Merkel Spends Big to Kickstart Germany’s Stalled Coal Exit

Investing.com | Jan 16, 2020 at 12:00 AM
  • In talks that began Wednesday evening and lasted well into the night, the government hammered out a timeline with coal-state leaders to shut down the country’s coal-fired power generation by 2038, a plan that includes 40 billion euros ($44.6 billion) in compensation for impacted regions.
  • Utility RWE AG (DE:RWEG_p), Germany’s biggest coal-fired power producer, will receive 2.6 billion euros in payments.
  • The federal government will also pay for retraining programs for power and lignite mine workers affected by plant closures.