A political scandal rocked the Northern Ireland assembly this week — at its centre an estimated £400mn overspend of the nation’s renewable heat incentive (RHI) subsidy scheme, funding for which will need to be taken from the province’s budget for the next five years.
When nuclear power plants fail, what is left to pick up the slack?
If you haven’t guessed from the headline, then I’ll let you know that it’s gas-fired power generation. And it’s helping to support LNG and pipeline gas prices.
Rising renewables generation across Europe has made it increasingly difficult for conventional natural gas and coal-fired power plants to make a profit. Countries have responded to the problem in different ways, with some introducing capacity mechanisms to support conventional plants, and others slowing the rate at which renewables capacity is installed.
We look at the situation across Europe to see where renewables have the most impact on the power market and investment in new plants.