Money Buzz! Europa

Tag: electricity consumption

  • Sweden to give a 583 million euros aid to households

    Sweden to give a 583 million euros aid to households

    Swedish government announced on Wednesday that it will give 6 billion SEK (583 million euros) to help households ”hit” by high electricity prices.

    Over 1.8 million households across the country will benefit from this plan, according to government calculations, EFE says.

    The compensation will be based on the electricity consumption of each Swedish household from December, January and February.

    Those who exceed a 2,000 KWh consumption will receive a maximum of SEK 2.000 per month (194 euros).

    Money will be distributed automatically to the most affected households, without the need to apply for aid.

  • Czechia could stop using coal for electricity production in 2038

    Czechia could stop using coal for electricity production in 2038

    A special unit set up by the Czech government recommended that the country to stop using coal in 2038, DPA reports.

    2038 is a compromise solution, said the Czech Minister of Industry, Karel Havlicek, during the presentation of the final report, adding that two other possible dates were discussed: 2033 or 2043.

    Environmental NGOs have called for faster disposal of fossil fuels and doctors have signed a petition warning of the consequences of air pollution.

    Environmental activists who have been picketing the Czech Ministry of Industry and Environment since November 16 have called for the removal of coal by 2030 at the latest.

    Currently, coal-based power plants are responsible for 50% of electricity production in Czechia.

    Coal is to be replaced by renewable energy sources as well as current and new nuclear reactors.

  • Polish government to restructure the utilities and mining sector

    Polish government to restructure the utilities and mining sector

    Polish government seeks to restructure the utilities and mining sector with a view to balancing environmental and social aspects, Moody’s latest report shows.

    The recent agreement between mining unions, the state and the largest miner, PolskaGrupaGornicza (PGG), heralds an end to domestic coal mining by 2049 as a precedent of state support is set.

    Solar power is growing strongly from a small base thanks to subsidies for households. Offshore wind is expected to start generating electricity from 2025 onwards.

    75% of Polish electricity was generated by coal and lignite in 2019

    Polish utility sector has a high reliance on coal and lignite, with around 75% of electricity generated from these fuels in 2019.

    Carbon intensity of Poland’s GDP has fallen 40% over the past decade, but is still higher than other EU countries.

    The National Energy and Climate Plan to 2030, submitted to the EU Commission, foresees a gradual reduction of coal and lignite fuels.

    The latest draft of the Polish Energy Plan 2040 foresees the share of coal in electricity generation at 37%-56% in 2030 and 11%-28% in 2040. Solar installations and offshore wind will be the main replacements.

    In the first eight months of 2020, electricity consumption in Poland declined by 4.4% from a year earlier, whereas generation fell by 7.2%.

    The decrease in power generation was disproportionately borne by coal and lignite plants, where output fell by 12.9% and 11.5%, respectively.

    Poland’s interconnection capacities with its neighbours have increased since 2015, resulting in cheaper wind and hydropower from Germany, Sweden (directly and via Lithuania) as well as nuclear power from the Czech Republic competing in the Polish market.

    More capacity will be added through the Baltic Synchronisation project, which will synchronise the Baltic countries’ grids with Western Europe, with Poland serving as an important gateway.

    No offshore wind before 2025 at the earliest

    Initial Polish offshore wind capacity is planned to come online from 2025.

    The government has therefore sped up its efforts to pass a legislative framework for offshore wind installations, which we expect to come into force by early 2021.

    Large utilities have started to team up with experienced European developers, such as EquinorNew Energy(Baa1 negative), Iberdrola(Baa1 stable) and Orsted (Baa1 stable).

  • EU electricity consumption down by 10.5% in May 2020

    EU electricity consumption down by 10.5% in May 2020

    Eurostat May data show lower electricity consumption in most Member States. The total EU electricity consumption in May 2020 was 10.5% lower than the lowest May value recorded between 2016 and 2019.

    Electricity consumption in May 2020 showed very low levels in a number of countries, in particular in Spain and Poland (both -13.7% compared with May 2019), Slovenia (-13.4%), Croatia (-11.9%), Romania (-11.8%) and Portugal (-11.6%).

    A further nine Member States showed reductions of 5% to 10%, while for six Member States the drop was between 1% and 5%.

    In two Member States (Bulgaria and Latvia) the situation was stable (+/- 1%), while in the remaining four Member States electricity consumption grew.