Haven Power

Coal and gas to stay cheap, says Bloomberg

Coal and gas to stay cheap, says Bloomberg


 

Low prices will persist for coal and gas but will not prevent a “fundamental transformation” of the electricity system towards renewables sources, according to Bloomberg New Energy Finance (BNEF). The company’s New Energy Outlook 2016, published on Sunday 12 June, charted a significantly lower track for global gas and coal prices than the equivalent projection a year ago, but the forecast decline for wind and solar was steeper. Seb Henbest, head of Europe, Middle East and Africa for BNEF, commented: “Some $7.8tn will be invested globally in renewables between 2016-40, two thirds of the investment in all power generating capacity, but it would require trillions more to bring world emissions onto a track compatible with the United Nations 2°c climate target.”

 

BNEF