Germany agrees 40 bln euro coal exit deal for states, companies

Financial Post | Jan 16, 2020 at 10:15 AM
  • Germany has agreed to compensation of about 40 billion euros ($45 billion) for affected regions, workers and companies as part of plans to end its use of brown coal in power plants by 2038, Economy Minister Peter Altmaier said on Thursday.
  • The federal government would take further measures worth up to 26 billion euros to help brown coal regions up to 2038.
  • Energy-intensive companies which compete internationally will be eligible for annual subsidies from 2023 to compensate for higher electricity costs caused by the coal exit, Seibert added.