Greece and Hungary to phase out coal by 2028 and 2030 respectively

25/09/2019 09:10 Coal


Greece and Hungary have announced they plan to phase out coal-fired electricity generation by 2028 and 2030 respectively.

At the UN Climate Action Summit in New York, the Greek Prime Minister and Hungarian President said their nations will rid themselves of the polluting fossil fuel to help reduce emissions and tackle climate change.


Greece’s power mix has historically relied heavily on coal and a new lignite plant scheduled to operate past 2050 is currently being built.


Prime Minister Kyriakos Mitsotakis plans to unveil its strategy of how this will be achieved by the end of the year.


Hungarian President János Áder also announced plans to phase out the nation’s coal-powered electricity production by 2030, while Slovakian President Zuzana Čaputová said her country has made a “politically unthinkable decision to close our coal mines” which she says will “need a serious transformation of our country”, with subsidies forecast to end in 2023.


Daily (12.11.2019): French spot power price surged by over 16% on forecasts for higher demand amid colder weather

12/11/2019 11:17:00

Oil prices dropped on Monday due to a lack of direction in the U.S- China trade negotiations. Hence, Brent crude closed 0.5% lower at $62.18 a barrel, while WTI futures fell by 0.7% to $56.86 a barrel.


Mongolia exports 32.3 million tons of coal as of first ten months

12/11/2019 10:35:00

Mongolia planned to export 42 million tons of coal in 2019. According to statistics of Mongolian General Customs Administration, Mongolia has exported 32.3 million tons of coal as of first ten months of 2019 which means there is a necessity to export 9.7 tons of coal in order to reach the goal. But the People’s Republic of China appears to maintain its coal import at 200-300 million tons so that the amount of coal export has a tendency to slow down in the last months of 2019 according to Bloomberg.


NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25:00

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.