Germany turns to coal fired power

As reported by Bloomberg:
Image: Google Images
Germany’s largest utilities RWE and EON AG (EOAN) are shunning cleaner-burning natural gas because it’s more costly, while the collapsing cost of carbon permits means there’s little penalty for burning coal. Wind and solar projects, central to Germany’s plans to reduce nuclear energy and cut the release of heat- trapping gases, can’t produce electricity around the clock.
How far will the carbon credits collapse before Australia links to them?
Germany’s increasing coal consumption is part of a global return to the fossil fuel that’s cheaper than most alternatives.
Why then does Australia have  ner to the costliest power in the world?

POWER TRIP: Australian electricity price high, and to rise with carbon tax. (Link)

  • Charges 70 per cent higher than the American average
  • A figure that will grow to 160 per cent in two years
  • Exposes myth that Australian electricity is relatively cheap
h/t Benny Peiser

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