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

27/10/2015 00:24 Electricity Market


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 (17.02.2020): Oil posts the first weekly gain since early January on potential OPEC further output cuts

17/02/2020 10:46:00

Crude oil futures rebounded on Friday amid easing concerns over the impact of the lethal coronavirus outbreak on the global energy demand. Meanwhile, prices got some support from signals that OPEC and its allies may intervene to prop up the market.


Italy Overtakes Turkey Among Top Russian Gas Buyers in 2019

17/02/2020 09:03:00

Italy overtook Turkey as Gazprom’s second-biggest buyer of natural gas last year, the Russian company said.


Greece to install 3 GW of solar in mining regions

17/02/2020 08:55:00

Greece has announced plans to install two large solar PV parks at mining sites. The investment will come from the national electric utility as part of its new strategy, in line with Greece’s efforts to phase out coal.