BUSINESS

Carbon Tracker Initiative sees losses for PPC

TAGS: Energy, Business

The think tank Carbon Tracker Initiative reported on Thursday that four in five coal plants in the European Union were unprofitable and utilities faced losses of nearly 6.6 billion euros this year.

German utility RWE faces the biggest losses this year, of 975 million euros, which is 6 percent of its market capitalization, according to the report.

Central European energy group EPH, which has assets mainly in Germany and the Czech Republic, could lose 613 million euros, and PPC in Greece could lose 596 million euros, it said.

[Reuters]

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