[SMM Flash News] US Boosts Coal Plant Funding as Utilities Prepare for Long-Term Demand Growth

TotalEnergies will submit an expanded climate vigilance plan after a Paris court ruled on June 25 that the company must better address climate risks associated with its Scope 3 emissions. The French energy major has six months to revise its plan, outlining measures to reduce end-use emissions from its products. TotalEnergies said it welcomes the ruling and will incorporate additional information from its sustainability report, noting it had already reduced the carbon intensity of its energy products by 18% from 2015 levels by the end of 2025 and continues to target a 25% reduction by 2030.

The US has eased additional sanctions on Venezuela to facilitate financial transactions related to earthquake relief after two powerful earthquakes struck the country on June 24, leaving at least 589 people dead, around 3,000 injured, and thousands still missing. Washington also pledged US$150 million in humanitarian assistance through non-profit organizations. While energy infrastructure was largely unaffected, international rescue teams have joined ongoing search and recovery efforts in the hardest-hit areas.

Kyrgyzstan has imposed a six-month ban on coal exports by road effective June 23, covering coal classified under HS codes 2701 and 2702. The restriction excludes shipments through the Irkeshtam and Torugart border crossings to China, while state-owned producer Kyrgyzkomur is also exempt. The move comes as Kyrgyzstan seeks to strengthen domestic coal supply and expand coal-fired power generation. The country aims to produce nearly 1.62 million mt of thermal coal from the Kara-Keche mine in 2026 to reduce reliance on imported electricity.