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US coal stores fall 1.8 pct for week - Genscape
12:00 EST Tuesday, February 09, 2010
HOUSTON, Feb 9 (Reuters) - Coal stockpiles at U.S. power plants fell 1.8 percent this week but remained 10.9 percent greater than the same week last year, Genscape said Tuesday.
U.S. generators, which rely on coal to fuel about half of U.S. electricity production, had 60 days worth of coal on hand, 1 day less than last week, the power industry data provider said.
Companies averaged 6 more days of coal stockpiled than the same week of 2009, one less day's year-over-year cushion than last week, Genscape said.
Genscape estimated power generators as of Monday had 156.8 million tons of coal, down from 159.7 million tons stockpiled on Feb. 2 but up from 141.3 million tons the same week last year.
Cold weather and shipments interrupted by snow in the East weighed on inventories, weather data and rail company alerts indicate.
The numbers reflect adjustments to the Genscape model and restatement of inventories for early 2009 due to distortions caused by unprecedented substitution of gas for coal in that period.
Inventories typically grow in spring and fall when demand for heating and cooling drops. Stockpiles usually shrink during summer and winter when demand rises for climate control in homes, stores and factories.
The past 12 months have been different due to the economic slowdown followed by signs of rebound. Winter also has been more severe this year.
Mathematical rounding sometimes affects the results, overstating some changes and understating others, Genscape has said. (Reporting by Bruce Nichols; Editing by John Picinich)
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