# Biomass and Thermal coal

Their prices have moved together.

Source page: https://www.materialinsights.org/links/biomass-and-thermal-coal/

[Biomass](https://www.materialinsights.org/energy/e_biomass/) (energy) and [Thermal coal](https://www.materialinsights.org/energy/thermal_coal/) (energy): 1 relationship.

## How they are linked

### 1. Price link: substitute

*Cost and price · Moderate · Both ways*

Power stations in Europe, Japan, Korea and India co-fire pellets or residues with coal, so coal and carbon prices decide how much biomass they buy. The chip proxy and coal move together over a year, with 12-month changes correlating at 0.54.

- **0.14** monthly change correlation
- **0.54** 12-month change correlation
- **0.19** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.