Coal Industry News

Coal is one of the world's most important and largest sources of energy, fuelling almost 40% of electricity worldwide. In many countries this figure is much higher: Poland relies on coal for over 94% of its electricity; South Africa for 92%; China for 77%; and Australia for 76%. Coal is abundant but finite. Generating electricity using coal is currently relatively inexpensive, but the cost is affected by world coal prices, which may increase in the future, as a result of increasing global demand and as resources deplete.

Coal has been the world's fastest growing energy source in recent years – faster than gas, oil, nuclear, hydro and renewables. Coal plays a vital role in power generation and this role is set to continue and remain at similar levels over the next 30 years.

China's use of dirty coal has dropped 40 percent from 2012-2017, Wood Mackenzie said. That's due to government efforts to clean up air pollution. Factories using inefficient boilers will likely switch to bigger, cleaner ones, rather than using more expensive gas.

Coal generation in Europe is being phased out and will continue to do so due to competition from cleaner energy sources, such as natural gas and renewables, as well as governments efforts to cut emissions, according to a new study by The Economist Intelligence Unit (EIU).

Denmark’s Dong Energy is preparing to phase out European coal power plants by 2023 as it moves ahead with a multi-billion dollar renewables investment plan, including the development of the world’s largest offshore wind farm.

Almost three years ago, China declared their intentions to wage a war against pollution – a move in direct response to the dire state of the country’s air quality and worldwide efforts to address climate change.

Canada and France both recently announced they plan to stop using coal, but Finland may beat them both to become the first country in the world to ban coal. The Ministry of Employment and the Economy released a statement announcing the country aims to stop using coal during the 2020s.

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