The decision by plant owners to scale back their use of coal can be seen in at least two measures. First, power generation at coal plants has fallen every single month in 2023 compared to the same months in 2022, both at those owned by utilities and those owned by independent power producers (IPPs)—and by a lot. Through August, utility coal generation has dropped an average of 19.7%. At IPP coal plants, which are more sensitive to competitive pressures, generation has fallen even more—declining an average of 29.7%, a sign that the economics of selling coal-fired power have deteriorated significantly this year.
At the same time, coal stockpiles have surged, to almost 130 million tons in June, and remain high. That’s enough to run coal plants for 113 days, or almost four months, based on the average amount of coal used over the previous year. This measure, called “days of burn,” is more useful than simply looking at the size of the coal piles, since there are fewer coal plants than in the past, and the ones that are still operating are running less. In fact, the amount of coal used each day in the U.S. has fallen from about 2.8 million tons a day in 2008 to roughly 1.1 million tons a day this year—a 62% drop.
It can take a long time to bring such large stockpiles down to levels power producers are more comfortable with—historically around 50 to 60 days’ supply. It took 16 months to lower stockpiles from the May 2020 peak of 120 days of burn, and it took 34 months—almost three years— to lower stockpiles after a May 2016 peak of 105 days of burn. The speed of the drawdown will also be influenced by other factors like warm winter weather, the health of the U.S. economy, and gas prices.
To cut stockpiles, coal-plant owners are likely to turn to a straightforward solution: Buy less coal.
That, of course, would directly affect coal mining in the U.S., and the EIA is already warning that a significant production downturn is coming for the remainder of 2023 and throughout 2024. Overall, coal output could fall to 466 million tons in 2024, a 25 percent decline of 115 million tons from 2023 levels, the EIA says. If that figure holds, it would be the smallest annual U.S. coal production since 1962—but most of the years between 1936 and 1957 also had higher output.
Western producers, which include the nation’s largest mines in the Powder River Basin, could be hardest hit. The EIA is anticipating output in the region to slump 30% next year, or 73 million tons, to just 246 million tons. That would be the region’s lowest production in at least 40 years. Appalachian production doesn’t fare much better. There, the EIA expects production to fall almost 22%, or 29 million tons, to just 132 million tons. For comparison, when coal output in Appalachia peaked in 1990, almost four times as much of the fuel was mined.
After a sharp drop in coal demand in 2020 due to the pandemic, output from U.S. coal producers moderately rebounded and stabilized in 2021. Then, in 2022, coal prices soared after the Russian invasion of Ukraine, which broadly improved the financial health of U.S. coal companies—but provided only a modest improvement in the volume of coal produced, which declined again this year.
That temporary reprieve has ended. Coal companies are now staring at a substantial new downturn driven by an accelerating decline in domestic demand.
Source: IEEFA
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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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- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
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