Most EU Coal Plants Turn Unprofitable

Losses of €6.6 billion in 2019 should focus industry on complete phase out in next decade

Four in five EU coal power plants are unprofitable and utilities could lose €6.6 billion this year alone, finds a new report from financial think tank Carbon Tracker. It warns investors and policymakers to prepare for a complete phase-out of coal by 2030, because without heavy subsidies the industry will not survive sustained competition from ever lower cost wind and solar power and temporarily cheap gas. Governments will face “intractable problems” if they seek to support coal in the long-term because they will have to choose whether to: pass costs to the utilities and destroy shareholder value; pass costs to consumers and push... ... More: Official Press Release The Carbon Tracker

Keywords:

Carbon Tracker, EU, coal, renewables, gas, unprofitable, phase out, plant, government, utility