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Germany Plans Coal U-Turn, Gas Funding to Offset Russian Cut

  • Financing to refill storage would total about 15 billion euros
  • Austria to reopen old coal plant in reversal of climate policy
A Natural Gas Storage Facility in Muhldorf, Germany.

A Natural Gas Storage Facility in Muhldorf, Germany.

Photographer: Krisztian Bocsi/Bloomberg
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Germany is stepping up efforts to respond to a cut in Russian gas supplies by reviving coal plants and providing financing to secure gas for the winter, an effort that would cost about 15 billion euros ($15.8 billion) at current prices.