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29th Mar 2024

Ticker

Gas crunch prompts EU turn to CO2-heavy coal

National utilities firms in Europe are switching from gas to more heavily polluting coal-fired energy plants because gas prices have gone up 400 percent since the start of the year, while coal ones have risen 200 percent, Reuters reports. "Soaring [gas] prices have now unlocked the gas-to-coal switching lever," Bank of America said. "Emissions are going in the wrong direction," Dave Jones, from climate think-tank Ember, added.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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