German government agrees compensation for utilities over hard coal phase-out

Chancellor Angela Merkel's coalition government has agreed on a compensation package for utilities operating hard coal power stations as part of Germany's plans to phase out coal by 2038 at the latest to meet climate goals.Conservative and SPD parliamentary representatives said that under the agreement utilities that switch hard coal-powered plants to gas will get a conversion bonus of 390 euros per kilowatt instead of a previously agreed 180 euros.If utilities decided to switch their plants to