Coal production is forecast to reach an all-time high in 2022, and then after a couple of years, plateau as demand flattens, according to the latest annual market report from the International Energy Agency (IEA), released today.
After falling in 2019 and 2020, global power generation from coal is expected to jump by 9% in 2021 to an all-time high of 10,350 terawatt-hours, according to the IEA’s Coal 2021 report. This surge is a result of 2021’s economic recovery from the pandemic, which has boosted demand for electricity faster than renewables can keep up. Further, natural gas prices are now high, so that’s made coal more cost-competitive.
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