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

25/06/2015 10:51 Coal


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.

Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.


Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.


Germans outline 20GW offshore blueprint

09/10/2019 09:25:00

Germany plans to start tenders for 5GW of new offshore wind in 2023 and start construction in 2027, a multi-state meeting in Hannover heard yesterday.