Coal news and updates

Germany seeks to award 699 MW in 6th coal phase-out tender

May 24 (Renewables Now) - Germany's Federal Network Agency has launched an auction aimed at shutting down coal-fired power plants across the country with a total capacity of 698.88 MW.

Proposals are expected by August 1, the regulator said on Monday.

The maximum price for the sixth round of the auction is set at EUR 98,000 (USD 104,458) per megawatt, down from EUR 107,000 in the previous round.

Earlier this week, the Federal Network Agency, known in German as Bundesnetzagentur, said that it had accepted six bids totalling 1,015 MW in the fifth round of the tender. The plants will be shut down by May 27, 2024 and receive compensation from the federal government.

Until then, the six power plants will continue to ensure the power supply for many households and if any of them is deemed system relevant, it could continue to be available in the grid reserve beyond 2024.

(EUR 1 = USD 1.066)