Natural gas addiction risks $1trn of stranded power generation assets

Natural gas can no longer be used as a ‘bridge’ fuel for electricity production in the route to net-zero emissions – and current levels of investment will lead to devastating losses in both an economic and environmental sense. An economic report, out this week from Rethink Energy, entitled “Natural gas will strand $1 trillion in power generation by 2050,” forecasts where these asset losses will be recorded around the world, if investors continue to back natural gas assets for electricity generation. As the cost of renewables-plus-storage will continue to fall with economies of scale, the fossil-fuel glut will see the gas sector fall to the same fate – far before it can provide any assistance in global decarbonization. Rather than…