It has been a good year for dirty energy as supply-side challenges, coupled with strong demand, set coal and oil prices on an upwards trajectory even before Russia’s invasion of Ukraine, which has led to further strengthening of energy prices over the past two weeks.

Since the start of 2022, the price of Brent crude has increased from about $78/barrel to $130 and coal prices have leapt from about $130 per tonne to $400. The high coal price has been a saving grace for SA coal miners, who battled to match export volumes from previous years due to ongoing troubles at the state-owned rail company Transnet...

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