September 19, 2023 - Because of greatly reduced power generation from coal, inventories of coal held by power companies are forecast to increase 60% in 3Q23 compared with 3Q22. Even though coal stocks are expected to decline slightly by early 2024, the gap between coal produced and consumed will remain wide in 2023 compared with 2022, when high natural gas prices increased summer demand for coal, but labor shortages slowed coal production and delivery, depleting coal stocks. Coal stocks allow utilities to generate electricity in times of high demand and when coal production is low or coal delivery is slow.