Vattenfall to phase out two German lignite plants to meet climate change objectives

27/10/2015 00:24 Electricity Market

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Swedish utility Vattenfall agreed on Monday to phase out two lignite coal power plants in Germany, corresponding to 8 million tonnes of CO2-emissions.

Two units of 500 MW each of its Janschwalde power plant will be taken out of regular operation in October 2018 and October 2019 – remaining on stand-by during a transition period to guarantee security of supply. The complete shutdowns will occur in 2022 and 2023 respectively. The closure is a part of a deal between Germany’s economy ministry and lignite operators to slash lignite power capacity by 2, 700 MW by 2020 in order to curb greenhouse gas emissions. Under the deal, plant operators will be compensated for the stand-by availability, amounting in total for all operators to approximately EUR 230 million per year over seven years. Germany remains heavily reliant on lignite, the most polluting fossil fuel, despite state efforts to back expansion of clean energy. Lignite-fired power plants generated 25.6 % of the country’s electricity output in 2014, nearly the same share as renewables. Vattenfall, is Germany’s fourth largest power provider, supplying 2.9 million power customers in 2014.

Daily (16.09.2019): NBP spot soared by over 13% on Friday amid higher demand after official order to cut Gazprom’s flows

16/09/2019 11:55:00

Crude oil prices traded lower on Friday, amid worries over global economic slowdown and thinner oil demand. WTI futures fell by 0.4% to $54.85 a barrel, while Brent crude edged 0.3% down at $60.22 a barrel, heading for the first weekly fall in three and five weeks respectively. Nevertheless, crude prices are expected to spike after a drone attack on two Saudi Aramco oil facilities on Saturday, which slashed by 50% Saudi Arabia’s oil output, or the equivalent of 5% in the global oil supply.

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EBRD extends renewable energy programme for Kazakhstan

16/09/2019 09:27:00

The EBRD is pledging fresh funds to support Kazakhstan’s drive as a regional leader to promote renewable energy, with the help of a second phase of the Bank’s Kazakhstan Renewables Framework of up to €300 million, the Bank reported.

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Germany's Notus to add 270 MW wind capacity in Ukraine

16/09/2019 09:24:00

Germany-based Notus Energy Group intends to build 270 MW of wind parks in Ukraine that will kick off operations by 2021, it said last week.

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