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New UserGRAPHIC-Lower European gas prices encourage switch from coal
09 Jun 2023
By Nina Chestney and Forrest Crellin
LONDON/PARIS,
June 8 (Reuters) - Lower European wholesale natural gas prices due to
swelling inventories and weak industrial demand have encouraged utilities to
switch to gas from coal to generate electricity in a reversal of behaviour last
year.
A surge in European gas prices to record highs caused by reduced Russia
supplies after Moscow invaded Ukraine in February last year led utilities to
switch to carbon-heavy coal even as the European Union (EU) seeks to meet
climate targets that depend on increased use of lower carbon fuel.