A report by the Carbon Tracker Initiative (CTI) has revealed that four out of five of EU coal plants are running at a high financial loss. They could be facing losses of nearly €6.6 billion this year. Renewable energy and gas-fired power plants are increasingly competitive compared to coal. According to CTI, the German energy giant RWE is facing the biggest financial losses, estimated at around €975 million. An RWE spokesman, however, contested the report saying: "If plants were not covering their cash costs we would not run them."
