webfact Posted October 24, 2019 Share Posted October 24, 2019 Four in five EU coal plants are unprofitable: research By Nina Chestney FILE PHOTO: Smoke and steam billows from Belchatow Power Station, Europe's largest coal-fired power plant operated by PGE Group, at night near Belchatow, Poland December 5, 2018. REUTERS/Kacper Pempel LONDON (Reuters) - Four in five coal plants in the European Union are unprofitable and utilities could face losses of nearly 6.6 billion euros ($7.3 billion) this year, a report by think tank the Carbon Tracker Initiative said on Thursday. Lower costs for renewable energy and cheaper natural gas prices are increasingly competitive versus coal in power generation. More expensive technology will also need to be installed on many existing coal plants to meet stricter EU air quality standards from 2021 and rising carbon permit prices could increase costs too, the report said. Several EU countries have announced plans to phase out coal completely over time to comply with international emissions reduction targets. But some are still reliant on coal for the majority of their power generation, such as Poland. Many coal plant operators say coal will be needed for decades to provide stable energy supplies because renewable energy is intermittent. Carbon Tracker analysed the operating economics of every coal plant in the EU. It found that hard coal generation, which has the highest carbon content, had fallen 39% this year from a year earlier. Some 84% of lignite generation, which also has a high carbon content, and 76% of hard coal generation, is unprofitable, resulting in losses of 3.54 billion and 3.03 billion euros respectively. Across the EU, 79% of coal plants are running at a loss. "EU coal generators are haemorrhaging cash because they cannot compete with cheap renewables and gas and this will only get worse. Policymakers and investors should prepare to phase out coal by 2030 at the latest," said Carbon Tracker's Matt Gray, co-author of the report. German utility RWE faces the biggest losses this year of 975 million euros, which is 6% of its market capitalisation, according to the report. Central European energy group EPH, which has assets mainly in Germany and the Czech Republic, could lose 613 million euros, and PPC in Greece could lose 596 million euros, it said. Coal plants that will continue to turn a profit include those in Poland, which receive quite high subsidies, efficient units in Germany and the Netherlands and some plants in Italy, the Czech Republic and Slovenia, which benefit from high wholesale power prices, the report said. (Reporting by Nina Chestney; Editing by Mark Potter) -- © Copyright Reuters 2019-10-24 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
TopDeadSenter Posted October 24, 2019 Share Posted October 24, 2019 6 minutes ago, webfact said: Four in five coal plants in the European Union are unprofitable Well, that's not so bad considering that 5 out of 5 wind farms are unprofitable and must be propped up by gargantuan subsidies, plus that which must not be discussed(the staggering amount of fossil fuels it takes to mine and refine bauxite to Al, and steel, and copper, and manufacture of the turbines, and transport, and maintenance, and keep diesel or coal generators maintained and on backup for when the wind isn't blowing). Maybe factoring in the above, it's possible that coal is actually "better" for the environment than the progressives faves. Link to comment Share on other sites More sharing options...
VocalNeal Posted October 24, 2019 Share Posted October 24, 2019 24 minutes ago, webfact said: Smoke and steam billows That would be water vapour. A common misconception. Quote cannot compete with cheap renewables Exactly what are these "cheap" renewables. They are not cheap. Link to comment Share on other sites More sharing options...
Krataiboy Posted October 24, 2019 Share Posted October 24, 2019 The sooner that Arctic ice melts and we can get our grubby little hands on all that buried natural gas the better! Unfortunately, no matter what the global warming/climate change "experts" like James Hansen tell you, this won't happen any time soon. In June 2018, top NASA climate expert Hansen forecast that by 2018 the Arctic would be ice-free and Lower Manhattan under water. https://www.youtube.com/channel/UCprclkVrNPls7PR-nHhf1Ow Last time I looked, the Arctic ice was still there and Manhattan was drier than a town cryer's throat. Link to comment Share on other sites More sharing options...
puipuitom Posted October 24, 2019 Share Posted October 24, 2019 2 hours ago, Krataiboy said: The sooner that Arctic ice melts and we can get our grubby little hands on all that buried natural gas the better! Unfortunately, no matter what the global warming/climate change "experts" like James Hansen tell you, this won't happen any time soon. would be ice-free and Lower Manhattan under water. https://www.youtube.com/channel/UCprclkVrNPls7PR-nHhf1Ow Last time I looked, the Arctic ice was still there and Manhattan was drier than a town cryer's throat. Maybe something wrong... In June 2018, forecast that by 2018 the Arctic... Link to comment Share on other sites More sharing options...
puipuitom Posted October 24, 2019 Share Posted October 24, 2019 Coal plants .. efficient units in Germany and the Netherlands Y=The last coal mine in the Netherlands was closed in 1974..... Link to comment Share on other sites More sharing options...
Krataiboy Posted October 24, 2019 Share Posted October 24, 2019 43 minutes ago, puipuitom said: Maybe something wrong... In June 2018, forecast that by 2018 the Arctic... sorry, June, 2008 Link to comment Share on other sites More sharing options...
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