Despite the global effort to decrease carbon emissions, coal-fired power generation in 2021 has increased by nine percent to 10,350 terawatt-hours – a new all-time high, according to the International Energy Agency .” analysis and forecast report attributed the increase in demand for coal to economic recovery from the Covid-19 pandemic and steeply rising natural gas prices.
With re-emergence of world economies from the pandemic, IEA expected overall coal demand worldwide to rise by six percent in 2021. Together with a faster-than-expected economic recovery, extreme weather conditions, such as floods, dampened electricity production which reduced electricity supply against high demand.
China and India, two of Asia’s largest economies, have been suffering from a worsening energy crunch as global stock and bond markets wobble on worries that rising energy costs will hamper economic recovery from the pandemic.
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