Follow The Money: Fossil Fuel Giants Closing

3 of the biggest power producers in the EU,
. . . RWE. E.ON, and EnBW are announcing,  
. . . massive closures and mothballing of plants.

The closures are being brought about,
. . . because wholesale prices have fallen by about 1/5, and
. . . the growth of renewables means,
. . . that the hours that fossil fuel plant operate,
. . . are being dramatically reduced.

Renewables, had reduced fossil fuels to the role of
. . . “marginal power plants” which caused a
. . . drastic fall in revenue(Follow the Money)

Navigant Research recently estimated that the combined impact of
. . . market forces and
. . . tighter emission control
. . . would force coal-fired plant closures in
. . . (53GW) 137 North America and
. . . (49GW) 144 in Europe by 2020.

Such is the impact on the market from renewables that some analysts say,
. . . nuclear plants could be closed.

The Australian Energy market Operator said:
. . . the growing use of rooftop solar,
. . . more efficient appliances, and
. . . some reduced industrial demand meant that
. . . there was no need for any new baseload,
. . . or even peaking plant capacity,
. . . for at least another decade.

Renewable Energy (even without feed in tariffs), would continue to eat into the
. . . profit margins and revenues(Follow the Money)
. . . of baseload generators.
The long-term implications of the markets,
. . . will be sure to weigh on the minds of potential investors(Follow the Money)

Source:  Fossil Fuel Closing