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New UserRPT-COLUMN-U.S. coal gets boost from higher gas prices: Kemp
30 Jul 2021
Rising gas prices are encouraging U.S. electricity generators to raise output from coal-fired units slightly this summer, providing a temporary reprieve for the beleaguered coal mining sector.
U.S. coal production, which was already in long-term decline, slumped during the first wave of coronavirus infections and lockdowns, but has been trending upward since the middle of last year as the economy has recovered.
Mine output averaged 11.7 million short tons per week over the five weeks ending on July 17, up from 9.3 million tons at the same point a year ago, though still down from 13.1 million tons in 2019.
Production is around 18% below the pre-pandemic five-year average, but that is an improvement on a deficit of 40% at the end of May last year, according to estimates prepared by the U.S. Energy Information Administration (EIA).
EIA estimates are based on the volume of coal loaded onto railroad cars each week rather than direct measurements of coal cut ("Weekly coal production report", EIA, July 22).
But power producers' coal stocks have been relatively plentiful so the increase in shipments implies generators are boosting orders and preparing to run coal-fired units for more hours in the months ahead.
Source : https://finance.yahoo.com/news