URA - Nukes down coal up and the risk US natural gas prices double again

Electricite de France (OTCPK:ECIFF) cut the company's nuclear power production guidance for the fourth time this year, reducing 2022 targets from 305TWh (midpoint) to 290TWh (midpoint). In Early January, the company expected to generate 345TWh of power. With Thursday's update, 2022 guidance has been reduced by ~16%. Given that France generates more than 60% of its power from the carbon-free fuel source (URA), reduced nuclear output will result in elevated demand for natural gas and coal. With Europe snapping up LNG cargoes to offset reduced nuclear output, while also attempting to restock inventories before winter, Asian utilities have relied more heavily on coal. The predictable outcome is that seaborne thermal coal prices have rallied. Argus reported the highest-ever price for a cargo of thermal coal traded hands overnight at $442.50 per ton. As seaborne coal prices have increased, exports from US companies like Alliance (NASDAQ:ARLP), CONSOL (NYSE:CEIX) and Peabody (NYSE:BTU) have increased as

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Nukes down, coal up and the risk US natural gas prices double again