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

Coronavirus vaccine should be mandatory in Australia: PM

first_imgThe country already has “no jab, no play” rules that mean kids have to receive vaccines for diseases including polio and tetanus to enroll in kindergarten or school.But debate still rages about whether those rules impinge on personal freedoms, and hardline anti-vaxers flood online forums with conspiracy theories and misinformation about the risks.The coronavirus pandemic — which has killed more than 400 Australians — has coincided with a sharp uptick in online misinformation, speculation and opposition to vaccines — something experts have dubbed an “infodemic”. No effective vaccine for coronavirus has yet been released, although Morrison said he was optimistic one could be developed by early next year, with manufacturing taking just a few months more.”As soon as we get the recipe we’ll be making it,” he said. Anticipating a backlash from vocal anti-vaccine activists, Morrison said the stakes were too high to allow the disease to continue unchecked.”We’re talking about a pandemic that has destroyed the global economy and taken the lives of hundreds of thousands all around the world,” he said, while stressing the government has not yet made a decision.The Australian government estimates that up to 95 percent of the population would need to be immune to the virus for it to be eradicated.”We need the most extensive and comprehensive response to this to get Australia back to normal,” Morrison said, after announcing the vaccine would be free to all Australians. Australia should make any coronavirus vaccine compulsory for its 25 million citizens bar medical exemptions, Prime Minister Scott Morrison said Wednesday, wading into a heated ethical debate.After reaching a deal for the country to manufacture a “promising” vaccine being developed by AstraZeneca and Oxford University, Morrison said getting the jab should be “as mandatory as you can possibly make it”.”There are always exemptions for any vaccine on medical grounds, but that should be the only basis,” he told radio station 3AW in Melbourne.center_img Topics :last_img read more