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m a r k e t w a t c h c o n t i n u e d February 2015 www.coalage.com 21 All locations west of the Mississippi saw monthly average prices increase slightly in July 2014 compared to the previous year. PG&E; Gate price increased nearly 23% year- over-year to $4.70/MMBtu, SoCal Border increased nearly 14% to $4.35/MMBtu, Houston Ship Channel increased 12% to $4.03/MMBtu, and the Henry Hub also increased 12% to $4.08/MMBtu. A Year of Challenges for Coal The coal industry experienced many chal- lenges in 2014, declining prompt month coal prices among them. Rail transporta- tion service issues helped impede utilities from rebuilding coal stockpiles, further hurting the demand for coal and contribut- ing to soft prices. Central Appalachia NYMEX December 2014 average prompt month coal declined 13% to $50.06/ton from an average price of $56.60/ton in December 2013. Central Appalachia CSX December 2014 average prompt month coal also declined more than 25% to $51.74 from $64.89 in December 2013. Declining prices year-over-year has been a common theme for the two CAPP loca- tions since highs were reached in 2011. The CAPP NYMEX monthly average price has dropped nearly 35% since the high in July 2011 of $77.48/ton. The CAPP CSX spec monthly average price also fell 34% from its high price in October 2011 of $78.66/ton. Powder River Basin Wyoming Rail coal was the lone coal product in this analysis to see prices appreciate year-over-year. The December 2014 monthly average price rose nearly 6% to $12.43/ton from $11.81/ton in December 2013. Although the price increased over the past year, the monthly average price, similarly to CAPP prices, dropped 12% from the $14.75/ton high experienced in August 2010. The downward trend in average prompt month coal prices is projected to continue into 2015, according to a recent BB&T; Capital Markets report, due to a number of factors including falling gas prices and the U.S. dollar gaining strength compared to the Euro and Australian dollar.