Energy industry Power firms win UK subsidies for new electricity cables across the Channel Undersea interconnectors between Britain and Europe will double backup capacity and lower energy costs Three new powerlines are being built between UK and Europe. That will help cut costs for consumers and squeeze out old coal power plants. Existing gas power stations scooped up most of the contracts, but new gas ones lost out, as did several coal plants. Experts at Bernstein bank said the the misses by coal meant that around half the UK’s remaining coal power capacity could close from October 2019, when existing capacity market contracts run out. But the prospects for new gas plants in future rounds of the capacity market look bleak.

Source: The Guardian February 09, 2018 17:29 UTC