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The German government has agreed to provide compensation schemes for utilities operating hard-coal power plants as part of
Germany's plan to phase out coal by 2038 at the latest to meet climate goals.
Under the latest agreement, utilities that convert hard coal plants to natural gas will receive a compensation of 390 euros per kilowatt instead of the previously agreed 180 euros
.
The compensation applies to power plants up to 25 years old and is valid until the end of
2022.
If utilities decide to switch their hard coal plants to natural gas after 2022, the compensation received will be reduced by €25/kW
per year.
Power stations with a service period of between 25 and 35 years are entitled to compensation of 225 euros per kilowatt if they switch to natural gas
.
The government also hopes to induce utilities that don't switch to natural gas to close their hard-coal plants
through a 2026 tender.
Under the scheme, utilities can apply for compensation
if they plan to shut down power plants and the plant with the lowest bid price.
After 2026, the remaining hard coal power stations will be forced to close without compensation, with the goal of completely freeing German power generation away from hard coal
by 2033.
Last week, the German government approved a €4.
3 billion compensation package for the operation of lignite power.
Station of the utility company
.
Merkel's government has agreed on the size of the scheme with utilities affected by the phase-out, which include RWE, Uniper, EnBW, Vattenfall, Steag and LEAG.
The cost of reducing lignite or lignite power generation is expected to exceed tens of billions of euros, including €40 billion in investments in
mining sites.
The German government has agreed to provide compensation schemes for utilities operating hard-coal power plants as part of
Germany's plan to phase out coal by 2038 at the latest to meet climate goals.
Under the latest agreement, utilities that convert hard coal plants to natural gas will receive a compensation of 390 euros per kilowatt instead of the previously agreed 180 euros
.
The compensation applies to power plants up to 25 years old and is valid until the end of
2022.
If utilities decide to switch their hard coal plants to natural gas after 2022, the compensation received will be reduced by €25/kW
per year.
Power stations with a service period of between 25 and 35 years are entitled to compensation of 225 euros per kilowatt if they switch to natural gas
.
The government also hopes to induce utilities that don't switch to natural gas to close their hard-coal plants
through a 2026 tender.
Under the scheme, utilities can apply for compensation
if they plan to shut down power plants and the plant with the lowest bid price.
After 2026, the remaining hard coal power stations will be forced to close without compensation, with the goal of completely freeing German power generation away from hard coal
by 2033.
Last week, the German government approved a €4.
3 billion compensation package for the operation of lignite power.
Station of the utility company
.
Merkel's government has agreed on the size of the scheme with utilities affected by the phase-out, which include RWE, Uniper, EnBW, Vattenfall, Steag and LEAG.
The cost of reducing lignite or lignite power generation is expected to exceed tens of billions of euros, including €40 billion in investments in
mining sites.
