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Jose Bogas, chief executive of Spanish power group Endesa, said Tuesday that by 2020 the company will completely shut down coal-fired power plants
fueled by domestic coal mining.
"Under current conditions, it is not economical to refurbish domestic (coal-fired) power plants unless payments are in place," Bogas told analysts on a conference call, "Since the government's recommendations on energy policy remain unclear, if nothing changes, all domestic coal plants will be shut down
in June 2020.
" ”
Spain's minority government, led by the People's Party, has been balancing the closure of uneconomical coal mines under EU state aid rules and ensuring security of supply and price stability
.
Bogas said rising carbon dioxide prices and the EU-led decarbonisation campaign meant the outlook for domestic coal plants was bleak
.
"We don't think it makes sense
to continue using domestic coal plants under the current market conditions and regulation.
"
Endesa's 5.
2GW coal power facility saw electricity generation from Endesa's 5.
2GW coal power facility fall 8 percent to 5.
3 TWh in the first quarter, driven by soaring
hydro and wind power generation, according to regulatory filings filed on Tuesday.
Jose Bogas, chief executive of Spanish power group Endesa, said Tuesday that by 2020 the company will completely shut down coal-fired power plants
fueled by domestic coal mining.
"Under current conditions, it is not economical to refurbish domestic (coal-fired) power plants unless payments are in place," Bogas told analysts on a conference call, "Since the government's recommendations on energy policy remain unclear, if nothing changes, all domestic coal plants will be shut down
in June 2020.
" ”
Spain's minority government, led by the People's Party, has been balancing the closure of uneconomical coal mines under EU state aid rules and ensuring security of supply and price stability
.
Bogas said rising carbon dioxide prices and the EU-led decarbonisation campaign meant the outlook for domestic coal plants was bleak
.
"We don't think it makes sense
to continue using domestic coal plants under the current market conditions and regulation.
"
Endesa's 5.
2GW coal power facility saw electricity generation from Endesa's 5.
2GW coal power facility fall 8 percent to 5.
3 TWh in the first quarter, driven by soaring
hydro and wind power generation, according to regulatory filings filed on Tuesday.
