Energy company collapses and confirms it will stop trading millions of tons of coal in 2026

A TOP energy company that’s been operating for decades has confirmed that it will stop trading millions of tons of coal starting this year.

The operation is shutting down for good in the coming months in a shocking update.

By this summer, the Superior Midwest Energy Terminal in Superior, Wisconsin, will close, per Northern News Now.

This has been operated by Midwest Energy Resources Company (MERC), which is based in Duluth, Minnesota, for several decades.

Since the 1970s, MERC has offered truck, rail, and vessel delivery of coal through the terminal.

MERC is owned by DTE Electric, but its lease is up on June 30, 2026, and DTE Electric does not plan to renew it.

That means that MERC will close for good along with the Superior Midwest Energy Terminal.

COMPANY SPEAKS OUT

“MERC has been a valuable part of DTE’s operations for many years,” a spokesperson for DTE told the outlet.

“However, as we adapt to changing energy needs, continuing its operations just doesn’t align with our business direction.”

DTE emphasized that employees with MERC have been offered a chance to apply for other jobs at the company.

At this time, it’s unknown how many staffers will be impacted, but a staffer who spoke with Northern News Now claimed there are 60.

Superior Mayor Jim Paine said that the city is working alongside those affected and hopes to fill the open space with an operation to continue the trading of millions of tons of coal.

MERC’s website notes that DTE gets about 10 million tons of coal yearly through the Midwest Energy Terminal.

There’s less demand for coal in 2026, however, leading to a shift away from using it as an energy resource.

DECLINING TREND

According to data from the United States Energy Information Administration (EIA), coal’s contribution to energy consumption was at a whopping 37% in 1950.

As of 2023, it was just 9%, “largely because the US electric power sector has increased use of other energy sources and reduced coal consumption.”

The peak of US coal consumption was actually in 2005, and production peaked a bit earlier in 1998.

In 2023, total coal production was 11% of US energy.

Overall, coal is being replaced by cheaper natural gases and renewable alternatives across the globe.

It still remains the most abundant source of electricity in the world, however, according to the Society for Mining, Metallurgy & Exploration.

As of this past year, about 36% of global electricity remains coal-powered.

Americans are bracing this winter for soaring energy bills as well, with averages getting up to $1,189 for the season amid “cold snaps.”

There are ways to easily save at home, however, including always washing clothes on a cold cycle.