Another gas-fired power plant in Europe may be put into storage after E.ON announced today that it is “seriously considering” mothballing a state-of-the-art plant in Slovakia.

Chief Executive Johannes Teyssen speaking in conjunction with the company’s first-quarter earnings report said the company‚Äôs power generation business across Europe remains under intense pressure as power prices are hovering around historical lows.
Johannes Teyssen
“The economic situation of our legacy business in Europe, particularly in conventional power generation, remains difficult,” he said.

The company is actively considering the mothballing of their 430 MW gas-fired power plant, which was commissioned in 2010.

The Wall Street Journal reports that Mr. Teyssen renewed his calls on lawmakers to help revitalize the European Union’s carbon dioxide emissions trade to help improve prospects for gas-fired power plants, “which are currently being crowded out of the market by renewables and carbon-intensive lignite”.

“That’s why we’re urgently calling for a new market design for the power market, one that has fair rules for maintaining generating capacity and long-term incentives to encourage the construction of new assets,” Mr. Teyssen said.

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