It is the US shale boom that is killing gas-fired power in Europe. As American generators switched to plentiful domestic shale gas, US coal went in search of a new market – and flooded into Europe. Suddenly it became far more profitable for European utilities to generate electricity from cheap US coal than from gas.
“Power down”
Guy Chazan Financial Times 20th Feb 2014, page 11
manchester climate monthly 
This isn’t an argument against shale per se though, is it? Because presumably if we had our own, it would balance up the costs again.
But, as we keep saying, gas isn’t low carbon anyway…
no, but there are other arguments against shale – to do with timescales and technological lock-in. Try the Tyndall centre’s work on this, by the ubiquitous Kevin Anderson and also John Broderick.