Global Coal Markets

IEEFA Research

IEEFA Report: Indonesia’s State Power Company Continues to Lag Global Shift in Electricity Generation

IEEFA Report: Indonesia’s State Power Company Continues to Lag Global Shift in Electricity Generation

‘Sinking Under the Weight of a Flawed Planning Process That Lacks Crucial Insight Into Clean Energy Trends’

IEEFA — Indonesia’s national power company is perilously out of step with global trends in electricity generation even as it seeks a more than $1 billion infusion from international bond markets, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report — “Perusahaan Listrik Negara (PLN): A Power Company […]

April 19, 2018 Read More →

IEEFA Australia: Adani Is Said to Seek Financing From a Chinese State-Owned Enterprise

'New Geopolitical Questions for an Already Highly Controversial Project'

Nov. 2, 2017 (IEEFA) — A Chinese government-owned enterprise is being courted as a new partner for Adani’s proposed Carmichael coal mine and rail project in northern Queensland, according to a research brief published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The deal being sought with state-owned China Machinery Engineering Corporation […]

November 2, 2017 Read More →
IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

New Emissions Rules Loom Large Across EU; Gas-Fired Generation and Renewables Present Better Investment Opportunities; Major Utilities Are Out of Step With Markets

October 25, 2017 (IEEFA.org) — A research paper published today by the Institute for Energy Economics and Financial Analysis finds that plans by Enel Group’s Spanish-subsidiary Endesa to sink €400 million into upgrading three aging coal-fired plants is a likely loss-making proposition under new European Union emission-control rules. The report—“How European Utilities Can Capitalize on […]

October 26, 2017 Read More →

IEEFA Australia: Escalating Financial Risk in Adani’s Abbot Point Coal Terminal

Begging the Question as to Why the Government Would Lend Heavily to a Tax-Haven Scheme Controlled by a Foreign Billionaire

Oct. 2, 2017 (IEEFA) — New analysis by The Institute for Energy Economics and Financial Analysis (IEEFA) finds that Adani’s Abbot Point Coal Terminal is excessively leveraged, promises negative shareholders equity, and runs the risk of becoming a stranded asset if Adani’s proposed Carmichael mine does not get the A$1 billion Australian taxpayer subsidy it […]

October 2, 2017 Read More →
IEEFA Australia: Hume Coal Proposal Will Be Left Behind as Energy Markets Move On

IEEFA Australia: Hume Coal Proposal Will Be Left Behind as Energy Markets Move On

New Coal Mine Makes Even Less Sense than It Did Last Year; Hume Will Find it Hard to Compete with Higher-Quality Coking Coal

Despite the significant increase in coking coal prices that began in late 2016, the proposed Hume Coal project in the Southern Highlands of New South Wales seems no more likely to proceed now than it did when IEEFA reviewed it ten months ago. Hume Coal, a subsidiary of South Korea’s largest steel maker POSCO, has […]

IEEFA Report: State-Owned Utility NTPC Takes a Lead Role in India’s Electricity Transition

IEEFA Report: State-Owned Utility NTPC Takes a Lead Role in India’s Electricity Transition

Country’s Largest Generation Company—Ranked Third Globally in Coal-Fired Capacity and Seventh in Generation—Emerges as Key Supporter of Government’s Renewable-Energy Initiative

May 25, 2017 (IEEFA.org) — The state-owned Indian utility NTPC is playing a key role in India’s push toward retooling its electricity-generation system, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). The report—“NTPC as a Force in India’s Electricity Transition: Leading the Way Toward a New Energy Economy”—details how […]

IEEFA Update: An Increasingly Cursed Australian Coal Project

IEEFA Update: An Increasingly Cursed Australian Coal Project

Bad Financials, Weak Markets, Policy Headwinds, Social-License Issues, Transparency Questions, Climate Risk: The Many Afflictions Hobbling the Proposed Carmichael Mine

IEEFA has released an update today on Adani’s long-festering coal mine project in northern Queensland that plumbs the depths of the Indian conglomerate’s financials and finds them vastly insufficient for the supposed job at hand. Our report— “Adani: Remote Prospect: Carmichael Status Update 2017”—follows on previous work we’ve done around what would be the biggest new coal […]

IEEFA Europe: Can Coal Power Hang On?

IEEFA Europe: Can Coal Power Hang On?

Investors May Not Be Eager to Absorb More Losses Like Those Seen in Recent Dutch Build-Outs

Investment in new coal-fired power plants appears off the agenda in Western Europe. Witness the astonishing write-down of brand-new assets in the Netherlands, where European utility giants RWE, Uniper, and Engie have drastically reduced their valuations of plants barely a year old (read the report we published this morning, “The Dutch Coal Mistake,” which concludes […]

November 30, 2016 Read More →
IEEFA Update: IEA, Still Behind the Curve, Nonetheless Indicates Rising Stranded-Asset Risk in Fossil-Fuel Holdings

IEEFA Update: IEA, Still Behind the Curve, Nonetheless Indicates Rising Stranded-Asset Risk in Fossil-Fuel Holdings

A Not-So-Distant Future in Which Thermal-Fired Electricity Generation Declines Precipitously

