31 °C Singapore, SG
July 24, 2021
Latest News
BlackRock Real Assets to back Korean offshore wind farm project CIP to sell minority stake in Taiwanese offshore wind cluster Nearly 76 Gigawatt-Hours of Battery Cells Produced in U.S.A 2010–2020 Melting tropical glaciers sound an early warning Enhanced cooperation on renewable energy transition between International Renewable Energy Agency and China Decarbonising industry is key to China’s net-zero strategy Carbon Brief’s China weekly digest. Rising seas could cost Asia’s biggest cities US$724 billion by 2030 Electric Vehicle Growth is Accelerating but its Given Rise to a New Social Faux Pas Southeast Asia PR industry launches working group to curb greenwashing Asia Pacific wind and solar spend to hit $1.3trn this decade How the next 5 years can buy us a decade to solve climate change G7 leaders urged to support SAF Uncrewed survey vehicles for offshore wind farm surveys Pathway to global climate catastrophe is clear Mohdi: India’s vision for a biofuels future EGAT to pilot flexibility in Thailand China Briefing, 3 June 2021: New climate ‘leaders group’; ‘Record-breaking’ electricity consumption; ‘Artificial sun’ Wärtsilä commissions first energy storage projects in the Philippines China’s first floating wind turbine ready for installation IEEFA Update: G7 coal finance exit and why it matters for India Accelerating Renewables in Asian Cities: Opportunities for Cleaner Air Iberdrola and Mitsubishi Power partner for renewable technologies Bundestag clears way for more climate protection in transport Analysis: China’s carbon emissions grow at fastest rate for more than a decade Ørsted forms alliance for Japanese offshore wind Hitachi ABB Power Grids selected for Thailand’s largest private microgrid Taiwanese company buys majority stake in ENGIE’s storage and EV arm US ethanol exports rebound on near-record shipments to China The Pacific calls Australia to Fund Our Future – NOT Gas.

EIA: Coal’s share of U.S. electric generation will fall to 21% this year

S&P Global Market Intelligence ($):

Coal production and generation are expected to drop again in 2020 before stabilizing for the near-term, the U.S. Energy Information Administration (EIA) projected in its latest monthly energy forecast.

The EIA expects coal’s share of electricity generation will fall from 24% in 2019 to 21% in 2020 and 2021. Meanwhile, the agency expects U.S. production of coal to stabilize in 2021 as export demand rises and U.S. power sector consumption of coal increases slightly due to a projected rise in natural gas.

The EIA forecasts Henry Hub natural gas spot prices will average $2.11/MMBtu in 2020 before increasing in 2021, to reach an annual average of $2.51/MMBtu.

The drop in coal generation is occurring as natural gas consumption is expected to remain relatively steady. However, electricity generation from renewable energy sources in the U.S. is expected to rise from a 17% share last year to 19% in 2020 and 21% in 2021.

Coal production in 2020 is expected to total 573 million tons in 2020, down 17% from 2019 coal production volumes. The EIA said the decline in production volume is a function of falling utility demand for coal. Electric sector demand for coal in the U.S. is expected to fall by 16%, or 86 million tons, in 2020.

Coal exports from the U.S. are expected to average about 78 million tons this year, about 9% lower than what the EIA forecast in its February short-term energy outlook. The revision is due to lower expected demand as global markets for coal have weakened. EIA expects metallurgical coal exports to fall from 55.1 million tons in 2019 to 47.2 million tons in 2020 before rebounding slightly to 49.5 million tons in 2021.

[Taylor Kuykendall]

More ($): EIA’s latest forecast sees coal dropping to 21% of US power generation in 2020

Source

Leave a Reply

Your email address will not be published. Required fields are marked *