Germany's USD 55bn plan to scrap coal clears cabinet hurdle

The Cabinet of Germany approves legislation that will see the country scrapping coal-fired energy by 2038, marking the end of long-lasting battles with governors and utilities over the cost of the phase-out.
Photo: Wolfgang Rattay/Reuters/Ritzau Scanpix
Photo: Wolfgang Rattay/Reuters/Ritzau Scanpix
By Brian Parkin and Patrick Donahue, Bloomberg

Chancellor Angela Merkel’s cabinet on Wednesday approved delayed coal exit legislation that sets a time plan and compensation for closing over 100 hard coal and lignite plants owned by RWE AG, Uniper SE and a handful of other utilities.

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