Germany is set to phase out all its coal-fired power stations by 2038, under a plan agreed by a government-appointed commission early on Saturday. The keenly-awaited deal calls for massive financial transfers – worth €40bn over the next 20 years – to regions in Germany where coal mining and coal power still play a significant role. The commission also wants Berlin to shield households and the private sector from the expected rise in electricity prices triggered by the phase-out, a move that could cost the government a further €2bn a year. The plan – if implemented by the government in the years ahead – would see Germany join a growing number of countries around the world that have decided to end the use of coal, a key source of greenhouse gas e missions.
FT 26th Jan 2019 read more »
