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Home > Affordable

Affordable

Coal Keeps Electricity Prices Affordable

One of the greatest strengths of coal is its low fuel price. According to data from the Energy Information Administration (EIA), coal costs around one-third to one-fourth the price of other fuels like natural gas (one of the primary substitutes for coal for meeting baseload electricity needs). And because fuel costs are an important factor in determining the final cost of electricity, the low cost of coal translates into lower electricity prices.  

In 2008, the marginal (production) cost of electricity generated with natural gas was approximately three to five times more expensive than electricity [generated from coal]. 

Coal Natural gas combined cycle Gas turbine
$23.48/MWh $73.97/MWh $110.94/MWh

 

Coal has been a long-term energy value for the American consumer, and data suggest that trend is not about to end. While the price of other fuels bounces around, coal’s price has not only been low – it has remained predictably low. Going forward, experts predict fuel price for coal will actually decrease slightly between now and 2030 (by about 2 percent), while natural gas prices are projected to increase by about 60 percent during the same timeframe.

Affordable electricity is especially important for American families. Every dollar spent on energy is one less dollar available for other necessities. A recent ACCCE-commissioned analysis found that the 60 million American households with annual incomes below $50,000 spent 22 percent of their after-tax income on energy. That’s more than one-fifth of every dollar in take-home pay.

And low-cost energy is also important to American businesses. Given that energy prices are an important component in determining the cost of American products that must compete in global markets, maintaining access to affordable energy here at home plays a key role in growing our economy and creating jobs for American workers.

For these reasons, we are committed to policies that help keep energy costs affordable for consumers and businesses alike. And when it comes to producing electricity affordably – coal still remains America’s fuel of choice.