Detailed presentation covering European gas, coal and power markets. It covers key recent price drivers, gas supply, fuel switching, as well as a preview for summer 2024 & what to look out for in winter 2024/25.
New China electricity market modelling shows coal use to peak pre-2030, then plateau and decline as massive renewables surge further accelerates, with profound implications for global transition & Australia Source: Climate Energy Finance
In 2023, world coal production grew by around 4% to a new record high of over 8 billion tonnes. Estimates differ on the precise number, but it is clear that predictions of “peak coal” have been repeatedly wrong. China alone now has more new coal-fired power plants under construction (140 GW) than the total capacity of all coal- and lignite-fired power plants operating today across the whole of the EU.
The thermal coal market exhibited a dichotomy, with South African, USA and Russian coal prices witnessing declines, while Australian and Indonesian coal prices saw increases over the week. Supply-side dynamics remained stable, with indications of paper trade activities emerging from the Australian market. On the demand side, China remained silent due to the Labour Day holiday, while India ramped up its demand for thermal coal amidst the ongoing summer season.
The US, aiming at reducing Russia’s revenues, imposed sanctions against Sibanthracite, one of the largest metallurgical coal producers in Russia....
Over the past week, thermal coal indices on the European market kept moving downward below the 105 USD/t mark, following...
Profits of Russian coal companies (adjusted for losses) in January-February 2024 collapsed 5.3-fold from 1.2 bln USD to 0.2 bln...
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