Global Coal Markets

IEEFA Research

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 →
IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

Foundation-Based Approach to Closure and Clean-Up; New Czech Owners of Vattenfall Assets in Lausitz Can Afford to Foot the Bill; a Timeline That Helps Local Communities Prepare for Transition

The recent “sale” by the Swedish state-owned utility Vattenfall of its German lignite assets throws a harsh light on a dark paradox: the continued use of the world’s most carbon-intensive fuel by a country with some of the most ambitious targets to tackle climate change. The deal transfers a cluster of lignite mines and their […]

September 22, 2016 Read More →

More News and Commentary

Indonesia’s Coal-Fired Electricity Generation Glut

Jakarta Post: State electricity firm PLN has said its electricity sales have only grown 3.62 percent annually from January to November, raising further concerns over excess capacity that could choke the company with multi-billion US dollar costs. Through its electricity procurement business plan (RUPTL) for the 2017-2026 period, PLN has envisioned the development of new […]

December 22, 2017 Read More →

BHP, Biggest Miner, Is Quitting Global Coal Lobby

New York Times: One of the world’s largest coal companies, acknowledging the growing momentum toward addressing climate change, said it planned to pull out of a major industry group over its environmental stances. B.H.P. Billiton, the British-Australian mining company, said in a report Tuesday that it planned to withdraw from the World Coal Association, an […]

December 19, 2017 Read More →

Commentary: ‘Bearish Risks Dominate’ Across Global Coal Industry

Reuters: Moribund global demand growth and volatile pricing are what coal producers face in the next five years, with not even some bright spots in Asia able to outweigh a bleak outlook for Europe and the United States, and lower consumption in top user China. That’s the central message of the International Energy Agency’s Coal […]

December 19, 2017 Read More →

IEEFA Australia: More Wheels Fall Off the Adani Mega-Mine Train

Investors and Government Officials Distance Themselves From High-Risk Project

The Adani Group has bounced back time and again with its troubled Carmichael mine proposal, but a run of freshly negative news now puts the project in real doubt. Today the Downer Group, an Australian engineering and infrastructure firm, announced it had relinquished an A$2 billion non-binding letter of award on the project it issued […]

December 18, 2017 Read More →

IEA: ‘Coal’s Decade of Stagnation’

International Energy Agency: Global coal demand dropped for a second year in a row in 2016, approaching the previous record for two-year declines set in the early 1990s. Global demand for coal fell by 1.9% in 2016 to 5 357 Mtce, as lower gas prices, a surge in renewables and energy efficiency improvements put a […]

December 18, 2017 Read More →

Adani Cancels $1.5 Billion Contract on Australian Mine Project

Financial Times: Adani Group has cancelled a A$2bn (US$1.5bn) contract with a mining services company for work on its proposed Carmichael coal mine in Australia due to its failure to raise funds for the controversial project. The cancellation of the contract with Downer, an Australian company, on Monday is the latest challenge to hit the […]

December 18, 2017 Read More →

On the Blogs: ‘The Last Days of Coal?’

Alibra Shipping: At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030. Britain, Canada, Denmark, Finland, Italy, France, the Netherlands, Portugal, Belgium, Switzerland, New Zealand, Ethiopia, Mexico and the Marshall Islands have joined the Powering Past Coal Alliance. The alliance aims to have 50 members by […]

November 29, 2017 Read More →
IEEFA India: Peak Coal Demand in 10 Years

IEEFA India: Peak Coal Demand in 10 Years

Report: The International Energy Agency (IEA) Is Out of Touch; Latest Developments in Chile and Mexico Portend More

Nov. 21, 2017 (IEEFA) — New research by the Institute for Energy Economics and Financial Analysis sees India within a decade of peak thermal coal demand. In a report published today—“India’s Electricity Sector Transformation: Momentum Is Building; Peak Coal in Sight”—the institute projects a significant increase in renewable energy generation across India, a trend that will […]

November 21, 2017 Read More →

Vietnam, Over-Reliant on Imported Coal, Is Being Hammered by High Prices

VietnamBreakingNews.com: Steep increases in global coal prices are forcing Vietnam’s coal-fired power plants deeper and deeper into the red as they struggle to minimize losses caused by cost overruns worth billions of U.S. dollars. Coal prices have steadily risen since early 2016, adding an addition US$1.27 billion in costs for importing coal to Vietnam, according […]

November 17, 2017 Read More →

Study: South Africa’s Eskom Overexposed to Coal

Business Day (South Africa): Eskom should curtail the construction of Kusile and retire several of its old coal-fired power stations early to save itself billions and shield consumers from excessive energy costs, a new study suggests. The study, by consultancy Meridian Economics, also says that if SA is to pursue a least-cost path for energy […]

November 16, 2017 Read More →