Gas-starved Europe's revival of coal plants spells bad news for India

Coal consumers in India are taking evasive action to save their balance sheets

This week, the chief of the Indonesian Coal Mining Association said Indonesian coal miners expect Germany will be their third largest importer by 2023, just behind China and India. The over 150 per cent rise in prices of the fuel across Europe since January this year – a fallout of the gas supply crisis after Russia invaded Ukraine, has made this seemingly absurd ranking possible. More to the point, it has implications for India, which has been an increasing net importer of coal in recent years.

The huge price rise in Europe has made coal mines nearer the continent, such