Economics
Coal Power Plants Face $7.3 Billion Losses in Europe in 2019
- Carbon Tracker report says 79% of plants running at a loss
- RWE says claims of losses at coal fired plants are "false"
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Coal power generators in Europe face 6.6 billion euros ($7.3 billion) of losses this year as plunging renewable energy costs and cheap natural gas cut use of the dirtiest plants to a record low.
Almost 80% of lignite and hard coal-fired generators will be unprofitable this year, a hit the industry is unlikely to survive without government help, according to a report from Carbon Tracker. The research group pushing for lower greenhouse gas emissions calls for a continent-wide phaseout of the most polluting fossil fuel by 2030.