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The Netherlands has announced that it will ban coal for power generation from 2030 and requires that the country's two oldest coal plants must be closed
by the end of 2024.
Europe's power sector is undergoing dramatic changes
as onshore and offshore wind and renewable energy sources such as solar photovoltaics continue to share the market.
When the UK closes all its coal plants by 2025, the most high-profile coal takes a hit
.
Of course, coal market share has steadily declined
over the past few years due to increased renewable energy capacity and rising natural gas and coal prices.
Just last month, the UK did not use or need any coal for 76 hours
.
Germany also announced this year that it wanted to phase out coal in early 2019, and Finland announced later in 2016 that it intended to ban all coal
by 2030.
In addition, according to the Carbon Tracker Initiative report released last December, 54% of European coal-fired power plants are losing money, and this figure will rise to 97%
by 2030.
So it should not really come as a surprise
that the Netherlands' Minister for Economic Affairs and Climate Eric Wiebes announced last week that the Netherlands will ban the use of coal in all electricity production from 2030.
More specifically, all coal-fired power plants will close by 2030 at the latest, while the two oldest plants, Hemweg and Amer, must close
by the end of 2024.
Gerard Wynn, energy finance adviser at the Institute for Energy Economics and Financial Analysis (IEEFA), speaking via email, said: "The Dutch phase-out decision is particularly striking because three of them are brand new
.
This is the final warning from investors about new coal and coal power delays in Europe
.
It adds to coal phase-out schemes in the UK, Italy, France, Finland and Portugal, as well as headwinds in other coal power markets, notably rising carbon prices and the growth of
renewables.
”
The coal ban is part of
the Netherlands' efforts to reduce its carbon dioxide emissions by 49% by 2030.
In addition, just last week, the EU formally adopted greenhouse gas reduction targets for 2021 to 2030, which will reduce EU emissions by 30%
overall, although these targets vary from country to country.
The Dutch government has advised the remaining coal-fired power plants to make their plants suitable for new electricity production
by other means or other fuels, such as sustainable biomass, in the meantime.
The Netherlands has announced that it will ban coal for power generation from 2030 and requires that the country's two oldest coal plants must be closed
by the end of 2024.
Europe's power sector is undergoing dramatic changes
as onshore and offshore wind and renewable energy sources such as solar photovoltaics continue to share the market.
When the UK closes all its coal plants by 2025, the most high-profile coal takes a hit
.
Of course, coal market share has steadily declined
over the past few years due to increased renewable energy capacity and rising natural gas and coal prices.
Just last month, the UK did not use or need any coal for 76 hours
.
Germany also announced this year that it wanted to phase out coal in early 2019, and Finland announced later in 2016 that it intended to ban all coal
by 2030.
In addition, according to the Carbon Tracker Initiative report released last December, 54% of European coal-fired power plants are losing money, and this figure will rise to 97%
by 2030.
So it should not really come as a surprise
that the Netherlands' Minister for Economic Affairs and Climate Eric Wiebes announced last week that the Netherlands will ban the use of coal in all electricity production from 2030.
More specifically, all coal-fired power plants will close by 2030 at the latest, while the two oldest plants, Hemweg and Amer, must close
by the end of 2024.
Gerard Wynn, energy finance adviser at the Institute for Energy Economics and Financial Analysis (IEEFA), speaking via email, said: "The Dutch phase-out decision is particularly striking because three of them are brand new
.
This is the final warning from investors about new coal and coal power delays in Europe
.
It adds to coal phase-out schemes in the UK, Italy, France, Finland and Portugal, as well as headwinds in other coal power markets, notably rising carbon prices and the growth of
renewables.
”
The coal ban is part of
the Netherlands' efforts to reduce its carbon dioxide emissions by 49% by 2030.
In addition, just last week, the EU formally adopted greenhouse gas reduction targets for 2021 to 2030, which will reduce EU emissions by 30%
overall, although these targets vary from country to country.
The Dutch government has advised the remaining coal-fired power plants to make their plants suitable for new electricity production
by other means or other fuels, such as sustainable biomass, in the meantime.
