Coal is the most CO2-emitting fossil fuel. Read more at straitstimes.com.
LUXEMBOURG - European Union countries failed on Monday to agree on planned new rules for the bloc’s power market, having clashed over a proposal to extend subsidies for coal plants as part of the reform intended to increase the use of low-carbon power.
Countries including Austria, Belgium, Germany and Luxembourg had objected to the proposal on coal subsidies, saying it wouldThe draft proposal, seen by Reuters, would allow existing capacity mechanisms to temporarily waive a CO2 emissions limit - enabling coal plants to participate - if they fail to attract enough lower-carbon generators, and if the European Commission approved the exemption.
Poland, which gets around 70 per cent of its power from coal, could prolong its support scheme for coal plants beyond 2025 under the proposal. The latest version of the proposal had said a country must also assess the impact on its climate change goals.The proposed EU power market reform aims to make power prices more stable and predictable, by putting new state-backed renewables and low-carbon nuclear plants onto fixed-price contracts for difference.
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