Germany Shrinks Huge Plan to Build Gas-Fired Power Plants

Germany cut in half its plans to build 20 gigawatts of new gas-fired power plants in a compromise deal between proponents of fossil fuels and clean energy in the country’s coalition government.

The decision will have a major impact on the outlook for gas demand in Europe’s biggest economy, which recently reduced its long-term expectations for electricity consumption as its heavy industry endures a prolonged crisis. Companies are threatening to scale back production or shift it abroad, with high energy prices a major motivator.