The Netherlands is to close all coal plants by 2030

Source: Lonely Planet

This week, The Netherlands introduced legislation to close all coal-fired power stations in Holland by 2030.  From PV Magazine:

The news will come as a blow to three utilities that as recently as 2015 commissioned three coal plants in the Netherlands – the newest in Europe – but will be welcomed by clean energy advocates across Europe.

Engie, RWE and Uniper each invested heavily in Dutch coal plants completed in 2015, but now all three utilities will likely suffer massive losses on the write downs made on these coal plants, said Gerard Wynn, analyst at the Institute for Energy Economics and Financial Analysis (IEEFA).

“The impairments reflect the impact of massive growth in renewable power in neighboring Germany, which has depressed wholesale power prices, and the utilities having failed to foresee flat or falling electricity demand,” Wynn said.

Wynn added that the announcement by the Dutch government highlights the risks involved with investing in new or existing coal-fired power generation facilities in Europe, with the Netherlands now joining a growing band of EU nations that are pursuing accelerated coal phase-out plans.

“This, combined with the rise of renewables and the impact on demand of improved efficiency, puts old electricity production models at risk,” Wynn said.

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