Low gas prices, warm weather pushing coal out of European generation market

first_img FacebookTwitterLinkedInEmailPrint分享Bloomberg:Cheaper natural gas prices this year are likely to cement Europe’s shift away from coal as a fuel for producing power.Abnormally mild winter weather has cut demand for the fuel as a flood of new supplies entered the world’s biggest gas market. That along with higher costs for carbon-emissions allowances has tilted the economics of generating electricity away from coal and toward using more gas.“Policy makers in Europe are now happy with such low natural gas prices,” said Ewout Eijkelenboom, senior consultant at the Netherlands-based industry adviser Kyos Energy Consulting. “It makes the coal phase-out easier than expected — it is almost a natural way of exiting coal.”Falling gas prices are a global phenomenon. Liquefied natural gas projects are pumping out record numbers of cargoes, cutting wholesale gas costs from the U.S. to Asia. That in turn has helped push down the cost of electricity across Europe, taking some of the heat out of the political debate about energy.Benchmark gas in Amsterdam plunged to a five-month low last week because of the global glut. Market rates for the coming summer are at the lowest since at least 2007. It’s especially notable that the weakness has arrived during the winter, which is peak-demand season.“We’ll need to do something with all that surplus gas,” said Elchin Mammadov, a European utilities analyst at Bloomberg Intelligence. “I’m expecting a further drop in prices and more coal-to-gas switching.”[Vanessa Dezem and Mathew Carr]More: Cheap natural gas is about to kick more coal out of Europe Low gas prices, warm weather pushing coal out of European generation marketlast_img read more

Hope Island canal-front community attracts huge interest

first_imgFrasers Property Australia has released its final four dry lots of land at Cova, the $225 million masterplanned community on Hope Island.THE final four dry lots at Cova, a $225 million masterplanned community on Hope Island, have been released.They start from $325,000 and are all 338sq m, with the flexibility to choose a builder and home design.The lots suit a two-storey home with up to four bedrooms, three bathrooms and a double lockup garage.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North6 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoThe canal-front community has a state-of-the-art marina, built by industry leaders Bellingham Marine, and more than 7ha of parkland.Frasers Property Australia has released its final four dry lots of land at Cova, the $225 million masterplanned community on Hope Island.There are now 900 residents with more than 395 lots and townhouses.Frasers Property Australia general manager residential Queensland Cameron Leggatt said Cova’s evolution as an established masterplanned community was enticing buyers attracted to the relaxed waterfront lifestyle on offer.“Together with the convenience of nearby shopping, dining, medical, childcare and golfing amenities, Cova presents a complete and attractive waterfront community with everything you need at the doorstep and only five minutes to the M1,” Mr Leggatt said.last_img read more