December 31

Draft law would begin German hard coal phaseout in 2020

first_img FacebookTwitterLinkedInEmailPrint分享Platts:Germany plans to close 4 GW of hard coal-fired plants via a first annual compensation auction in June 2020, an energy ministry spokeswoman told S&P Global Platts Tuesday.Compensation for closures is to be awarded to bidders offering the lowest cost of avoided CO2 emissions with winning plants set to close after winter 2020/21. The federal grid regulator BNetzA is set to run the auctions, according to a second draft leaked Tuesday.The ministry is finalizing a hard coal exit law to cap hard coal capacity at 15 GW by end-2022. Assuming Datteln 4 comes online, Germany will have around 22 GW of hard coal capacity in operation as the compensation auctions get underway.The BNetzA is to establish exact volumes required to hit the 15 GW target depending on other closure applications, the outcome of various capacity reserve auctions and startup of Uniper’s 1.1 GW Datteln 4 plant. Commissioning of Datteln 4 is foreseen for summer 2020.Closure auctions thereafter are set to run annually until 2026, with hard coal capacity declining to 8 GW by end-2030.Details on 3 GW of lignite closures are expected at a later stage, with Eur40 billion ($44 billion) of support for lignite mining regions already approved. Germany plans to completely phase out coal by 2038.More: Germany plans 4 GW hard coal closure auction in 2020: draft law Draft law would begin German hard coal phaseout in 2020last_img read more

December 18

How Americans are spending all that extra money from lower oil prices

first_imgAs soon as oil prices plunged in 2014, economists argued that American consumers would win big.The thinking was that if folks were paying less money for gas, then they could either spend that money elsewhere or save it.In a recent note to clients, Societe Generale’s Aneta Markowska shared a chart detailing just how Americans’ spending has changed since June 2014 (when oil was over $100 per barrel), as well as how spending changed since 2007.Although US consumers have been saving a fair share of their newfound riches, Markowska estimates that households are now spending about two-thirds of the extra money from lower oil prices. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr read more

August 11

Go back to the enewsletter Sir Richard Bransons

first_imgGo back to the e-newsletterSir Richard Branson’s nine-bedroom chalet in Verbier, Switzerland, The Lodge is situated in one of the Alps’ most exclusive resorts and Europe’s best ski spots offering world-class skiing, fabulous après-ski as well as a dedicated team who will ensure every need is catered for this winter.Situated on a quiet road just 250 metres from the main ski lifts and backing onto one of the returning pistes, The Lodge is in a perfect location for the slopes. The ski area around Verbier includes 195 kilometres of marked pistes of all standards and of every exposure divided over the sectors of Les Ruinettes, Les Attelas, Savoleyres, Bruson and within the resort.For those looking to try something different, guests can go cross-country on snow shoes, or see Verbier from the air with a tandem paraglide. Or if guests fancy escaping to the mountains to recharge their batteries, they can take a dip in the indoor pool or venture outside and keep warm in the Jacuzzi, let off some steam in the steam room or relax and unwind with a treatment from the resident beauty therapist.The Lodge, part of the Virgin Limited Edition collection, can accommodate up to 18 adults in nine bedrooms and up to six children and young adults in a specially designed bunkroom. Rates during the winter season start from CHF 84,643 and are quoted for seven nights’ exclusive hire. Rates include breakfast and afternoon tea, as well as dinner on all but one night during the week, when guests are able to sample the best of Verbier’s culinary delights. All guests are encouraged to treat The Lodge like their own home and are welcome to help themselves to the drinks they would like at any time.Go back to the e-newsletterlast_img read more