By 2030, 97 percent of businesses will have negative cash flow as the European Commission plans to end so-called “to coal” payments by the middle of the next decade and battery technology will improve to provide more power needed during peak hours.
“Coal will be put in a death spiral, and asset owners will have nothing to do but the lobby and hope the government will bail them out,” said Matthew Gray, senior analyst at Carbon Tracker in London.
In Germany, where incumbent Chancellor Angela Merkel is under pressure to reduce pollution from the energy sector, a coal phase-out would cost € 12 billion for utilities, according to the analysis.
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