Awards in Germany's 3rd coal phase-out tender top 2.1 GW

Power plants in Germany with a combined capacity of 2,132.7 MW will receive compensation from the government to cease burning coal from October 31, 2022, as a result of a recent tended.

The Federal Network Agency, known in German as the Bundesnetzagentur (BNetzA), announced last week results from its third coal phase-out tender, which had a volume of 2,480.8 MW. The tender was undersubscribed and all bids received won compensation. For the first time, even the highest bids were awarded.

The power plants that participated have capacities of between 8.4 MW and 717 MW. The bid values ranged from zero to EUR 155,000 (USD 182,900) per MW and the volume-weighted average award was close to EUR 102,799 per MW.

STEAG GmbH, ONYX Power and Uniper will be shutting down big coal-fired power plants with support under the tender.

The difference between the successful bids and the tender goal will be taken into account when BNetzA is determining the volume for the next such tender, scheduled for October 1.

(EUR 1 = USD 1.180)

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