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The Guardian: The chair of Australia’s Energy Security Board says a taxpayer-funded gas-fired power plant in the Hunter Valley makes little commercial sense given the abundance of cheaper alternatives flooding the market. The Morrison government is continuing to hold out the prospect of Snowy Hydro building a new plant at Kurri Kurri to replace the […]
IEEFA
S&P Global Platts ($): Chile plans to close half of its coal-fired power plants by 2025, 15 years ahead of a deadline to eliminate the fossil fuel from its power mix, Energy Minister Juan Carlo Jobet said April 28. “We are continuing to consolidate the age of clean energy and leaving behind the coal age,” […]
IEEFA
Chattanooga Times Free Press: The Tennessee Valley Authority, which once got nearly two thirds of its power by burning coal, is preparing plans to phase out the last of its aging fleet of coal power plants within the next decade and a half and turn to more natural gas, nuclear and renewable energy sources like […]
IEEFA
Inside Climate News: A fist in the air. Fukushima prefecture can be forgiven for using that symbol of protest after the nuclear disaster a decade ago. In the case of renewable energy firm Aizu Electric Power, however, its fingers are rainbow-colored. Started in 2013 by Yauemon Sato, the head of an over 200-year-old, family-run sake […]
IEEFA
Reuters ($): South Australia has set a stunning new benchmark in the electricity market, with its big share of rooftop solar sending the average daytime wholesale price of electricity to below zero in the first quarter. According to the Energy Market Operator, the average price of wholesale power in South Australia between 10am and 3.30pm […]
Tim Buckley
Company’s shareholder wealth destruction is extreme and ongoing
Whitehaven Coal has long set its strategic direction on the implicit assumption that the world would fail to deliver on the Paris Agreement. Its investor communications and Board strategies have largely ignored and more recently downplayed this key financial and strategic risk. The financial market however is not so blind. The shares of Whitehaven Coal […]
IEEFA
Manila Standard: The consortium behind Redondo Peninsula Energy Inc. pulled out of the planned 660-megawatt coal-fired facility in Zambales province. RP Energy is a joint venture among Meralco PowerGen Corp., a unit of Manila Electric Co., Therma Power Inc. of the Aboitiz Group and Taiwan Cogeneration International Corp. Aboitiz Power Corp. president Emmanuel Rubio said […]
IEEFA
Bloomberg ($): A joint venture in Japan has scrapped plans for a coal-fired power plant, leaving the country with no new construction on the horizon as companies drop the dirty fuel amid tighter emissions rules and strong growth outlook for renewables. Kansai Electric Power Co. and Marubeni Corp. won’t move forward with a 1.3 gigawatt […]
IEEFA
Bloomberg ($): Qian Guoqiang thought his luck must finally be changing. China’s surprise declaration last year that it would zero out planet-warming carbon dioxide came on the 22nd day of the ninth month. Qian’s office is in No. 922, located on the ninth floor of a skyscraper in Beijing’s Dongcheng district. At long last, he […]
IEEFA
ABC News: It’s no easy task, attempting to make a virtue out of inaction. So spare a thought for Prime Minister Scott Morrison in his address to US President Joe Biden’s virtual climate conference with global leaders late last week. Despite being at odds with the bulk of those present, many of whom upped already […]
IEEFA Pakistan: Coal gasification and liquefaction harmful to economy
There is no second life for coal6 May 2021 (IEEFA Pakistan): Pakistan’s intention to use coal for power production through gasification and liquefaction technologies is likely to cause harmful economic impacts and a subsequent increased reliance on fossil fuels in Pakistan, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Pakistan’s intention to explore a second […]