Power-Profit Slide Threatens German Gas-Plant Closures
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The biggest losses since at least 2009 from burning natural gas to generate electricity in Germany are threatening to provoke a wave of power-plant closures in Europe’s biggest economy.
As much as 6,400 megawatts, or 25 percent of the nation’s gas-plant capacity, will shut in the five years through 2015, according to Deutsche Bank AG. Companies may close as much as 10,000 megawatts of gas and coal stations by 2014, UBS AG said on Feb. 20. Statkraft SF, Norway’s biggest utility, supplied the last power from its Emden gas plant in Germany during freezing weather Feb. 14, the Oslo-based generator said last month.