Coal Report — Dec. 13, 2022

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Top news

Path to net-zero: EU utilities keep focus on climate goals as coal rebounds

Europe's major power and gas utilities see renewables and decarbonization as a way out of the dueling energy and climate crises. But Russia's invasion of Ukraine has forced a reevaluation of the role of coal and natural gas across the continent.

US coal prices stall on variable November weather

U.S. export coal benchmarks turned in a quiet November as global natural gas prices moved lower. However, colder winter weather that began in the second half of November could resume upward price pressure.

US EIA deepens cuts to 2023 coal production predictions

The U.S. Energy Information Administration further slashed its forecasts for 2023 U.S. coal production in its December "Short-Term Energy Outlook" report released Dec. 6. The agency had already lowered production expectations in its November energy outlook report.

Glencore shelves Valeria coal project in Australia due to 'global uncertainty'

Glencore PLC shelved the Valeria coal project in Australia's Queensland state, citing "increased global uncertainty" and its commitment to ramp down its coal business.

Production and Rails

U.S. coal production rose 1.3% year over year to 12.0 million tons for the week ended Dec. 3, according to the U.S. Energy Information Administration. U.S. coal rail traffic totaled 69,107 carloads during the same week, increasing 0.7% year over year, data from the Association of American Railroads showed.

Generation

* Starwood to convert NJ coal plant site to battery storage facility

Markets

* G-7 offers $15B package to help Vietnam reduce coal reliance – Reuters

Policy

* Manchin energy permitting reforms excluded from US defense bill

* Biden administration moves to phase out fossil fuel use in federal buildings

* Colombia to form national mining company as part of sector reform – Reuters

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