Losses of Russian coal companies reach 4 bln USD in 2025 YTD
December 2, 2025
US coal-fired powergen collapsed by a hefty 30% since the beginning of the year, being squeezed between falling electricity consumption (-5%), rapidly expanding renewables (wind up by 15%) and a practically unbeatable gas.
Gas-fired power plants increased their output by ~8%, supported by a Henry Hub averaging at $1.8/mmbtu -and reaching a 25-year low in June. this allowed for a coal-to-gas switching close 60 TWh and translating into ~30 MT carbon emission savings.
In total, US power sector-related emissions declined by ~130 MT (roughy equating to the annual emissions of Belgium).
What is your view? Will the demise of coal continue in the US? Or could it still make a comeback once gas prices start to recover? Could we see a switch-back?
Source: Greg Molnar
Connect with Greg on LinkedIn
