2020-09-01 14:40:00
GERMANY'S COAL COMPENSATION €40 BLN
ENERDATA - 1 Sep 2020 - The German federal government has signed an agreement with Länder on the €40bn in support to ensure a just transition for coal regions. Brandenburg, Saxony, North Rhine-Westphalia and Saxony-Anhalt will receive €14bn until 2038 for direct investments, while the federal government will provide another €26bn to implement further measures to strengthen locales economies. The law governing support payments for mining regions was adopted in July 2020.
In July 2020, the German coalition government has approved a €40bn compensation package for power utilities, which operate hard coal-fired power plants in the country and should shut them down by 2038 at the latest. Under the agreement, power utilities will benefit from compensations for switching their coal-fired power plants to gas, depending on the power plant's age and the conversion date, or for shutting them down by 2033.
The government also endorsed a €4.3bn compensation package for RWE, Uniper, EnBW, Vattenfall, Steag and LEAG, which operate lignite-fired power plants in the country. Before the contracting parties can sign, the Bundestag (lower house of the Parliament) must pass the coal exit law and approve the compensation package. Aid approval from the European Commission is also required.
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Earlier:
2020, August, 26, 12:40:00
GERMANY'S HELP €10 BLN
The German economy contracted at its steepest rate on record in the second quarter and the government is desperate to mitigate the effects of the pandemic as much as possible,
2020, August, 25, 14:05:00
GERMANY'S ECONOMY DOWN 9.7%
Germany's central bank expects household spending to drive a strong recovery in the third quarter
2020, August, 19, 12:10:00
GERMANY'S RWE RENEWABLE EMISSION $2.4 BLN
German utility RWE on Tuesday completed a 2 billion euro ($2.4 billion) share issue to back its expansion into renewable energy,
2020, August, 7, 13:45:00
GERMANY'S ENERGY WITHOUT COAL
The phase-out of coal-fired power generation in Germany is to be completed by 2038 at the latest
2020, July, 30, 12:10:00
GERMANY'S ECONOMY DOWN 10%
On the year, gross domestic product in Europe’s largest economy declined by 11.7% from April to June, seasonally adjusted figures from the Federal Statistics Office showed.
