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First German coal closure auction oversubscribed as utilities look to exit uneconomic sector

S&P Global Market Intelligence ($): RWE AG was the major winner in Germany’s first tender for shutting down hard coal-fired power plants, taking two-thirds of the compensation handed out by the government, as strong competition elsewhere drove average prices down to well below the maximum available. RWE and Vattenfall AB both secured contracts for closing […]

December 1, 2020 Read More →

Germany launches first tender in country’s coal power phaseout

S&P Global Market Intelligence ($): Germany has launched a first coal plant closure compensation tender for 4 GW of hard coal capacity, the country’s federal network agency, BNetzA, said Aug. 4, as part of the country’s phasing out of the fuel by 2038. Germany’s coal exit law, approved by parliament July 3, calls for eight […]

August 5, 2020 Read More →

Finland’s Fortum faces environmental backlash as Datteln 4 coal plant nears operation in Germany

S&P Global Market Intelligence ($): In Fortum Oyj’s first earnings call since its acquisition of a majority stake in German power producer Uniper SE, the Finnish utility assured stakeholders of its plan to cut emissions across its asset fleet. To that end, it is running strategic reviews and may explore the sale of certain plants. […]

May 18, 2020 Read More →

Norway’s investment fund withdraws coal-related holdings, puts others on notice

Reuters: Norway’s $1 trillion wealth fund is excluding some of the world’s biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also excluding German utility RWE, South African petrochemicals firm Sasol and […]

May 13, 2020 Read More →

Siemens and Uniper to cooperate on green hydrogen development

PV Magazine: Siemens and the Uniper fossil fuels business spun out of German energy giant E.on have been working together for years and have announced a cooperation agreement aimed at decarbonizing power generation and driving sector coupling. Part of the newly announced initiative will focus on the production and use of green hydrogen. The partners […]

April 10, 2020 Read More →

European utilities continue their exit from coal-fired electricity generation

S&P Global Market Intelligence ($): Utilities in Europe are continuing to move on from coal power after a challenging price environment led to billions in write-downs and a wave of early closures in 2019, with government phaseouts set to cut down the list of remaining power plants even further in the coming years. Francesco Starace, […]

March 30, 2020 Read More →

Uniper set to close 2.9GW of German coal capacity by 2025

Reuters: Uniper aims to close most of its German hard coal-fired power plants over the next five years, accounting for half its European coal capacity, the utility said on Thursday. Uniper, formed in 2016 after being spun off from E.ON, has drawn up plans to shut down about 1.5 gigawatts of capacity involving three blocks […]

January 30, 2020 Read More →

German cabinet gives final approval to $55 billion coal plant phaseout plan

Bloomberg: Chancellor Angela Merkel’s cabinet approved legislation that sets out the timetable to close more than 100 coal power plants across Germany, entrenching the most important part of a program to green Europe’s biggest economy. The law when passed will govern 50.8 billion euros ($55 billion) of compensation for regions and companies that rely on […]

January 29, 2020 Read More →

France’s EDF to close 580MW Havre coal plant in early 2021

Reuters: France’s 580 megawatt (MW) Havre coal power plant will close on April 1, 2021, the energy ministry said on Friday. The closure is part of the government’s plan to phase out its remaining 3,000 MW of coal generation capacity by the end of 2022 to meet its target of curbing carbon emissions from the […]

January 13, 2020 Read More →

Draft law would begin German hard coal phaseout in 2020

Platts: Germany plans to close 4 GW of hard coal-fired plants via a first annual compensation auction in June 2020, an energy ministry spokeswoman told S&P Global Platts Tuesday. Compensation for closures is to be awarded to bidders offering the lowest cost of avoided CO2 emissions with winning plants set to close after winter 2020/21. […]

November 13, 2019 Read More →