Tag Archives: Coal (NEC) (TRBC level 5)

Germany grants second round of permits to close hard coal plants | Instant News


FRANKFURT (Reuters) – More than 1,500 megawatts (MW) of coal-fired power plants will close from December 8 this year, Germany’s energy regulator said on Thursday, announcing the results of a second round of auctions designed to cover closing costs. polluting plants.

FILE PHOTOS: Steam rises from the cooling tower of the coal-fired power plant RWE, one of Europe’s largest electricity and gas companies in Niederaussem, Germany, March 3, 2016. REUTERS / Wolfgang Rattay / File Photo

Germany has pledged to abandon coal by 2038 and achieve a largely carbon-free energy system by 2050, but is also seeking to reduce its impact on utilities, territories, jobs and public budgets.

Under a series of tenders between 2020 and 2027, operators were asked to state what price they would be prepared to close their hard coal plants in exchange for funds to partially offset their losses.

The regulator sets a maximum price per MW of capacity to limit public sector bills. The final price takes into account the bidder and the CO2 emissions of the plant concerned.

Of the 1,514 MW that will go offline in December, the standout is Uniper’s 757 MW Wilhelmshaven plant on Germany’s North Sea coast.

After 2027, compensation is no longer available, so operators are ready to bid as low as possible to avoid losses from competitors.

“The auction is again oversubscribed,” said Jochen Homann, head of the Bundesnetzagentur regulator. “The highest awards lie well below the maximum prices previously set.”

In all, the three successful bidders will receive between zero and 59,000 euros per MW, regulators said.

This is what they offered to close their factory, after the regulator set a maximum price of 155,000 euros / MW.

The third auction bid for the closure of 2,481 MW by the end of 2022 will close on April 30.

After the first auction, regulators closed 4,788 MW of coal-fired power plant capacity on January 1, 2021.

The more highly polluting brown coal is closed through a separate scheme with fixed compensation.

Reporting by Vera Eckert, editing by Barbara Lewis

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Australian securities regulators search the offices of coal miners TerraCom | Instant News


MELBOURNE, March 29 (Reuters) – Australian securities regulators ransacked coal miners TerraCom Ltd on Monday with assistance from Queensland state police, according to a report in the Australian Financial Review.

The investigation came after regulators confirmed it was investigating the ALS testing laboratory, whose internal review last year found that about half of the certificates awarded for export coal samples over the past decade had been altered to improve demonstrated quality.

The laboratory review made no mention of associates, but began after the unfair dismissal of TerraCom – which bought the Blair Athol coal mine in 2017 from Rio Tinto – that the miner had worked with ALS to fabricate export documentation.

TerraCom, which sells coal to Japan, Korea and China, has denied the allegations that have arisen in the case. Deputy Chairman Craig Ransley told Reuters that TerraCom will continue to work with authorities on industry-wide investigations.

Australia is the world’s largest coal exporter and ALS is one of the largest coal testers. “I can confirm that a warrant was issued today on behalf of ASIC, with the assistance of the Queensland Police,” said a spokesman for the Australian Securities and Investments Commission (ASIC), on condition of anonymity TerraCom.

Queensland Police, asked if Blair Athol TerraCom’s operation had been searched, said ASIC was leading the matter and referred any questions to regulators.

Last week, local media reported that ASIC Commissioner Cathie Armor told a Senate forecast hearing that she was “well aware” of allegations that the ALS lab had improved coal quality results on export certificates.

Armor did not provide further information due to ASIC’s policy of not commenting on issues being investigated, according to a report by the Australian Associated Press. South Korean electricity provider South-East Power banned ALS from certifying its coal tender last year. (Reporting by Melanie Burton; Editing by Tom Hogue)

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Germany opens a third auction for payments to close coal-fired power plants | Instant News


FRANKFURT, March 3 (Reuters) – Germany’s energy regulator has opened a third round of bidding for coal-fired power plant operators to compete for compensation to cover their capacity, part of the country’s shift towards carbon-free power.

Germany has decided to abandon coal in 2038 and achieve a carbon-free energy system by 2050.

A spokesman for the Bonn Bundesnetzagentur-based regulator said a bid had to be submitted by April 30 to cover the 2,481 megawatt (MW) capacity that would go offline by the end of 2022.

The regulator’s website shows the maximum price per megawatt of closed capacity will be € 155,000 ($ 186,883).

In the auction, operators announce the price they will be prepared to close their factories in exchange for funds to cover some of their financial losses.

The winner is determined not only by price but also by the relationship between the costs expected to result in a CO2 reduction.

The second round, which opens on January 4 to deactivate capacity of 1,500 MW and which also sets a maximum price of 155,000 euros / MW, has concluded with results due in the coming weeks, the spokesman said.

Following the first round of bidding, which opened in September, regulators closed 4,788 MW of coal-fired power generation capacity on January 1.

