Is the EU headed for a power disaster???
Let's not fall into the same trap they are falling into...
The future of coal-fired power generation in Europe was called into question yesterday after a European Parliament committee backed new laws that would force power companies to pay for all of their carbon dioxide emissions from 2013.
The decision, which could cost the power industry €30 billion (£23 billion) a year and trigger a steep rise in electricity bills, represents a huge boost for Europe’s renewable energy industry. It also casts fresh doubt over the likelihood of a £1.5 billion coal-fired power plant being built at Kingsnorth, Kent, by E.ON, the German power group.
In addition, it flies in the face of British government policy. Last month, John Hutton, the former business secretary, told the Labour Party conference that “no coal . . . equals no lights. No power. No future.”
Chris Davies, an MEP who backed the legislation, said that the decision by the European Parliament’s environment committee “effectively prevents the building of new coal-fired power plants from 2015 unless equipped with CCS [carbon capture and storage technology]”. The new rules require final approval from the European Parliament and EU countries. If granted, they will transform the economics of burning coal to generate electricity.