Posted on 10/04/2022 6:48:49 AM PDT by Oldeconomybuyer
Germany's largest power producer RWE said on Tuesday it is bringing forward its coal phase-out by eight years and is ready to end lignite-based electricity generation in 2030 as part of a deal reached with the government.
However, faced with a Europe-wide energy crisis after Russia slashed gas deliveries following its invasion of Ukraine, RWE said it would temporarily boost its use of power plants fuelled by heavily polluting lignite, or brown coal.
"In the current crisis, we are contributing to security of supply in Germany by temporarily increasing the use of our lignite-fired power plants, and are thus also helping to displace gas from electricity generation," Chief Executive Markus Krebber said in a statement.
"At the same time, we are investing billions of euros to accelerate the energy transition and are ready to phase out lignite by 2030," he added.
Krebber said the company would not request additional compensation for moving the phase-out date forward beyond the 2.6 billion euros ($2.6 billion) it was promised under the previous plan.
(Excerpt) Read more at france24.com ...
“Tremendous opportunity...”
RWE is invested heavily in the Texas wind farms. They took a bath in the February freeze a couple years ago.
These people do not deserve our sympathy. Let them freeze while they pat themselves on their backs for being good climate warriors.
What utter fools. We had better not ship them one unit of LNG or oil from our reserves.
The deal with the devil..I mean government. $$$?
Where did that stereotype of Germans being smart come from? There’s no evidence of it.
Ahhhh Germany.....all the wrong moves.
Coal companies....smiles all around. Germany will come around and realize that Climate Change is a farce...that the atmosphere is not measurable for conditions which will occur in the future. Just a created red herring.
Yeah, then what??? Freeze???
Why wait???save the world this afternoonâŚturn those smoke wagons offâŚcâmon man
RWE is announcing they're having to use more fossil fuel to generate power, which makes their leftist leaders mad. Thus it's incumbent on them to "soften" the announcement by saying they're committed to getting away from fossil fuels long term.
So much for the dark-to-spark ratio.
Just astonishing. Nobody learns anything. They just wonât stop their collision course with economic disaster.
Kind of figured that’s what they have to do. In Germany or now America.
Stall for time..pretend to play along..and hope a sane person gets back in power.
You think Americans are any smarter?
I think you've nailed it.
Take that, Putin!!!
“We had better not ship them one unit of LNG”
That is the problem. The LNG being produced on the east coast of the US is worth more shipped to Europe than it is to somewhere in the US such as Boston. Therefore, Eversource(the largest electric utility in New England) had to ask for a rate increase because their coast of natural gas has gone up so much in the last two years.
Once that LNG is loaded onto a ship in Baltimore or Houston the freight cost to ship it to Europe vs the east coast of the US is not that big of a difference. Yet the value in Europe is about 4x the value in the USA.
Massive power shortages and they plan to phase out power ,LOL
“They just wonât stop their collision course with economic disaster.”
I think they won’t collide with economic disaster because, like right now, they’ll always have a reason to ‘temporarily’ keep the old plants alive.
Their biggest act of stupidity was/is being dependent on Russian oil and natural gas, or is it only natural gas?
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