According to Genscape's Generation Fuel Monitor Report, coal clawed back market share in March with rising gas prices driving coal-fired power generation up 21 percent.
While March electricity demand increased 2% over March last year, natural gas fired generation plummeted 11% below March 2012 levels. Renewable energy generation also decreased 14% in March of 2013 versus last March. Coal fired generation captured nearly everything lost by renewables and natural gas, surging 21% higher in March of 2013 compared to March 2012.
In addition to increased cost competitiveness, coal’s surge has also been helped by stronger year-over-year power demand. March 2013 stood in stark contrast to March 2012 as colder than average temperatures developed over the much of the Eastern US, extending the winter season. National power demand was up 2% compared to a year ago. Warmer than average temperatures were generally limited to the Western US, which saw warming conditions compared to the previous month. The strongest cold of the month was concentrated across the coal-centric Upper Midwest where winter-like conditions continued well into March.
Read all the details in our press release, Coal Claws Back Market Share in March According to Genscape’s Generation Fuel Monitor Service. You can also sign up for a free trial of the Generation Fuel Monitor Service to get the latest trends in fuel switching in the power generation market.