Coal prices have jumped to their highest level in more than two years due to oil and gas supply disruptions caused by the Middle East war, the Financial Times reports.
Rising gas prices have prompted energy companies that typically rely on gas to turn to coal-fired power plants as an alternative, particularly in Japan, South Korea, Taiwan, and the EU.
Italy’s Minister of Environment and Energy Security, Gilberto Pichetto Fratin, said the country will consider restarting some idle coal power plants if the energy crisis caused by the war deepens.
According to Argus data cited by the outlet, European thermal coal prices used at power plants have risen 26% since the start of the war — to $133 per tonne. Similar increases are being seen in Australian and Asian markets. Armenia News – NEWS.am
