Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Uniper urges caution in Germany's exit from coal

Published 2018-11-13, 06:31 a/m
Updated 2018-11-13, 06:40 a/m
© Reuters.  Uniper urges caution in Germany's exit from coal

FRANKFURT, Nov 13 (Reuters) - Germany should take care in closing coal-fired power plants to avoid disruption and spread risks evenly, power utility Uniper UN01.DE said on Tuesday.

Chief Finance Officer Christopher Delbrueck said on a call with journalists that Uniper had proposed including hard coal plants in a security reserve of 2.7 gigawatts (GW) of brown-coal fired capacity.

"This...could provide supply security despite the coming exit from nuclear power (by 2022)," he said. The call was held after the release of Uniper's nine-month earnings. commission is working on a roadmap for phasing out coal as an energy source, similar to Germany's plan to exit nuclear power.

The commission by year-end is due to present its first proposals on enforcing further cuts to carbon emissions from the coal sector.

Delbrueck said policymakers should also give legal certainty up to 2030 for the operations of gas-fired plants to support investment in that sector and allow voluntary coal plant closure tenders.

"This would make it easier to plan the coal exit and avoid disruptions, while being cost efficient and tolerable for the macroeconomy," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.