We are writing this report because retiring coal is the fastest route to decarbonisation and alignment with the goals of the Paris Agreement.

The Good: Availability and cost may shorten asset lives of hard coal; high gas & CO2 prices shorten payback periods for renewables, still more competitive versus fossil fuels.

The Bad: High gas prices may extend asset lives of lignite; shift Government focus away from climate security.

The Ugly: Commodity prices are driving Government plans to buy out minority shareholders as owners of coal capacity at PGE, largely at Uniper and potentially at CEZ.

This report includes separate company reports on each of the CA100+ EU coal names, CEZ, PGE, RWE and Uniper.