Utilities unite to turn on gas power plants
It has been revealed that Gas and Electricity suppliers including E.ON AG and Centrica, along with additional European utilities, are planning to start at least 19 new gas-fired power plants this quarter. The power plants from Greece to Ireland will have the potential to reduce power and emissions prices whilst actually boosting gas demand.
Electricity producers are planning to add 9,364MW of natural gas-fired capacity in the three months leading to December, which is compared to five facilities, or 1,300MW, this year through to August – according to data from energy information provider McGraw-Hill Cos. Platts.
Gas plants are far cheaper to build and also emit around half the carbon dioxide of plants which are fired by coal – which is the most commonly used fossil fuel in power generation – a new combined cycle gas turbine plant in Europe costs between €600,000 and €700,000 per MW, the equivalent to half the price of a new coal-fired station.
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