Statistical Review of World Energy 2022: Coal prices reached record levels

Coal prices reached record levels in 2022, with European prices averaging $294/tonne and the Japan CIF spot price averaging $225/tonne (increases of 145% and 45% over 2021 respectively). Coal consumption continued to increase, rising 0.6% in 2021 to 161 EJ; the highest level of coal consumption since 2014. The growth in demand was largely driven by China (1%) and India (4%). Their combined growth of 1.7 EJ was sufficient to offset declines in other regions by 0.6 EJ. Coal consumption in both North America and Europe declined by 6.8% and 3.1% respectively. In 2022, OECD consumption was around 10% less […]