E.ON AG, Centrica and other European utilities plan to start at least 19 new gas-fired power plants this quarter from Greece to Ireland, it has been revealed.

The plans could potentially cut power and emissions prices and boost gas demand, writes Bloomberg.

Electricity producers plan to add 9,364MW of natural gas-fired capacity in the three months leading to December.

This is compared with five facilities, or 1,300MW, this year through August according to data from energy information provider McGraw-Hill Cos. Platts.

Gas plants are cheaper to build and emit about half the carbon dioxide of plants fired by coal, the most commonly used fossil fuel in power generation.

A new combined cycle gas turbine plant in Europe costs between €600,000 to €700,000 per MW, or about half the price of a new coal-fired station, according to Platts estimates.