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Tuesday, 12 May 2015

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)

2 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.

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