Study: Billions in losses across European coal generation industry this year

first_imgStudy: Billions in losses across European coal generation industry this year FacebookTwitterLinkedInEmailPrint分享PV Magazine:Around 79% of the European Union’s coal power fleet runs at a loss, and will burn through €6.57 billion this year.Economics thinktank Carbon Tracker used asset-level financial models to analyze the operating economics of every coal plant in the EU. The resulting analyst note – “Apocoalypse Now” – not only had a title to make pv magazine’s editors jealous, but exposed the idea of coal being the cheapest energy source.Carbon Tracker analysts estimated 84% of lignite and 76% of hard coal generation capacity is operating at a loss in the political bloc, and the two forms of fossil fuel generation could lose €3.54 billion and €3.03 billion, respectively, this year. Against ‘relentless’ competition from solar and wind power, the financial case for coal is becoming incrementally worse, according to data provided by Carbon Tracker. In 2017, the report stated, ‘only’ around 46% of EU coal generators ran at a loss.The authors sourced data from the European Network of Transmission System Operators for Electricity, and from energy transition thinktank Agora Energiewende to generate assumptions about the costs associated with coal power plants.The coal industries most exposed to financial risk this year are in Germany (which could lose €1.97 billion), Spain (€922 million) and Czechia (€899 million), according to the study. The utilities facing the stiffest coal-related losses are Germany’s RWE (€975 million), Czech energy company EPH (€613 million) and Greece’s PPV (€596 million).More: European coal fleet will run at a loss of €6.57bn this yearlast_img read more

Working from home could become new normal post-pandemic

first_img“Energy expenses to power office buildings have certainly declined with the introduction of the work-from-home policy. However, we are also investing more in the technology to support the smooth running of the policy,” PT Unilever Indonesia human resources director Willy Saelan told the Post in a written statement.The publicly listed consumer goods giant reported no loss in productivity since implementing the policy on March 16. And in line with the goal of maintaining productivity, the company allowed its employees to borrow its ergonomic chairs to be used at home.It has also adopted a number of initiatives to ensure the well-being of its employees, including holding a regular health talk with the company’s doctors, conducting online classes on healthy living and providing around-the-clock online psychological services for those who may be experiencing anxieties during the outbreak.Homegrown agritech start-up TaniHub, whose online grocery platform has experienced significant growth amid the outbreak, reported that its travel expenses had reduced by 50 percent since it implemented the work-from-home policy in its headquarters in Jakarta on March 18, TaniHub Group finance director Edison Tobing reported.“TaniHub Group management is currently considering the implementation of a flexible working space system or a work-from-home system post-outbreak as a form of benefit for employees,” TaniHub Group vice president of corporate services Astri Purnamasari told the Post on Friday.For companies that have made an early investment in digital technology, including TaniHub, they are now seeing the benefits manifest.“As a technology-based company, working from home is something that all Shopee employees are accustomed to doing,” said Shopee public relations lead Aditya Maulana Noverdi.The e-commerce platform reported a business-as-usual scenario in its company’s operations, from campaigns to shipping, despite the outbreak.State-owned telecommunications firm Telkomsel is also feeling the benefit of the digital transformation processes it had implemented prior to the outbreak, Telkomsel vice president of corporate communications Denny Abidin noted.Telecommunications firm Indosat Ooredoo, on the other hand, has been using a flexible working arrangement program called iWork since 2016. Employees are allowed to work remotely every week, wherever they please.Indosat Ooredoo director and chief human resources officer Irsyad Sahroni explained that several technical adjustments needed to be made during the ongoing outbreak, but the implementation of remote work had so far resulted in an overall increase in the company’s performance.According to a 2019 report by brand consultancy firm Buffer, of over 2,400 people it surveyed from across the globe, two out of five said the biggest benefit of remote work was having a flexible schedule.Tadjudin Noer Effendi, a labor expert from Yogyakarta-based Gadjah Mada University, said that if companies continued to implement remote work after the pandemic, they would not only be able to reduce productivity loss due to traffic congestion, but also other costs as a result of the policy, including expensive office rent and childcare services, he said on Friday.Nonetheless, he sounded a note of alarm that there would be “a great overhaul”, as the increase in productivity on one end could potentially lead to less employment on another.He also questioned whether the majority of the workforce could still perform while not being supervised.Research firm Accenture, however, said in a 2017 report on digital transformation that such concern was based on a myth, as in workplaces where employees were empowered to choose when and where they worked, their anxieties were reduced and productivity increased. This article is part of The Jakarta Post’s “Forging the New Norm” series about how people are adjusting to the new realities of COVID-19 in Indonesia.Remote work has been a growing trend with the rise of the gig economy, but the COVID-19 pandemic has brought it into the mainstream faster than many people initially expected.After approximately two months of implementing a work-from-home policy as an effort to prevent the spread of the novel coronavirus, companies are reporting the benefits of remote work and some are gearing up to practice it for the long term. Indonesian Employers Association (Apindo) deputy chairman Bob Azam told The Jakarta Post on May 15 that it would be quite logical for companies to extend their work-from-home policy or adopt some form of flexible working arrangement after the pandemic.“I think it’s quite logical, considering that during a recovery period, we need to carry out safety protocols and continue social distancing measures, aside from other new procedures,” he said, adding that companies would most likely open their office spaces for only 50 percent of their workers to abide by health protocols.He explained that companies’ investment in digitizing their workplaces would be an added cost, but that the cost could be covered by cost-savings on other fronts. With office buildings remaining vacant, utility costs could be significantly reduced, saving enough to pay for the digitization agenda, he said.The Post interviewed executives of a number of companies across different sectors to ask them whether they had seen any benefits during the work-from-home program in the past couple of weeks and whether they were planning to implement some form of remote work post-pandemic.center_img Topics :last_img read more

