Statkraft to shut down German gas plant

Norwegian power firm Statkraft is shutting down its 430 MW gas plant in the German city of Emden, it said, adding it would cut jobs and refrain from building a new plant at the location.

"Currently, the market does not send any signals that would suggest additional gas plant capacities are needed in Germany," Juergen Tzschoppe, Statkraft's managing director for Germany, was quoted as saying in a statement by Reuters.

"The financial crisis has led to a decline in demand for electricity. In addition, spot prices for gas are high while power prices are low; a clear signal for production overcapacities in Europe."

State-owned Statkraft is Europe's largest producer of renewable energy including hydro power, which provides nearly all of Norway's electricity.

For more gas power news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...