Britain to become first G7 country to end coal power as last plant closes
By Susanna Twidale
LONDON, Sept 30 (Reuters) -Britain will become the first G7 country to end coal-fired power production on Monday with the closure of its last plant, Uniper’s UN0k.DE Ratcliffe-on-Soar in England’s Midlands.
It will end over 140 years of coal power in Britain.
In 2015 Britain announced plans to close coal plants within the next decade as part of wider measures to reach its climate targets. At that time almost 30% of the country’s electricity came from coal but this had fallen to just over 1% last year.
“The UK has proven that it is possible to phase out coal power at unprecedented speed,” said Julia Skorupska, Head of the Powering Past Coal Alliance secretariat, a group of around 60 national governments seeking to end coal power.
The drop in coal power has helped cut Britain's greenhouse gas emissions, which have more than halved since 1990.
Britain, which has a target to reach net zero emissions by 2050, also plans to decarbonise the electricity sector by 2030, a move which will require a rapid ramp-up in renewable power such as wind and solar.
“The era of coal might be ending, but a new age of good energy jobs for our country is just beginning," energy minister Michael Shanks said in an emailed statement.
Emissions from energy make up around three quarters of total greenhouse gas emissions and scientists have said that the use of fossil fuels must be curbed to meet goals set under the Paris climate agreement.
In April the G7 major industrialised countries agreed to scrap coal power in the first half of the next decade, but also gave some leeway to economies who are heavily coal-reliant, drawing criticism from green groups.
“There is a lot of work to do to ensure that both the 2035 target is met and brought forward to 2030, particularly in Japan, the U.S., and Germany,” said Christine Shearer, Research Analyst, Global Energy Monitor .
Coal power still makes up more than 25% of Germany's electricity and more than 30% of Japan’s power.
UK emissions by sector since 1990 https://tmsnrt.rs/4cHDrtf
Coal power as a % of Britain's electricity supply https://tmsnrt.rs/3XWFHI2
Coal as a % of electricity supply in the G7 https://tmsnrt.rs/4dtmmCK
G7 offers leeway to Germany, Japan in deal to quit coal by 2035 https://www.reuters.com/business/environment/g7-agree-deal-quit-coal-by-2035-with-caveat-2024-04-30/
Reporting By Susanna Twidale; editing by Mark Heinrich
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
