EU energy companies pledge no new coal-fired plants from 2020

The European power sector is determined to play a key role in providing clean energy for all Europeans and make electricity a central energy carrier for the low carbon economy.

That is the message emerging from a meeting of EURELECTRIC’s Board of Directors on 23 March 2017, where the sector agreed its joint position on the Clean Energy Package.

In a statement adopted by the Board of Directors, the sector reiterates its commitment to deliver on the Paris Agreement. In addition, it announces its intention not to invest in new-build coal-fired power plants after 2020.

“The power sector is determined to lead the energy transition and back our commitment to the low carbon economy with concrete action,” said EURELECTRIC President and CEO of the Portuguese energy group EDP, António Mexia.

“With power supply becoming increasingly clean, electric technologies are an obvious choice for replacing fossil fuel based systems for instance in the transport sector to reduce greenhouse gas emissions,” he added.

This transition in the power sector requires a coherent regulatory framework with complementary and clearly targeted policy instruments as well as a balance between incentives and protection for investors.

Speaking at a press event this morning, EURELECTRIC Secretary General Kristian Ruby explained that the sector is already leveraging investments to reduce GHG emissions. He urged policy makers to go for a balanced, market-based approach to the energy transition:

“The challenge for policy makers in the next two years will be to target the political instruments, ensure that they are complementary and advance decarbonisation and electrification at the same time".

Read the article online at: https://www.worldcoal.com/power/06042017/eu-energy-companies-pledge-no-new-coal-fired-plants-from-2020/