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.


Poland prepares a new blow to Russian gas supplies to Europe

15/05/2020 10:42:00

Russian gas giant Gazprom continues to face problems in the European gas market, where demand and prices have collapsed and volume of gas in storage has reached a historic record, repots


Daily (15.05.2020): Crude oil prices rebounded on Thursday amid a less pessimistic oil supply picture unveiled by IEA

15/05/2020 10:40:00

Crude oil futures surged on Thursday after the IEA unveiled a tightening supply picture in the second half of 2020. Moreover, an unexpected drop in U.S. crude stocks also lent support to prices. Hence, Brent crude soared by $1.94, or 6.7%, to settle at $31.13 a barrel, while the U.S. WTI crude rallied by $2.27, or 9%, to end at $27.56 a barrel.


Lithuania eyes 700MW offshore wind zone that could meet 25% of its power needs

15/05/2020 10:34:00

Lithuania’s energy ministry has submitted a government decree for public consultation on the location of a 700MW wind array off its coast that could provide up to a quarter of the small Baltic nation’s electricity needs.