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Merkel Spends Big to Kickstart Germany’s Stalled Coal Exit

  • Agreement in principle sees coal plants closing down by 2038
  • Government confirms regional compensation of 40 billion euros
Populism and Protest Lurk Behind Europe's Dying Coal Mines
Photographer: Krisztian Bocsi/Bloomberg
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Chancellor Angela Merkel clinched a deal to kickstart Germany’s stalled coal exit, offering billions in compensation to utilities and affected regions so that closures of plants can start this year.

In talks that began Wednesday evening and lasted well into the night, the government hammered out a timeline with state leaders to shut down the country’s coal-fired power generation by 2038, a plan that includes 40 billion euros ($44.6 billion) in compensation for impacted regions.