Global coal consumption at record levels - China and India drive demand despite falling use in Europe
Global use of coal to generate electricity rose to a record 8.77 billion tons this year. According to a report by the International Energy Agency, almost a third was burned in Chinese power plants.
Due to the energy transition, the use of electricity is increasing in many countries, as it is also used in electric cars, home heating and data centers.
Although coal consumption has fallen sharply in Europe and the United States, this is being offset by increased demand in India and China. In India this year, 6 percent more polluting coal was burned, while in Europe and the US, use fell by 12 and 5 percent, respectively. Global demand for coal is expected to peak by 2027.
China has built more nuclear power plants and is producing more power from wind turbines and solar farms, which are expected to limit growth in coal consumption by 2027. However, renewable energy generation is highly dependent on weather conditions. "As a result, demand in 2027 could be 140 million tons higher or lower than forecast," warns the Energy Agency.
Demand for coal this year was about 9 percent higher than forecast a few years ago. Today, prices are 50% higher than the average between 2017 and 2019. Asia remains the center of international coal trade, with all major importing countries in the region including China, India, Japan and Vietnam. While the biggest exporters are Indonesia and Australia.
According to the Paris Climate Agreement, coal use must be drastically reduced this decade to be climate neutral by 2050 and limit global warming. However, it seems unlikely that this will happen. According to the Agency, coal, the fossil fuel that produces the most carbon emissions, remains a dominant source of energy worldwide.
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