Europe Is Relying More On Coal as Gas Prices Rally on Iran War

Soaring gas prices are pushing Europe to rely more on coal generation, even as demand falls and solar generation increases as sunnier, milder weather sets in.

German coal plants have raised their share of generation by about 2% so far this month compared with February, even as sunnier and windier conditions boost renewables, according to Entso-E data. At the same time, gas-fired power output in Europe’s biggest market has dropped by more than a third as surging wholesale prices make the fuel less profitable for electricity generation.