Important tidbit from Joe Craft on today's $ARLP call - "Today, utilities are acknowledging that they're dispatching uneconomic gas over coal."
That's because coal stockpiles haven't really improved much since I tweeted this out.
That's because coal stockpiles haven't really improved much since I tweeted this out.
https://twitter.com/mfwarder/status/1529463080484319232?s=20&t=pu22PLXueHomsIrptaNU6g
Sub-bituminous #coal stockpiles - which saved western rate payers last year - are down 13 Mst YoY, with only about 10 Mst between May 31 levels and last year's Aug-Sept lows (during which natgas rose 66%). 
Bituminous #coal stockpile situation is even worse, with levels at all time lows, and only 1.7 Mst away from last year's lows.
During that period last year, coal plants basically shut down to rebuild stockpiles while utilities burned uneconomic natgas...just like today.
During that period last year, coal plants basically shut down to rebuild stockpiles while utilities burned uneconomic natgas...just like today.
Adding an even more serious level of concern, US #natgas inventories are sitting ~300 Bcf below last year's levels, and despite high production levels, injection rates have once again flattened...only this time coal plants can't back them up to the same degree as in 2021.
Our #power grid was bailed out last year by surging Haynesville output and blowtorch Dec temps.
With coal backup in question, and record production/Freeport explosion unable to bolster inventories, this year looks worse.
When Freeport starts back up in winter...what saves us?
With coal backup in question, and record production/Freeport explosion unable to bolster inventories, this year looks worse.
When Freeport starts back up in winter...what saves us?
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