Europe Had Enough Of Renewable Stupidity? The Beginning Of The End? "Failed On All Accounts"!!!

suyts space


BRUSSELS–The chief executives of 10 energy companies accounting for half of Europe’s electricity production capacity issued a joint call Friday to end subsidies to wind and solar power, saying the mechanisms . ……

The informal group, which includes utilities such as Germany’s E.ON AG (EOAN.XE), France’s GDF Suez SA (GSZ.FR) and Italy’s Eni SpA (E), blamed the trend on policies introduced at the turn of the century, when most European governments sought to promote renewable energy.

The criticism from Europe’s commercial power producers isn’t new. The industry has long been critical of the continent’s shift to renewable energy because it threatens their core nuclear and coal-based power production.

Europe is threatened by a blackout like in New York few years ago, prices are shooting up higher, and our carbon emissions keep increasing,” said GDF Suez CEO Gerard Mestrallet ahead of the news conference……

Under the subsidy mechanisms, wind and…

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