Coal Can’t Compete With Gas & Renewable in Europe, Study Says
October 24, 2019-In a sign that renewable energy and natural gas are increasingly gaining market power, a study released today by the Carbon Tracker Initiative finds that 79 percent of coal generators in the European Union are running at a loss.
"Owing to relentless competition from ever lower-cost wind and solar, and gas, these losses could be sustained for the foreseeable future," according to the Carbon Tracker Initiative, a London-based think tank focused on climate change.
The new study suggests the coal industry cannt survive, unless it is supported by heavy government subsidies, due to sustained competition from wind and solar power and temporarily cheap natural gas.
"EU coal generators are haemorrhaging cash because they cannot compete with ever-cheaper renewables and...