European Coal Prices Hit 19-Month Low Due to Increase in Renewable Energy

Coal-laden barges sit idle at a quay in Duisburg, Germany, waiting to be offloaded.

The price of coal across Europe has plummeted to its lowest level in 19 months as nuclear and wind power output has surged, contributing to a further decline of this polluting energy source in the power sector.

The spot price for coal futures in Rotterdam, a key benchmark, dropped by up to 1.2%, reaching $100 per ton on Thursday, marking the lowest point since February of the previous year. Over the past months, there's been a consistent downward trend as alternative clean energy sources progressively capture a larger portion of the electric power market.