Berliner Boersenzeitung - Dutch join Germany, Austria, in reverting to coal

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Dutch join Germany, Austria, in reverting to coal
Dutch join Germany, Austria, in reverting to coal / Photo: Ina FASSBENDER - AFP/File

Dutch join Germany, Austria, in reverting to coal

The Dutch joined Germany and Austria in reverting to coal power on Monday following an energy crisis provoked by Russia's invasion of Ukraine.

Text size:

The Netherlands said it would lift all restrictions on power stations fired by the fossil fuel, which were previously limited to just over a third of output.

Berlin and Vienna made similar announcements on Sunday as Moscow, facing biting sanctions over Ukraine, cuts gas supplies to energy-starved Europe.

"The cabinet has decided to immediately withdraw the restriction on production for coal-fired power stations from 2002 to 2024," Dutch climate and energy minister Rob Jetten told journalists in The Hague.

The Dutch minister said his country had "prepared this decision with our European colleagues over the past few days".

Germany however said it still aimed to close its coal power plants by 2030, in light of the greater emissions of climate-changing CO2 from the fossil fuel.

"The 2030 coal exit date is not in doubt at all," economy ministry spokesman Stephan Gabriel Haufe said at a regular news conference.

The target was "more important than ever", he added.

- 'More countries being squeezed' -

Russia's invasion of its pro-Western neighbour has sent global prices for energy soaring and raised the prospect of shortages if supplies were to be cut off.

Russian energy giant Gazprom has already stopped deliveries to a number of European countries, including Poland, Bulgaria, Finland and the Netherlands.

Germany's reliance on Russian energy imports has made it particularly vulnerable as Moscow looks for leverage against the West.

The Dutch are less reliant, depending on Russia for around 15 percent of their gas supplies compared to the EU average of 40 percent. But they are still concerned.

"I want to emphasise that at the moment there's no acute gas shortage," Dutch minister Jetten said. "However, more countries are now being squeezed (by Russia). That worries us."

The Dutch government said it was also making an "urgent appeal" to companies and business to save as much energy as possible ahead of the winter.

Germany's decision to power up its coal power plants came after Gazprom cut deliveries to Germany via the Nord Stream gas pipeline last week.

The move, presented by Gazprom as a technical issue, has been criticised as "political" by Berlin.

German Economy Minister Robert Habeck, a Green party politician, described the decision to revert to coal as "bitter, but indispensable for reducing gas consumption".

- 'Unexpected situation' -

Austria's government meanwhile announced Sunday that it would reopen a mothballed coal power station because of power shortages arising from reduced deliveries of gas from Russia.

The authorities would work with the Verbund group, the country's main electricity supplier, to get the station in the southern city of Mellach back in action, said the Chancellery.

The European Commission noted Monday that "some of the existing coal capacities might be used longer than initially expected" because of the new energy landscape in Europe.

"We know that the energy mix and the plans of member states will adjust slightly because we are in an unexpected situation," Commission spokesman Tim McPhie said at a press briefing.

Germany, Europe's largest economy, has managed to reduce the share of its natural gas supplied by Russia from 55 percent before the invasion to 35 percent.

The government has also mandated the filling of gas reserves to 90 percent ahead of the European winter at the end of the year, to hedge against a further reduction in supply.

Germany's government, a coalition between the Social Democrats, Liberals and Greens, aims "ideally" to close all coal power plants by 2030.

Their agreement, reached at the end of last year, brought forward the previous government's aim to shut the plants by 2038.

burs-dk/jhe/jj

(A.Lehmann--BBZ)