East European new build grinds to a halt

摘要

Development of all forms of new power generation in Eastern Europe is grinding to a shuddering halt, owing to a crippling combination of low electricity prices, falling or at best stagnant demand, weak clean spark spreads for gas-fired producers and attacks by national governments across the region on support for renewable energy. Over the last five years, subsidized renewables have been the sole salvation for investors, resulting in spectacular growth of, most notably, wind and solar PV capacity in select markets on the back of lucrative incentive schemes. However, governments and regulators across the region have moved to curb support systems to the detriment of new build growth in the sector.