Switched On Burning Issue: Peak Coal Close But Demand Lingers
Nov 20, 2024
In this engaging discussion, Fauziah Marzuki, Global Head of Gas Markets at BloombergNEF, and Yumi Kim, a Power Markets Associate, dive into the complex world of coal and gas dynamics. They reveal how weather patterns, particularly the La Niña cycle, could extend coal's lifespan despite peak demand looming. With China dominating coal consumption, they explore contrasts in developed economies' push for cleaner energy. The conversation highlights the challenges of transitioning away from coal while meeting global energy needs.
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Coal's Persistence
- Coal remains a significant part of the energy system, despite the narrative around its decline.
- 2024 may see a resurgence in coal generation, increasing emissions.
Coal Types
- Thermal coal, also known as steam coal, fuels electricity generation.
- Metallurgical coal, or coking coal, is essential for steelmaking in blast furnaces.
Coal Demand in 2024
- Coal demand is stagnating rather than rapidly declining, driven by Asian markets.
- China's coal consumption, influenced by weather and renewable energy growth, is a key factor.