OTCPK:NGMBF - Post by User
Post by
drummerboy1on Sep 24, 2009 4:41am
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Post# 16334054
US coal supply up.
US coal supply up.Thursday, 24 Sep 2009
Reuters quoted Genscape as saying that coal supplies at US power plants rose 0.8% this week from last week and were 26.8% greater than the same week of 2008.
The power industry
data provider said that generators had 179.6 million tonnes of coal on hand compared with 178 million tonnes last Tuesday and 141.6 million tonnes the same week in 2008.
Genscape said that US generators as of Tuesday had an average of 68 days' supply of coal assuming typical burn rates. That is one more day than last week's estimated coal capacity.
The data showed that as of Tuesday, power plants had 14 more days' supply than the same week in 2008. That is equal to last week's cushion over 2008 stockpiles.
Genscape said that "Burn is now firmly set on its sharp downward trajectory as power demand fades until the onset of much colder weather." It said that "Competition from gas has strengthened as power demand dropped because utilities are now much more inclined to shut down large coal-fired units and rely on cheap gas."
(Sourced from Reuters)
https://steelguru.com/news/index/2009/09/24/MTEzMzE2/US_coal_supply_up_0.8pct_-_Genscape.html