EU coal power plant owners could save €78bn by closing loss-making facilities in line with the Paris Climate Agreement, new analysis suggests.
The Carbon Tracker financial thinktank carried out what it says is the first global analysis of the profitability of 6,685 coal plants worldwide representing 95% of operating capacity.
The research found that 42% of global coal capacity is already unprofitable because of the high price of fuel, rising to 56% by 2030, and 72% by 2040 as carbon pricing and air pollution regulations drive up costs and renewables continue to get cheaper. Costs would be driven even higher by any future regulation.
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