CEIX - Surging electricity use higher natural gas prices give coal new life

After years of decline in many countries, coal's use is picking  up in the U.S., China and Europe as electricity demand rebounds from COVID-19 economic shutdowns, in spite of growing pressure to curb carbon emissions.Higher natural gas prices also have incentivized coal miners to produce and retake market share in the electricity generation market.Coal production in the U.S. is now expected to reach 617M short tons in 2021, the EIA says, nearly 3% higher than the month-ago forecast of 600M tons and a 6% above its outlook two months ago of 582M tons.Last year's coal production totaled just 539M tons, and while an increase from COVID-19 weakness was expected this year, the increase is beating all expectations.Coal supplied 23% of U.S. electricity production this year through mid-June, up from 17% in the year-earlier period, according to a Wood Mackenzie analysis.Credit ratings firm Moody's expects U.S. coal consumption will rise by

For further details see:

Surging electricity use, higher natural gas prices give coal new life