Moody’s Investors Service said Friday it retained a negative outlook on US thermal coal markets in 2020 based on stiffer competition in the generation stack from natural gas and renewables, in addition to low export expectations given the US’ role as a swing producer. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Economic, environmental and social factors weigh heavily on the thermal coal market, leading Moody’s to expect a substantial volume reduction in coal demand over the next decade as utilities switch to gas and renewables, “which still benefit from government subsidies,” the report said. Moody’s estimates US thermal coal demand could fall to 11% of the total power mix by 2030, compared with the mid-20% range it currently takes as gas and renewables take a larger share. Moody’s […]