Clinging to coal could cost EU €22bn, report warns

Europe’s coal-fired generation fleet is in a parlous financial state, with more than half already unprofitable and that ratio set to hit 97% by 2030, according to a report published on Friday

Europe’s coal-fired generation fleet is in a parlous financial state, with more than half already unprofitable and that ratio set to hit 97% by 2030, according to a report published on Friday, three days before the European Parliament votes on whether state support should be banned.

German operators alone could avoid €12 billion in losses by retiring plants early, while Poland – which has been fighting a diplomatic campaign for the right to continue subsidising its coal generation sector – could save €2.7 billion, the report concludes.

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