Global coal consumption will rise to an all-time high this year and remain flat at that level until 2025, according to the International Energy Agency (IEA).
The Paris-based climate agency has calculated global coal use will rise 1.2 per cent this year, exceeding 8bn tonnes in a single year.
Global coal-fired power generation is set to rise to a new record of around 10.3 twh this year.
Meanwhile, coal production is forecast to rise by 5.4 per cent to around 8.3bn tonnes, also an all-time high.
It also predicts coal consumption will stay elevated over the next three years, as drop-offs in mature markets are offset by continued strong demand in emerging Asian economies.
High gas prices following Russia’s invasion of Ukraine has driven some countries to purchasing relatively cheaper coal this year.
The largest increase in coal demand is expected to be in India (seven per cent), while European Union has ramped up its coal usage 6 per cent as it looks to pivot from Russian fossil fuels.
Keisuke Sadamori, the IEA’s director of energy markets and security said: “The world is close to a peak in fossil fuel use, with coal set to be the first to decline, but we are not there yet.
“Europe’s coal demand has risen due to more switching from gas to coal due to high gas prices and as Russian gas has reduced to a trickle.”
Production is expected to reach a peak next year but by 2025 should fall to below 2022 levels.
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