US coal prices have jumped to their highest level in more than 12 years as the industry scrambles to keep pace with surging demand driven by power producers switching to the heavily polluting fossil fuel.
The spot price of coal in the Central Appalachian region — a benchmark for the eastern US thermal coal market — jumped by more than $10 last week to $89.75 per short ton, the highest level since 2009, according to data released on Monday from S&P Global.
The use of coal has rebounded, driven by stronger electricity demand and a doubling of natural gas prices this year, leading some power generators to switch to the fuel. High international prices have also propelled US coal exports.
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