Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organizations forecast and supporting the mining and trading giant’s case for continued investment in coal. …
News Tag: Reuters
PJM power auction results yield sharply higher prices
An annual power market auction by the largest U.S. electrical grid operator resulted in prices more than 800% higher than last year as supply dwindled and demand increased, the operator said on Tuesday. …
In China’s coal country, full steam ahead with new power plants despite climate pledges
China has decommissioned 70.45 gigawatts (GW) of coal-fired plants in the last decade, and is building far more renewable energy, opens new tab capacity than any other country. Analysts say coal use may peak as soon as this year. But a sudden flurry of approvals of new coal-fired plants in recent years raises doubts about …
Global coal exports and power generation hit new highs in 2023
Worldwide electricity generation from coal hit record highs in 2023, while thermal coal exports surpassed 1 billion metric tons for the first time as coal’s use in power systems continues to grow despite widespread efforts to cut back on fossil fuels. …
Fossil fuels still dominate global power systems
Over 60% of global electricity generated so far in 2023 was produced by fossil fuels, despite the ongoing aggressive roll-out of renewable energy sources in every major economy. …