US utility coal stockpiles increased an estimated 700,000 st in the week ended Thursday, as a drop in consumption and increase in production helped boost inventories, Bentek Energy said Friday.
A 2% drop in coal consumption in electricity markets in the West and Southeast, along with Midwest System Independent Operator and Southwest Power Pool, was greater than a 5% increase in the PJM Interconnection market, said Bentek, a unit of Platts.
In addition, coal production was up an estimated 1%, or 113,000 st, for the week, led by gains in Texas and the Uinta basin, said Bentek. Estimated production in Central Appalachia, Northern Appalachia and the Powder River Basin declined during the week, while Illinois Basin production remained flat.
Total US utility coal stockpiles stood at an estimated 107 million st as of Thursday, up roughly 1% from the prior week, but down about 29% from the year-ago week, according to Bentek.
The US Energy Information Administration on Thursday put utility inventories at 125.3 million st at the end of July.
