Germany has been so effective in tranisitioning from unsustianble (econmically and environemntally) energy sources to renewable ones that it is uncompetitive to burn fossil fuels for power!
“Due to the continuing boom in solar energy, many power stations throughout the sector and across Europe are no longer profitable to operate,” RWE said in a statement.
“During the first half of 2013, the conventional power generation division’s operating result fell by almost two-thirds. The massive reduction in power station margins is a major factor in this development.”
On Tuesday, E.On said it had shut down or left idle 6,500 megawatts of generating capacity.
It had previously announced plans to close a total of 11,000 megawatts, but now says it may close more.