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Spanish coal plants shut down, saying the economics aren’t worth it

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Report. Since 2018, the price of CO2 in the EU market has risen sharply, reaching a record €30 per ton in 2019, which has made it no longer profitable for large companies.

written by Lorenzo Pasqualini

Topic Climate change


July 2, 2020

More than six months after the COP25 climate conference in Madrid, Spain is making a leap forward in reducing greenhouse gas emissions. As of this week, as many as seven coal-fired thermal power plants are in the process of shutting down, almost half of the 15 active in the country.

The rapid closure of the coal-fired thermal power stations was requested by the operating companies, and was not a government decision. It was motivated by a combination of economic reasons and new Community policies. European regulations require an expensive modernization of coal-fired plants to make them less polluting, and on top of this, there is the increase in costs for companies emitting CO2 under the European Emissions Trading Scheme (ETS). Since 2018, the price of CO2 in the EU market has risen........

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