European power is slipping away from King Coal
15 Jun 2015
By ALEX KIRBY.- Coal, the muscle that for two centuries powered Europe’s economic dominance of the world, is steadily losing its grip as cleaner fuels take its place and energy efficiency cuts electricity consumption, according to new analysis.
The European Union’s electricity demand fell by 3.3 per cent from 2008 to 2013 − even though GDP grew by 4.1 per cent − and the analysts say changing market conditions for utilities leaves new coal plants failing to generate positive cash-flows even in the most optimistic scenario.
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