January 19, 2016 Read More →

Australia ‘Hit Hard’ by China Decline

Joshua S. Hill for CleanTechnica.com:

China has reported its electricity demand growth slowed to only 0.5% in 2015, coal consumption dropped 5%, and coal imports dropped 35%.

China is moving to protect its own domestic coal production by cutting overseas imports which, in conjunction with a collapse in India’s coal imports, has left “the seaborne thermal coal industry … entirely beleaguered,” according to Tim Buckley, from the Institute for Energy Economics and Financial Analysis (IEEFA).

Growth in China’s electricity demand grew by only 0.5% year-on-year in 2015, reaching 5,550 TWh, the slowest rate of growth since 1998. This declining growth rate, in conjunction with an increase in non-thermal electricity generation technologies — such as nuclear, hydro, wind, and solar — resulted in coal-fired power generation declining by an estimated 4%, and coal consumption by 5%, which represents an acceleration of the existing 2.9% decline seen in coal consumption in 2014.

China Electricity Demand Slows, Coal Consumption Drops, Hits Australia Hard

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