Skip to main content

UBS report shows coal and gas plants closing quicker than expected

The transition to renewable power generation is accelerating closures of coal and gas-fired power generation plants at a quicker rate than expected according to a report from investment bank UBS. The report has found that some 70 GW of coal and gas-fired power generation shut-downs have occurred in the last five years, and the pace is increasing, according to the analysis. This in turn means policymakers may have to take measures to prevent widespread bankruptcies in the European electricity market.

The report also identifies a further 24 GW of thermal plant under the threat of closure over the next two years. The data shows that nearly half of the remaining 260 GW of coal and gas-fired generation in Europe is cash flow negative, which means that they do not have enough money to cover their basic costs.

Proposals to offer a subsidy to fossil fuel generators, in the form of capacity payments or similar, have attracted fierce opposition. However, UBS says the cost of this can be relatively small, adding only 0.2 percent to prices, or a total of just over 1 billion euros per annum.  


From: Power Engineering International (PEi)

Comments

  1. Could you precise the name of the report? Not available on line!

    ReplyDelete
    Replies
    1. You're right, I can't find it either. Worse, I can't find a contact email for UBS, so I've tweeted them about this instead. If I find out, I will naturally include the name of the report on here.

      Delete

Post a Comment

Popular posts from this blog

The Battle of the Blogs? Whitlock goes to War...

Good day folks, you're all in for a bit of a treat as it happens, so I hope you're sitting comfortably. Before I go any further, I should issue a 'long read' warning. This blog piece is going to be fairly long, quite involved in its detail, but hopefully very enjoyable if you despise and detest climate change denial, as I do. But first, an explanation of the circumstances.

The other day, on Twitter, I indulged in a bit of regular fun-poking at James Delingpole, as I often do because, quite simply, the man just invites it. For those not in the know, Delingpole is a pretty nasty character really. He writes regular blog pieces and op-eds for Breitbart and The Spectator, usually on climate change, but also on other subjects as well. He is usually, and seemingly, unashamedly vicious, as will become apparent in my coverage of him and his behaviour in this piece. Given his behaviour, I am not afraid, occasionally to indulge in a bit of 'ad-hominem' warfare myself, ind…

Array Technologies leads US market in solar tracker shipments

5 Companies and Their Efforts to Reduce the Environmental Impact of Manufacturing

By Rana Tarakji
The Industrial Revolution has undoubtedly affected the environment. From pollution to global warming, the environment has taken on a lot of the burden for many of the advancements that humans have enjoyed.
Unfortunately, the manufacturing industry is one of the biggest contributors to the significant damages and hazards on the environment. Manufacturing companies are among the biggest producers of solid, liquid, and gaseous wastes that lead to huge levels of pollution.
Although many manufacturing companies still do not have policies and practices in place to reduce their negative impact on the environment, there are many who are taking the lead to a more sustainable and environment-friendly approach.
Coca Cola When it comes to beverage manufacturers, Coca Cola is among the biggest around the world. They have started taking on a more responsible environmental commitment by making water preservation, sustainable packaging, and energy and climate protection among their goals.…