EU Approves $2.8 Billion in State Aid to RWE for Early Closure of Lignite-Fired Power Plants
11 December 2023 - 10:52PM
Dow Jones News
By Pierre Bertrand
The European Commission has approved Germany's plan to
compensate RWE for phasing-out its lignite-fired power plants in
Germany.
The executive arm of the European Union said Monday that
Germany's 2.6 billion euros ($2.80 billion) in aid to RWE was
in-line with EU state aid rules.
The funds relate to the early closure of RWE's lignite-fired
power plant installations in the Rhineland, the commission's
statement said, adding that its decision follows an in-depth
investigation.
The decision, however, doesn't include Germany's other EUR1.75
billion in planned aid for Lausitz Energie Kraftwerke to support
the closure of its lignite-fired power installations in Lausitz,
the commission said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
December 11, 2023 06:37 ET (11:37 GMT)
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