US coal consumption for the power sector will total an estimated 792.9 million st in 2015, the lowest amount since 1991, the Energy Information Administration said Tuesday. Lower natural gas prices are the main reason behind the decline, the agency said in the June edition of its Short Term Energy Outlook. In 2014, coal consumption in the power sector totaled 851.4 million st. Tuesday’s report is another indication of how far the US coal industry has fallen since the shale boom has increased gas supplies and lowered prices. The year-over-year drop comes despite the agency’s forecast for the average US residential electricity costumer to spend 4.8% more during June, July and August, reflecting a 2.6% increase in the average electricity usage and a 2.1% increase in the average retail price of electricity. Article continues below… Platts Coal Trader provides the latest prices for key benchmark coals, as well as: […]