BAKU, Azerbaijan, June 14. US coal consumption by the electric power sector will reach over 380 million short tons (MMst) in 2024 and approximately 360 MMst in 2025, says the US Energy Information Administration (EIA), Trend reports.
The agency adjusted its projections for coal consumption and production in light of increased forecasts for electricity demand and anticipated higher natural gas prices. While this represents a slight increase from previous estimates, it remains below the 387 MMst consumed in 2023.
The rise in US coal consumption is expected to deplete electric power coal stocks to between 110 MMst and 115 MMst by August 2024, followed by a buildup to more than 130 MMst by December 2024 and nearly 140 MMst by December 2025. Concurrently, US coal production is projected to total almost 510 MMst in 2024, with a slight decline to 500 MMst in 2025.
In terms of exports, the EIA anticipates an increase to more than 100 MMst of total coal exports in 2024, marking a 3-percent rise from 2023 levels and exceeding previous forecasts from the May outlook. This trend is expected to continue into 2025, with exports forecasted to grow by another 3 percent.
Furthermore, recent developments at the Port of Baltimore have enhanced export capabilities, with the entire 700-foot-wide and 50-foot-depth channel now accessible for commercial vessels as of June 10.
The EIA has also adjusted its forecast for metallurgical coal exports upwards to 50 MMst in 2024, driven by robust April exports reported by the US Census Bureau.
