BAKU, Azerbaijan, February 12. Exports, as a percentage of the total disposition of US coal, are forecasted to rise to 20 percent by 2025, compared to 14 percent in 2022 and 19 percent in 2023, Trend reports.
According to the US Energy Information Administration (EIA), in January 2024, US coal consumption in the electric power sector experienced an almost 50 percent surge compared to December 2023, prompted by widespread cold temperatures across the country in the middle of the month.
Despite this notable increase, the agency's annual forecast indicates a 7-percent decline in coal consumption by the power sector in 2024, followed by a further 6-percent decrease in 2025. This downward trend is attributed to introducing new solar and wind generating capacity and the scheduled retirement of 11 gigawatts of coal-fired plant generating capacity.
While coal consumption diminishes throughout the forecast, the projected 6-percent decline in 2025 is less than the previously expected 8-percent decline in last month’s outlook. This slower decline aligns with the anticipation of slightly higher electricity generation in 2025 and a modest reduction in renewable capacity additions compared to the previous month's forecast, the agency explains.
Anticipating a 19-percent reduction in coal production in 2024 due to declining domestic consumption and inventory decreases, the forecast indicates an additional 3-percent fall in coal production in 2025.
Despite an expected 7-percent decrease in coal exports to 95 million short tons (MMst) in 2024, and a subsequent stabilization in 2025, the share of foreign consumption of US coal is projected to increase in 2025.