Enel head of global power generation says company’s coal exit will happen faster than expected

first_imgEnel head of global power generation says company’s coal exit will happen faster than expected FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Italian utility Enel SpA will likely close its remaining coal-fired power stations around the world faster than anticipated, with worsening economics for the fuel leading to billions in write-downs and making an even stronger case to replace capacity with gas-fired plants and renewable energy.The company is still one of the largest owners of coal plants among European utilities and last month was placed on a watchlist by Norway’s $1 trillion sovereign wealth fund for falling foul of new environmental guidelines, which require companies to own less than 10,000 MW of coal capacity.But Antonio Cammisecra, head of global power generation at Enel, said in an interview that the company expects to reach that milestone by the end of this year — likely accelerating Enel’s eventual exit from coal, tentatively planned for 2030.Enel now wants to close its last coal plant in Chile several years ahead of schedule, after which it will have only one small Colombian unit left in Latin America. In October, the company sold its last coal plant in Russia. “We’ll do it faster than we expected just one year ago,” Cammisecra said. “No doubt, by 2025, Enel will be out of coal in Italy and, mostly, around the world.”The rest of its coal stock, roughly 11,000 MW in all, is in Europe: In Italy, the company just got permission to close a 660-MW unit at its plant in Brindisi, while two of its five remaining plants in Spain also have the green light for decommissioning.“It must be done. And the quicker we do it, the better for everybody,” Cammisecra said. “We’re basically not burning coal right now … and this is not a temporary factor,” Cammisecra said, pointing to increasing generation from wind and solar, cheap gas and a tightening emissions market in Europe, which are all eating into margins for coal. “I think this [dynamic] is here to stay,” he said. “So better to close these plants now.”[Yannic Rack]More ($): Enel eyes faster coal exit as worsening economics ‘here to stay’last_img read more

Brisbane housing growth rate to double next year to mirror Sydney

first_imgAmenities like Streets Beach in the South Bank Parkland a major drawcards to the Brisbane inner city. Picture: Supplied.BRISBANE’S dwelling price growth is expected to mirror that of Sydney next year, with new forecasts seeing the city more than double its pace to a high of 7 per cent.The projections came off the latest SQM Boom & Bust Report, released Thursday, which also dispelled fears of a property crash in Sydney and Melbourne.“Brisbane’s property market will experience slightly stronger gains than those posted in 2017,” said SQM housing expert Louis Christopher, “with property prices forecast to rise between 3 per cent to 7 per cent.”What was holding Brisbane back from a higher rate of housing price growth was “the persistent overhang of surplus property listings”, he said.The report also eased fears of a deep housing correction in Sydney and Melbourne, crediting the actions of regulators to rein in rampaging investor borrowing for those cities’ survival. More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day agoBrisbane is expected to see its housing growth go as high as 7 per cent next year. Picture: AAP Image/Claudia Baxter.“The authorities were right to take action earlier this year to restrict investing lending by banks. Failure to have taken action would have resulted in out-of-control Sydney and Melbourne housing markets, where additional aggressive monetary policy may well have triggered a large fall in dwelling prices in 2018,” he said.The forecasts assumed that there would be no change in interest rates next year, a stable exchange rate and that existing restrictions by APRA on investment lending remained in place. BUYING: Affordability takes a hit though apartments cheaper AFFORDABLE: Unlikely Brisbane property hot spots Sydney was expected to grow between 4 to 8 per cent next year, while the highest growth was expected out of Hobart (ranging between 8 to 13 per cent) followed by Melbourne (7 to 12 per cent).Mr Christopher said in the 12 months to September the capital city average growth was 8.5 per cent, led by Hobart (14.3 per cent), Melbourne (12.1 per cent), Sydney (10.5 per cent, Canberra (7.8 per cent), Adelaide (5 per cent), with Brisbane showing the lowest positive growth in the period of 2.9 per cent.Perth (-2.9 per cent) and Darwin (-4.7 per cent) were the only capitals in the negative for the 12-month period. *FOLLOW SOPHIE FOSTER on Twitter or Facebook FREE: Get The Courier-Mail’s real estate news direct to your inboxlast_img read more

EURO Playoff Match between Bosnia and Herzegovina and Northern Ireland to be postponed?

first_imgThe management of the Football Federation of Bosnia and Herzegovina has officially sent a letter on Thursday to UEFA requesting to postpone the play-off match for EURO 2020 between the national teams of BiH and Northern Ireland, which according to the competition calendar is to be played in Zenica on 26th March.Among other things, the letter stated that the situation with the spread of coronavirus in our country tends to become more serious, and that the relevant institutions at the state level have already taken appropriate measures. These measures include banning public gatherings, holding sporting events as well as banning entry into the country for citizens of Italy, Germany, France, Spain, Iran, Korea and China.The FF BH further informs UEFA that all BH nationals coming from these areas must be subject to a mandatory 14-day quarantine as well as self-isolation if they come from other areas where COVID19 has occurred. This means that most of our players would not be able to play the play-off match, and the FF BH is asking that once again all the risks that would arise in the event of playing this match should be considered.The letter finally emphasizes that the Federation is in constant contact with the relevant state institutions, and that all activities of the FF BH are in accordance with the recommendations and decisions of these institutions.last_img read more