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Report: Power plants set to retire by 2032 consumed 10% of U.S. coal in H1

  • Of the 330.6M tons of coal produced from eight U.S. coal regions in H1 2018, at least 33.6M tons, or 10.2%, was delivered to U.S. power plants that are scheduled to retire by 2032, according to an S&P Global Market Intelligence analysis, as declining domestic demand continues to trim the size of the U.S. coal market.
  • The Powder River Basin is the most exposed to coal plants set to retire, as at least 17.8M tons of coal, or 11.3% of the basin's total production in H1 2018, were delivered to plants with announced retirement dates; on the flip side, the Illinois Basin and Northern Appalachia are relatively insulated from scheduled retirements, with only a respective 5.5% and 3.5% of total H1 production going to plants with scheduled retirements.
  • Westmoreland Coal (WLB, WMLP-OLD) is particularly exposed to upcoming retirements: Of the 7.4M tons of coal it produced in H1, the equivalent of 92% was delivered to power plants with plans to retire by 2032.
  • Other large coal producers that delivered more than 1M tons to coal in H1 to plants with announced plans to retire by 2032 include Cloud Peak Energy (NYSE:CLD), Arch Coal (NYSE:ARCH), Peabody Energy (NYSE:BTU) and Alliance Resource Partners (NASDAQ:ARLP), with deliveries equivalent to 12.6%, 11.9%, 8.3% and 4.7%, respectively, in the period.
  • ETF: KOL

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WLB--
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