The average pay to operators in the round was set at 66,259 euros / MW after bidding ranged from 6,047 euros / MW and 150,000 euros / MW.

The auction will continue in the coming years, but after 2027, coal-fired power plants can be ordered to close without compensation.

$ 1 = 0.8294 euros Reported by Vera Eckert; Edited by Edmund Blair

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China’s aluminum sector must shut down inefficient coal power to meet climate goals – report | Instant News


(Reuters) – China’s aluminum sector will have to cover a dedicated power capacity equivalent to more than Germany’s entire coal fleet over the next decade to keep Beijing on track to fulfill its carbon pledge, said climate think-tank Ember.

FILE PHOTOS: Aluminum bar stock seen inside factory in Dongguan, China April 10, 2018. REUTERS / Bobby Yip

China accounts for more than half of global aluminum production, producing 37 million tonnes by 2020. President Xi Jinping has promised that China will achieve peak emissions by 2030 and carbon neutrality by 2060.

Ember, in a report to be published on Monday, said last year’s record aluminum output emitted more CO2 than several countries, including Indonesia and Brazil.

China will need to close around 47 gigawatts of inefficient subcritical coal power capacity dedicated to aluminum over the next 10 years or more if it is to become carbon neutral by mid-century, report author Muyi Yang told Reuters.

The total German coal power capacity is 42 GW.

Chinese aluminum makers have long relied on off-grid captive power plants for energy-intensive smelting processes, with generating units alone accounting for about 65% of the electricity they use, according to Yang.

But they are being pushed by the government to use cleaner sources of electricity and join China’s long-awaited emissions trading scheme in the low-carbon aluminum drive.

Recent years have seen a significant migration of aluminum capacity to China’s southwestern Yunnan province, which has abundant hydropower resources.

But “further action is still needed,” said Yang, a senior electricity policy analyst at Ember. “The magnitude of the challenge is enormous.”

Smelters should use cleaner electricity when available but can also improve production efficiency and do better recycling of aluminum, he said, adding China should encourage more efficient use of aluminum throughout its economy.

More than 45% of China’s inefficient captive coal capacity is at the heart of the Shandong province’s smelter, said Ember, with more than a third, or 17 GW, owned by China’s leading private sector producer Hongqiao Group.

Hongqiao, one of the smelters that has moved capacity to Yunnan, did not immediately respond to a request for comment.

Reporting by Tom Daly; Edited by Susan Fenton

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Australian, New Zealand stocks rose as the vaccine euphoria lifted hopes of a recovery | Instant News


(Reuters) – Australian stocks finished higher on Wednesday for the fifth straight session, supported by financial and energy stocks, as promising news about an effective COVID-19 vaccine fueled hopes of a speedy global economic recovery.

FILE PHOTOS: A board displaying stock prices is seen on the Australian Stock Exchange (ASX) in Sydney, Australia, 9 February 2018. REUTERS / David Gray

Australian S & P / ASX 200 benchmark index .AXJO closed 1.7% stronger at 6449.7, after hitting the highest level since March 3 during the session.

Pfizer Inc. PFE.N announcement on Monday of a candidate for the COVID-19 vaccine, developed with German partner BioNTech SE BNTX.O, being more than 90% effective at preventing infection has brought global investors back into stricken airline, travel and tourism stocks.

“Reflection trading continues to work in earnest and rotation to unloved areas of the market continues,” Pepperstone’s Chris Weston wrote in a note.

Australian airline Qantas Airways QAN.AX profits extended to a third consecutive session, while travel booking company Webjet WEB.AX jumped nearly 4% to post seventh session gains.

Energy index .AXEJ rose 5.1% to the highest level since July 3 as crude oil prices strengthened. [O/R]

Whitehaven Coal WHC.AX and Oil Search OSH.AX were the top winners in the sub-index, up 8.9% and 7.6%, respectively.

Woodside Petroleum WPL.AX added more than 6% after the country’s largest independent gas producer reiterated that the Scarborough and Pluto Train 2 liquefied natural gas projects are on track for final investment decisions in the second half of 2021.

Australian financial heavyweight stocks .AXFJ up 2.3%, with shares of Commonwealth Bank of Australia, the nation’s biggest lender CBA.AX, up 2.8% even while reporting a drop in first-quarter cash profit.

Gold stocks .AXGD fell 1.7%, as vaccine-driven euphoria pushed investors towards riskier assets, undermining bullion’s safe-haven appeal.

In New Zealand, the benchmark index S & P / NZX 50 .NZ50 ended 0.4% at 12,665.63.

The country’s central bank introduced a funding facility on Wednesday that would reduce costs for lenders while keeping the benchmark interest rate at a record low.

“Unless the RBNZ can ensure these loans primarily support businesses, it’s often easier to cheaply finance just to encourage more mortgage lending,” analysts at ING said in a note.

Reporting by Deepali Saxena, Editing by Sherry Jacob-Phillips

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