US Coal-Gas Switching

Thermal Generation Split

US Coal-Gas Switching
Photo by Nikolay Kovalenko / Unsplash
YTD coal generation through September was 530 TWHrs, down 19.5% from last year and down 7% from 2020 during Covid-19 shutdowns

Coal generation bottomed at around 25% of the thermal stack in the spring, bounced back to 30% +/- during peak summer demand and is now lowing share of the thermal stack again as temperatures cool

Trailing 12M coal generation is down -14.3% versus natural gas up 7.7%

Coal + natural gas generation in the U.S. is effectively unchanged year-over-year through the first nine months of 2023

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