INTERNATIONAL IEA releases five-year forecast for weaker global coal demand

摘要

As China looks to cut its dependency on coal, demand growth for the fossil fuel will slow over the next five years, according to the annual Medium-Term Coal Market Report from the International Energy Agency (IEA). While China will account for nearly 60% of new global demand over the next five years, government efforts to encourage energy efficiency and diversify electricity generation will dent that growth, slowing the global increase in demand. "GDP growth and electricity demand in China are projected to decouple due to intensified energy-efficient measures and structural change towards less power intensive sectors," the IEA said. "Remarkably, the projected decrease in electricity intensity leads to a reduction of coal consumption equal to the aggregated annual German and British coal consumption."