Already 54% of coal-fired power plants in Europe are unprofitable

Almost all coal power plants of the European Union and the UK will become unprofitable in the next ten years. They will be subsidized by the state, giving them the role of a safety option in case solar and wind power stations do not cope during periods of peak demand for electricity.

Since many European countries, from the UK to Austria, are trying to completely abandon the most environmentally harmful fuel, the future of the coal industry has never seemed so gloomy. British company Drax Group and German Steag and Uniper SE close coal-fired power plants at a record pace.

By 2030, 97% of such enterprises will become unprofitable, since the European Commission will stop subsidizing them, and provide the region with electricity during peak loads will be improved energy storage systems.

20 countries from different continents have already promised to completely abandon the use of coal for generating electricity.