Coal price in Europe peaks in 13 years
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The rise in the cost of coal is due to a sharp rise in the price of gas – demand from power plants and utilities has grown.
In 2022, the cost of coal for delivery climbed to its highest since 2008. About it informs Bloomberg on Friday, September 24.
According to trading data on ICE Futures, the average cost of coal for delivery in 2022 will be $ 137 per ton.
According to the agency, the demand for coal from power plants and utilities has grown due to the increase in gas prices. At the same time, coal reserves are quite low, its export from Australia, South Africa and Colombia is difficult, and supplies from the Russian Federation are not enough.
Bloomberg notes that rising gas prices have boosted demand for other, more affordable energy sources.
Recall gas reserves in European UGS facilities are at a minimum in 10 years. On average, they are 72% full as of September 22nd.
Russian Gazprom is blamed for the gas shortage. Thus, Prime Minister Denis Shmygal said today that the gas concern artificially created such a situation for blackmail and the commissioning of Nord Stream 2.
In turn Gazprom calls accusations absurd in the shortage of gas on the European market.
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