The post Report: Nearly 80% of EU Coal Units Operate at a Loss appeared first on POWER Magazine.

A new report from a group that studies the impact of climate change on financial markets recommends that European Union (EU) governments move to phase out coal-fired power generation completely by 2030 in order to avoid even-greater economic damage.

Carbon Tracker, a London, UK-based group supported by foundations in Europe and the U.S., on Oct. 24 released its Apocoalypse Now report. The study said European utilities could lose as much as $ 7.3 billion in 2019 from operations of coal-fired power plants. The group said nearly 80% of coal units in Europe are not economic, up from about 46% of units just two years ago.

Matt Gray, head of Power & Utilities for Carbon Tracker, in an email to POWERsaid, “In this report, we explain the financial implications of recent changes to EU coal power economics. In doing so, we argue EU policymakers and investors need to prepare for no hard coal or lignite generation by 2030.…

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