NRG Energy Burns a Lot Less Coal so Far in 2016

coal

NRG Energy (NYSE:NRG) burned only 6.4 million tons of coal during the second quarter of 2016 compared to 9.4 million tons during the second quarter of 2015.

Likewise, the company has consumed only 11.9 million tons of coal during the first half of 2016, compared to 20.9 million tons during the same six months of 2015.

That’s according to data that NRG released Aug. 9 as part of its regularly-scheduled quarterly earnings report.

NRG’s interests in Keystone and Conemaugh (jointly owned plants) are excluded from the fuel statistics schedule, according to a footnote on page 24 of the NRG Energy slide presentation.

The good news is that the NRG coal cost has gone down.

The company’s cost of coal on a dollar per million Btu basis ($/mmBtu) was $2.10 during the second quarter of this year – down from $2.28/mmBtu during 2Q 2015. Coal costs for the first half of 2016 has been $2.21/mmBtu compared to $2.35/mmBtu in 1H 2015.

NRG’s cost of natural gas during the second quarter of this year was only $1.95/mmBtu compared to $2.50/mmBtu in 2Q 2015. During the first half of 2016 NRG recorded a natural gas cost of $2.06/mmBtu compared to $3.30/mmBtu during 1H 2015.

This article was republished with permission.

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