As EU leaders discuss the future of the EU electricity market, new research reveals how much money goes to supporting coal, gas and nuclear in the form of so-called capacity mechanisms. Almost €58 billion – 98% of these subsidies – is being added to energy bills to prop up coal, gas and nuclear plants, according to analysis and data gathered by Greenpeace. In the last twenty years, spending on capacity mechanisms across the EU has nearly quadrupled. To date, capacity mechanisms have cost consumers €32.2 billion. A further €25.7 billion has been earmarked until 2040. The biggest users of capacity mechanisms are Spain, Poland, Belgium, Ireland and the UK.
Greenpeace 13th Sept 2018 read more »