EnergyWatch

GE punished for weak gas turbine forecast

Sales of gas turbines to power plants will decline over the next few years, says GE CEO. The share market has responded to the forecast negatively.

Photo: /ritzau/AP/Thibault Camus

While prices on renewables such as solar and wind are declining, things look difficult for traditional gas plants.

The demand for fossil fuel based energy sources is not what it once was, and new installations of gas plants have plummetted. This can be felt at GE, which is one of the world's leading producers of gas turbines, and which a few years ago purchased the turbine division from French Alstom.

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