January 16, 2020 / 8:16 AM / 7 months ago

Germany to compensate RWE with 2.6 billion euro for coal exit: sources

BERLIN (Reuters) - The German government plans to compensate utility RWE (RWEG.DE) with around 2.6 billion euros ($2.9 billion) for costs related to the country’s planned coal exit, two government sources said on Thursday.

Mining company Mibrag, owned by Czech energy group EPH, is likely to get 1.75 billion euros of compensation, the people familiar with the matter said, adding that the payments will begin when coal-fired plants are turned off until the broad final coal exit date.

Reporting by Holger Hansen and Michael Nienaber; Editing by Thomas Seythal

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