German Utilities Hammered in Market Favoring Renewables

http://www.bloomberg.com/news/2013-08-11/german-utilities-hammered-in-market-favoring-renewables.html

Across Europe and some of the U.S., utilities that a decade ago dominated markets now struggle to cope with lower prices exacerbated by subsidized renewables that don’t pay fuel costs. The pain is most acute in Germany, which led the world installing solar farms and has the largest offshore wind plans.