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German Lawmakers Vote to Reduce Renewable-Energy Subsidies

German lawmakers backed an extensive revision of the country’s EEG clean-energy law to curb subsidies and slow gains in power prices that are the second-costliest in the European Union.

The legislation, which introduces limits on how much onshore wind and biomass capacity qualifies for the full subsidies and lowers existing targets for solar and offshore wind, pulls energy policy “out of the quicksand,” Economy Minister Sigmar Gabriel told reporters after the vote in the lower house. “We have to expand renewables with more planning security.”