BERLIN, Jan 29 (Reuters) - The German cabinet on Wednesday backed plans to exit coal as an energy source by 2038 at the latest as part of Berlin’s efforts on climate protection, a government spokesman said.
A draft law approved by the cabinet to phase out hard coal-fired power stations envisages maximum phase-out compensation of 165,000 euros ($183,051) per megawatt in 2020, falling to 155,000 euros in 2021 and 2022.
The maximum sum would drop by about 25% annually thereafter before reaching 49,000 euros in 2026. There will be no further compensation after 2026.
$1 = 0.9014 euros Reporting by Markus Wacket Writing by Paul Carrel Editing by Thomas Seythal