First German coal closure auction oversubscribed as utilities look to exit uneconomic sector

Read the full story at IEFFA.

RWE AG was the major winner in Germany’s first tender for shutting down hard coal-fired power plants, taking two-thirds of the compensation handed out by the government, as strong competition elsewhere drove average prices down to well below the maximum available.

RWE and Vattenfall AB both secured contracts for closing two power plants each, while Uniper SE successfully bid one of its assets, according to results published Dec. 1 by Germany’s grid regulator, BNetzA.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.