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Utilities May Waste $981 Billion on Coal Plants, Study Finds

  • Power industry risks capacity glut, environmental groups say
  • New coal plants threaten global effort to curb global warming
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Power companies worldwide risk wasting investment of $981 billion in the coal-fired electricity plants they are seeking to build even though nations have pledged to reduce pollution, a report by researchers from non-government environmental organizations showed.

“While the amount of electricity generated from coal has declined for two years in a row, the industry has ignored this trend and continues to build new coal-fired generating plants at a rapid pace, creating an increasingly severe capacity bubble,” according to the report published by green groups including CoalSwarm, the Sierra Club and Greenpeace.