May 7, 2019 / 9:09 AM / 3 months ago

Uniper saw more gas, less coal burning in first quarter

FRANKFURT, May 7 (Reuters) - German utility Uniper saw more usage of natural gas and less of coal in its power generations plants across Europe in the first quarter of 2019, with the main effect in Britain, chief executive Christopher Delbrueck said on Tuesday.

Higher carbon emission rights prices created incentives to burn gas, which has around half the CO2 emissions compared with coal, while gas prices fell amid pressure from an inventories build-up in a warm winter, he said in a call with journalists.

Uniper in the first three months produced two terawatt hours (TWh) less coal-derived electricity and 1.5 TWh more from gas.

Britain has a carbon tax floor that heaves gas more quickly into an advantageous position price once prices are falling and carbon is up, while in Germany this impulse is missing, lessening the price effect, the executive said. (Reporting by Vera Eckert, editing by Tassilo Hummel)

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