Europe Coal Use to Fall 26% as Plants Close, Deutsche Bank Says
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Europe, which was overtaken as the largest importer of seaborne thermal coal by China last year, will cut consumption 26 percent by 2020 as power stations burning the fuel close, according to Deutsche Bank AG.
Usage will fall to 271 million metric tons from 365 million last year, Michael Hsueh and Michael Lewis, analysts at the bank in London and Paris, said today in a report. The amount of coal-fired generation capacity will drop 15 percent to 162 gigawatts in the period as the European Union seeks to meet renewable energy targets, they said.