Belgian capacity market will lead to oversupply – Anode

17/09/2019 09:25 Electricity Market


Belgium’s plans to launch a capacity market could lead to an oversupplied system, which will hurt profitability for new and existing power plants, said Anode Energie portfolio manager Kris Voorspools.

TSO Elia was exaggerating the need for replacement capacity, with unprofitable plants kept online under the guise of security of supply reasons, Voorspools recently told Montel.


Belgium plans to hold its first capacity auctions in 2021 and aims to have new capacity ready by the end of 2025 – which remunerates operators for supplying back-up capacity – when the country’s seven nuclear reactors (5.9 GW) are due to be phased out.


Elia estimate Belgium needed 3.9 GW of replacement capacity but Voorspools believed the country’s demand could be met with a lower figure, adding the TSO’s fears last autumn of an imminent supply crunch due unplanned nuclear outages had proved unfounded. 


“A capacity market should be complementary to the spot market, not in direct competition with it,” he said.


Elia is currently holding a consultation on its capacity market design.


Exxon to make $500 million initial investment in Mozambique LNG project

08/10/2019 15:32:00

Exxon Mobil plans to invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique.


Qatar building large CO2 storage plant

08/10/2019 15:26:00

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Daily (08.10.2019): Higher wind power output and warmer weather pushed NBP spot 6.3% down on Monday

08/10/2019 11:10:00

Oil prices were little changed on Monday on hopes of progress in U.S.-China trade negotiations which should take place on Oct. 10-11 in a fresh effort to work out a deal. However, worsening global economic conditions still put pressure on oil demand. Hence, Brent crude ended at $58.35 a barrel, while WTI futures lost 0.1% to end at $52.75 a barrel.