>These mountains of coal are not only creating storage problems, but they are also posing financial challenges — piling up to about $6.5 billion in unused inventory, based on an average $47.22 per ton delivery rate, per the analysis.
>“No power producer wants that much money idly sitting around,” the report authors stated. “But it has become much harder to burn that coal without losing money.
Energy companies hire smart people with access to excellent information, but those analyst’s expectations about coal demand were wrong as fuck. The gas boom plays a big part in this, but also wind and solar.
$6.5 billion spread across all the nation’s utilities is not a huge amount of money, but it is significant. They could have earned tens of millions of dollars simply keeping the money in interest bearing accounts.
drtywater on
Can this excess coal be exported to Asian and European coal plants or can those plants use this type of coal? Like oil i’ve heard plants are optimized for certain types of coal
HeKnee on
Is this santa’s present to those naughty utilities?
3 Comments
>These mountains of coal are not only creating storage problems, but they are also posing financial challenges — piling up to about $6.5 billion in unused inventory, based on an average $47.22 per ton delivery rate, per the analysis.
>“No power producer wants that much money idly sitting around,” the report authors stated. “But it has become much harder to burn that coal without losing money.
Energy companies hire smart people with access to excellent information, but those analyst’s expectations about coal demand were wrong as fuck. The gas boom plays a big part in this, but also wind and solar.
$6.5 billion spread across all the nation’s utilities is not a huge amount of money, but it is significant. They could have earned tens of millions of dollars simply keeping the money in interest bearing accounts.
Can this excess coal be exported to Asian and European coal plants or can those plants use this type of coal? Like oil i’ve heard plants are optimized for certain types of coal
Is this santa’s present to those naughty utilities?