Verbund CEO: action needed to boost gas-fired power

The head of Austria’s biggest utility says Europe needs to use a carbon floor price to boost gas-fired power plant profits.

Wolfgang Anzengruber of Verbund said, “With carbon prices at record lows, there is no incentive to run a gas-fired plant. Operators need an emissions price of around 35 euros a metric ton to produce power from a gas plant rather than from a coal plant.”

Wolfgang Anzengruber
  Rising carbon prices will push up the cost of coal-fired power generation, boosting the incentive to operate cleaner gas-fed stations, Anzengruber added, saying “I personally expect that some EU countries will implement an emissions price floor similar to the one we have in the UK. But it is hard to say when, as it is a political decision.”

 Verbund will decide by the middle of next quarter whether to close its 848 MW gas plant in Mellach, Austria, which only started producing power in July 2012.

 In Germany, the opposition Green party wants to introduce a floor of around 15 euros a ton if they win the country’s Sept. 22 elections, according to Bloomberg.

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