The International Energy Agency, out with its annual energy-markets forecast, “World Energy Outlook 2016,” remains behind the curve but not as far behind as it was. A history of IEA underestimation of technology change has been partially remedied in this new report, but the agency’s solar and wind forecasts can at best be described still […]

November 17, 2016 Read More →
IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

An Acceleration to Renewables, Faster-Than-Expected Shifts Regionally and Nationally, Growing Risk for Investors Who Lag Behind

Three notable takeaways emerge from the rapid transformation of the global energy economy, as we detail in a new paper we published today as the landmark Paris Agreement officially goes into effect. The global transition to renewables is accelerating. Change is happening faster than expected. Those left behind in this transition face growing financial risk. […]

November 5, 2016 Read More →

More News and Commentary

IEEFA Report: Indonesia’s State Power Company Continues to Lag Global Shift in Electricity Generation

IEEFA Report: Indonesia’s State Power Company Continues to Lag Global Shift in Electricity Generation

‘Sinking Under the Weight of a Flawed Planning Process That Lacks Crucial Insight Into Clean Energy Trends’

IEEFA — Indonesia’s national power company is perilously out of step with global trends in electricity generation even as it seeks a more than $1 billion infusion from international bond markets, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report — “Perusahaan Listrik Negara (PLN): A Power Company […]

April 19, 2018 Read More →

Drop in Domestic Coal Use Cuts Into CSX Revenue

S&P Global Market Intelligence ($): Domestic natural gas competition contributed to a year-over-year drop in coal revenue for CSX Corp. in the first quarter, but the company said it will “run the wheels off the railcars” to move as much export coal as possible to meet high overseas demand. CSX shipped 12.3 million tons of coal to […]

April 19, 2018 Read More →

Plug Pulled on Long-Delayed Clean Coal Project In Australia

The Sydney Morning-Herald: The last of a long list of government-backed “clean coal” projects has fallen over, with the Andrews government reluctantly confirming the end of a $90 million program announced amid much fanfare six years ago. After days of pressing by The Age, Treasurer Tim Pallas’ department issued a statement announcing the conclusion of the […]

April 19, 2018 Read More →

China Moves to Slow Coal Imports

Reuters: The price of seaborne thermal coal in Asia may come under pressure as China moves to impose some import restrictions on imports of the polluting fuel. Several ports in southern and eastern China have introduced controls on coal imports, ranging from bans on unloadings to tightening customs clearances. Among ports banning imports is the […]

April 17, 2018 Read More →

‘Coal Will Disappear’ and Wärtsilä Predicts a Big Market in Smaller Plants That Can Integrate Renewables

Financial Times ($): Jaakko Eskola, Wärtsilä chief executive, said the Finnish company’s energy business was “developing extremely well” because its focus was on small, flexible plants which could be better integrated with renewable power than the large gas turbines made by GE and Siemens. Wärtsilä develops power stations which use combustion engines to generate electricity, […]

April 12, 2018 Read More →
IEEFA South Africa: A New Coal Project Meant to Serve Export Markets Is Unlikely to Achieve Lasting Success

IEEFA South Africa: A New Coal Project Meant to Serve Export Markets Is Unlikely to Achieve Lasting Success

Structural Changes in Global Seaborne Thermal Markets Make for Long Odds

A proposal to develop a new, export thermal coal mine in Limpopo province, South Africa, faces too many headwinds to ever achieve long-term success. Resource Generation (ResGen), a company that is publicly listed in Australia and South Africa, plans to mine coal mostly for exports markets from its Boikarabelo project. The company also says it […]

BHP Quits World Coal Association Over Differences on Climate Risk

Reuters: Global miner BHP Billiton said on Thursday it had made a final decision to leave the World Coal Association (WCA) over differences on climate change but would remain a member of the U.S. Chamber of Commerce. BHP has largely quit mining coal for power plants, but is the world’s largest exporter of coal for […]

April 5, 2018 Read More →

Data: Globally, Coal Shutdowns to Exceed New Construction by 2022

S&P Global Market Intelligence ($): Major indicators of coal power capacity growth fell by double digits in 2017 for the second year in a row, according to a new report by environmental advocates — and if those trends continue, yearly retirements will exceed new capacity by 2022. Newly completed coal-fired plants declined 28% year over […]

March 26, 2018 Read More →

IEEFA Update: The Divestment Movement Gains Steam

A Fast-Growing Issue, Especially for the Coal Sector

Fossil fuel divestment took center stage during a good part of IEEFA’s annual conference last week in New York, with experts and government officials weighing in in detail on the burgeoning movement. Among them: Representatives from both the city and the state of New York, which operate some of the biggest pension funds in the […]

March 19, 2018 Read More →

IEEFA Update: A Growing Consensus on Transition

Electricity-Generation Markets Are Changing, and Not to Coal’s Benefit

The speakers changed at IEEFA’s annual conference this year, but the message remained the same: coal can no longer compete economically with either renewables or natural gas. Andrew Blumenfeld, head of market analytics with Doyle Trading Consultants, said this week during the IEEFA 2018 Finance Conference in New York that “even if power generators were […]

March 16, 2018 Read More →