Merkel Clinches Deal With German State Premiers to Exit Coal

Investing.com | Jan 16, 2020 at 12:00 AM
  • Chancellor Angela Merkel clinched a deal with Germany’s coal-producing states for Europe’s largest economy to begin phasing out the dirty fossil fuel, leaving an agreement with utilities as the last major stumbling block before plants and mines start to close.
  • The deal agreed to by four state premiers doesn’t mention compensation to power utilities.
  • Germany will miss its 2020 targets under the Paris Agreement and could fall further behind if it doesn’t start closing coal-fired power plants soon.