Two-fifths of the world’s coal power stations are already running at a loss because of high fuel costs, Carbon Tracker study revealed. For 35 percent of coal power plants, operating costs exceed the costs of building new renewable energy sources, the report added. By 2030 this number is expected to reach 96 percent.
Three European Union companies – Polska Grupa Energetyczna (PGE), RWE, and EPH – are most exposed to the risk of obsolete or non-performing assets, according to Carbon Tracker.
The UN’s Intergovernmental Panel on Climate Change says at least 59 percent of coal power worldwide must be retired by 2030 to limit global warming to 1.5°C and many countries have set phase-out dates.