US coal stores off 4.6 pct for week - Genscape

HOUSTON Jan 5 (Reuters) - Coal stockpiles at U.S. power plants fell 4.6 percent this week from last week as the gap between shipments and consumption grew despite a rebound in rail deliveries, Genscape said Tuesday.

Total coal inventory was 4.1 percent greater the first week of 2010 than the same week of 2009, continuing recent weeks' steep decline in year-over-year surplus, the power industry data provider said.

Power generators had 164.2 million tons of coal on hand as of Monday, down from 172.1 million tons last Monday but up from 157.7 million tons the same week last year, Genscape said.

As of Monday, U.S. generators -- which rely on coal to fuel about half of U.S. electricity production -- had an average of 63 days' supply of coal on hand, assuming typical burn rates, down from 66 days the previous week, Genscape said.

Power companies this week averaged three more days' of coal stockpiled than the same week of 2009, one less than last week's cushion over the same week a year before, data showed.

"Rail shipments of coal rebounded this week but not anywhere close to levels that would compensate for reduced shipments in the prior week when inclement weather hindered deliveries," Genscape said.

"The growing gap between shipments and consumption has once again led to a significant weekly drawdown of coal inventories, particularly at plants in the West North Central and South Atlantic regions," the power industry data provider said.

"Despite the continued reductions in inventory, there is still a long way to go before getting back to prefinancial crisis inventory levels," Genscape said.

Inventories typically grow in spring and fall when demand for heating and cooling drops. Stockpiles usually shrink during summer and winter when demand rises for climate control in homes, stores and factories.

The past 12 months have been different.

Due to the economic slowdown, coal inventory at the end of summer 2009 was unusually high, partly because drawdowns were weak and miners had geared up to ship more based on 2008 performance. The autumn buildup was slower as a result.

Mathematical rounding sometimes affects the results, overstating some changes and understating others, Genscape has said. (Reporting by Bruce Nichols; Editing by Lisa Shumaker)