image credit: Hitachi Energy Velocity Suite
- Nov 1, 2024 9:24 pm GMT
Natural gas and coal account for about 60% of all electricity produced in the United States. In 2023, natural gas generated 43.2%, while coal contributed 16.1% – that’s roughly 1.8 and 0.7 terawatt hours (TWh) respectively. Gas and coal power, as a percentage of total electricity output, have declined slightly in recent years. Ten years ago, the two dispatchable fuels accounted for about 66% of total output. When gas prices spike, more coal is consumed. The chart, generated by Hitachi Energy’s Velocity Suite research team, highlights this trend. The data compares average fuel cost to electricity production by fuel for all gas and coal power plants. One of the key drivers behind the stability in coal pricing and availability are plant stockpiles that as of August totaled 121.9 million tons – that’s slightly higher than the same time last year. Having coal on the ground when weather shifts is an important ‘battery-like’ deterrent to balance energy supply when gas prices rise.
Kent Knutson
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