Electricity producers in Europe have asked Russia for additional supplies of coal. This was reported by Bloomberg on Thursday, September 30.
At present, European gas storage facilities are only partially filled, and renewable energy sources are unable to meet demand.
“If all European utilities switch to coal, it will lead to a huge increase in demand for coal, which Russia itself cannot supply in such a short time,” said Natalia Tyurina, chief analyst at Wood Mackenzie Ltd. in Houston.
Tyurina added that this would require supplies from other countries, such as the United States, but the situation there is similar to that in other countries.
In addition, European countries’ dependence on fossil fuels to support their economies greatly complicates climate negotiations, as Glasgow has only a few weeks left before COP26.
We will remind that earlier the price for coal in Europe reached a maximum for 13 years. The increase in the cost of coal is due to a sharp rise in gas prices – demand from power plants and utilities has grown.
It was also reported that the price of gas in Europe approached $ 1,200. Natural gas prices continue to rise amid record low stocks in Europe ahead of the heating season.