A slew of cooling measures announced by China has led the futures prices plunging more than 53% since its high of 1,982 yuan on Oct 19.

Coal (including lignite) still dominates the energy mix with 60% in 2020, but its share is decreasing rapidly (-11% points since 2010).

As per the recently released, World Energy Outlook 2021, IEA forecasts that’s India's power demand is slated to nearly treble to 5000 TWh by 2050, let primarily by renewable sources of energy.

Several factors are fuelling this price surge in energy commodities – primary among them is energy demand having rebounded as economies get back to business and consumers return to pre-pandemic levels of economic activity.

Temperatures have dropped sharply in many parts of northeast and northwest China, state media said. In Heilongjiang, all heating systems have been opened, and heating companies in Harbin city began supplying heat 4 days earlier than normal, Yulin in Shaanxi province is 10 days ahead of schedule, and Datong in Shanxi province started 13 days earlier than previous years.

In 2020, coal-fired generation declined by a quarter to 858 TWh, due to a drop in electricity demand and low natural gas prices, accounting for 20% of the country's electricity mix.

The draft Power Development Plan 8 (PDP 8) of Vietnam forecasts an installed capacity of 144 GW in 2030, with coal-fired power plants accounting for 31% of the country's installed capacity in 2030.

We expect Brent prices will remain near current levels for the remainder of 2021, averaging $81/b during the fourth quarter of 2021. In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining from current levels to an annual average of $72/b.

This scenario also sees an accelerating pace of change in the power sector, sufficient to realise a gradual decline in the sector’s emissions even as global electricity demand nearly doubles to 2050.

India is more exposed to the international spot coal market as it does not have many longer-term supply contracts. So, when spot prices jump, you see a corresponding decrease in imports

Market participants said that while Chinese demand is lifting coal prices, the downside risk is limited given suppressed demand from India -- the world's third-largest coal consumer.

From January through Sept. 18, US coal production stood at 415.98 million st, up 8.4% from the corresponding period of 2020.

Poland would be able to diversify its natural gas supplies in 2022 with the opening of the Baltic pipeline which would bring gas from Norway.

This investment would reduce CO2 emissions by 500 million tonnes cumulatively by 2040, equivalent to approximately 25 million tonnes of CO2 per year.

"China will step up support for other countries in developing green and low-carbon energy and will not build new coal-fired power projects abroad," Xi said.