Germany to choose between a coal levy and gradual phase out of coal power plants on July 1

25/06/2015 10:51 Coal

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Germany is considering two alternative proposals on how to curb CO2 emissions from the energy sector and would make a final decision on July 1, Economy Minister Sigmar Gabriel said on Wednesday.

The economy ministry will now decide between its original proposal - to charge a penalty on the oldest and most polluting coal power plants -and a suggestion from trade union IG BCE to progressively phasing out coal power stations. The move came after the minister has faced a backlash from industry, which warned that the levy would result in the closure of mines and power plants, putting up to 100,000 jobs at risk. The so-called “climate levy” is aimed to help Germany reaching its goal of reducing CO2 emissions by 40% by 2020, including 22 million tonnes in emissions from the power sector. Berlin’s attempt to meet its ambitious targets to combat climate change illustrates its major challenge. Despite a shift towards renewable energy, Germany still generates 44 per cent of its electricity from coal.

SSE to sell energy services unit to OVO Energy in 500 million pound deal

13/09/2019 11:16:00

SSE Plc (SSE.L), one of Britain’s big six energy suppliers, said it had agreed to sell its energy services unit to OVO Group for 500 million pounds ($617.6 million), including debt, as it looks to focus on renewable energy and electricity networks.

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Floating wind-to-hydrogen plan to heat millions of UK homes

13/09/2019 11:09:00

Project aiming to deploy 4GW, £12bn 'green hydrogen' array in the North Sea is backed by UK government

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Daily (13.09.2019): Welding anomalies at French nuclear reactors supported spot gas and power prices across Europe

13/09/2019 11:03:00

Crude oil prices had another bearish day, after Donald Trump denied the possibility on an interim U.S.-China trade deal. Comments by OPEC+ alliance that deeper cuts would not be decided before a meeting in December and ECB’s decision to cut its deposit rate also weighed on prices. Hence, Brent crude dropped by 0.7% to close at $60.38 a barrel, while WTI futures lost 1.2% to settle at $55.09 a barrel.

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