Tidal kite’s controls up for update

first_imgSwedish tidal energy developer Minesto is tendering for the procurement of Kite Control Modules for its Deep Green tidal energy technology.Minesto is looking for a supplier of hardware for an updated version of the first generation Kite Control Module (KCM), run by the company for a number of years.The scope of supply includes design and fabrication of a number of prototype units for test and evaluation in test rigs and Minesto devices, the company said.Minesto plans to integrate and verify the updated KCM in the DG500 device to be installed in Holyhead Deep, Wales.“We want the next-gen KCM to be designed for production in high volumes,” Minesto’s spokesperson said.The deadline to apply to the tender has been set for April 14, 2018.The installation of the 500kW Deep Green device, the DG500, and the surrounding test setup infrastructure is expected to begin this April off North Wales.last_img read more

U-17 AFCON: Zenith Bank Salutes Gallant Eaglets

first_imgGolden Eaglets Despite losing to Guinea in the semifinal of the ongoing CAF U-17 Africa Nations Cup, the Golden Eaglets have been commended for giving a good account of themselves and the country.Eaglets and the Guineans ended the full time score at 0-0 but lost 10-9 in the energy sapping penalty shoot out.The team is however among the four representing Africa at the FIFA U-17 World Cup slated for Brazil later in the year. Others are Angola, Guinea and Cameroon. Officials of the bank, sponsors of the Delta State Principals’ Cup and the NFF Future Eagles project for U-13s and U-15, spoke to the players and officials in Tanzania yesterday.Eaglets’ camp source said that Zenith Bank expressed delight over the fighting spirit of the team.“Zenith Bank is proud of the players because they are quite young and will improve in the weeks ahead. They gave their all but were unlucky to have lost to Guinea,” the source said.The bank produced seven of the players currently in Tanzania for the cadet competition and that informed its strong attachment with current Manu Garba team.“The players were not only commended for picking the ticket to World Cup, they were charged to win the Third place match and prepare to conquer the World again in Brazil. It is not strange to the team as former champions,” the source added.The Eaglets will play Angola on Saturday in the Third Place playoffs of the continental competition while Cameroon and Guinea will clash in the final on Sunday.Nigeria has won the U-17 AFCON just twice and champions of the world five times.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more