New Market Research Report: United States Power Report Q3 2014
New Energy research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Wed Jul 16 2014] Long-awaited Environmental Protection Agency (EPA) regulations that aim to cut carbon emissions from existing coal-fired power plants will accelerate the switch from gas to coal in the US electricity generation mix. Although Republicans will attempt to curtail the EPA's authority, we believe that the regulations will hasten the terminal decline of the US coal industry, but will bolster the outlook for gas-fired and renewable energy developers.
Environmental Protection Agency (EPA) regulations governing emission from existing coal-fired power plants will serve to accelerate the terminal decline of coal-fired generation in the power sector and - by extension - the coal mining sector. We emphasise that tepid electricity demand growth and a surge in cheap gas-fired capacity and increasingly strong environmental rhetoric from the White House have already put coal-fired electricity generators and coal miners under financial pressure. As such, the long-term outlook for coal-fired generation in the US is austere. We already expected coal-fired generation to decrease as capacity is taken offline - rather than upgraded - so as to comply with Mercury and Air Toxics Standards (MATs) in 2015/2016. The Dow Jones coal index hardly moved following the EPA announcement on June 2 - indicating that much of the negative sentiment in the coal industry is already priced in.
While there has been a rebound in coal-fired generation as Henry Hub gas prices climbed higher due to extremely cold weather in early 2014, we maintain this will be short-lived. Although we have highlighted that the shape of the US energy mix has been contingent on coal-gas pricing dynamics over 2013 and 2014 (largely due to huge draw downs of gas from storage as the US was gripped by sub-zero temperatures), the EPA regulations will effectively hasten the phase-out of coal-fired capacity even as, in line with our forecasts, Henry Hub prices begin to rise more steadily. We highlight that those states...
The United States Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.
The United States Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.
Key Benefits
* Use BMI's independent industry forecasts for United States to test other views - a key input for successful budgeting and strategic planning in the power market.
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