EU coal plants face €6.6bn annual loses, report says

European governments face 'intractable problems' if they choose to continue supporting coal power generation beyond 2030, a thinktank has warned, with generators facing loses of €6.6bn this year

European governments face “intractable problems” if they choose to continue supporting coal power generation beyond 2030, a thinktank has warned, with generators facing loses of €6.6bn this year.

Analysis by the Carbon Tracker Initiative published on Thursday claims 84% of lignite and 76% of hard coal generators are currently operating at a loss and could lose €3.54bn and €3.03bn, respectively, in 2019.

The thinktank said cost pressure from renewables meant such losses could be sustained for the foreseeable future and without heavy subsidies policymakers should plan to phase out coal by 2030. 

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