The EU’s energy giants still produce more than half ofEurope’s power, but only 4% of that comes from non-hydro renewable sources says thereport, Locked in the Past – Why Europe’s Big Energy Companies FearChange.
Despite slowing demand, the energy companies have added85GW in fossil capacity over the last ten years. That was a gross misjudgement, Greenpeace argues, as according to analysts about 50GW of fossilfuel capacity will have to be mothballed in Europe by 2017 if companies want tomaintain their diminished 2012 profit levels.
“Europe’s
