The German group Uniper has recorded a net loss of EUR 492 million for the year 2018, against EUR 538 million a year ago, due to poor hedge charges and depreciation of its power plants, said Tuesday electrician. The loss “is mainly attributable to impairments of EUR 681 million on the Datteln 4 and Provence 4 power plants as well as on the gas storage portfolio in Germany,” said Uniper. The new German coal plant, Datteln (1.1 GW), has been delayed and is expected to be commissioned by mid-2020. However, it is unlikely that this unit will ever be operational due to the proposed exit of coal from a working group appointed by the government in January. In parallel, strikes continued to affect the production of its French plant Provence, which has recently been converted from coal to biomass.
Montel News 12th March 2019 read more »
Royal Dutch Shell, one of the world’s biggest oil and gas groups, is aiming to become the largest electricity company by the 2030s, as it prepares for a fundamental shift in global energy supplies towards lower-carbon sources. Maarten Wetselaar, Shell’s director of gas and new energies, told the Financial Times that the group could develop a power business, including supplying customers, trading and providing equipment, that was the same size as its oil or gas operations. Speaking at the CERAWeek conference in Houston, Mr Wetselaar said that if Shell achieved its goal for cutting its greenhouse gas emissions by 2035, “the amount of power – of clean power – we will need to be selling . . . will make us by far the biggest power company in the world”. Achieving its ambition would depend on being able to secure an acceptable return on capital of 8-12 per cent, he said, but added: “With our brand, our global presence . . . and the adjacency to our gas business – we can get our hands on the cheapest gas anywhere – we should be able to win.”
FT 13th March 2019 read more »