UK’s new coal mine sent ‘adverse international signal’, campaigners say
Environmental campaigners are challenging the approval of a coking coal mine in northwest England.
Natural gas is on track to overtake coal as the most popular fuel for electricity generation in the U.S., where nose-diving prices and tougher regulations have pushed a number of producers to seek bankruptcy protection.
According to data released by the U.S. Energy Information Administration (EIA) last week, natural gas is set to provide 33% of generation in 2016, while coal — which once fired half of the country’s power needs — will likely fall to 32%.
2016 would be the first year that coal loses out to natural gas.
That would be the first time that coal loses out to natural gas on an annual basis, although it has happened every month since April 2015.
Before 2008, coal was less expensive to burn than natural gas and so the fossil fuel accounted for half of all U.S. electricity generation between 2000 and that year. But since then, coal use has declined sharply and a growing number of banks —including Morgan Stanley and Wells Fargo — are now pledging to cut financing to the industry.
Renewables have increased their share of the electricity market, too. EIA estimates show non-hydroelectric generation, including wind and solar power, will be responsible for 8% for this year’s domestic electricity supply.
Hydroelectric power will have a 6% share, while nuclear power will remain fairly level year-over-year at 19%.
Comments
patentbs
It’s just money.
With gas prices at or near historic lows for the last few quarters any plant that is dual fuel or multi fuel is running on gas. That is a given. When prices rise – what then? The options of turbo generators are liquid or gaseous fuel and not solid fuel. I would feel more comfortable if our regulators gave a solid number for CO2 per mwh. Right now many are saying outright – no coal. That means there will be no more pilot projects or production plants built for reduced CO2 output. Too bad!