Politics
German $55 Billion Plan to Scrap Coal Clears Cabinet Hurdle
- German coal exit may cost taxpayer over $55 billion by 2038
- Over 40 gigawatts of coal power to close, fifth of capacity
Photographer: Krisztian Bocsi/Bloomberg
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Chancellor Angela Merkel’s cabinet approved legislation that sets out the timetable to close more than 100 coal power plants across Germany, cementing the essence of a program to make Europe’s biggest economy greener.