Power plant subsidies with cutbacks

The German government can probably quickly subsidize new power plants, but to a lesser extent than planned. Yesterday, Economics Minister Robert Habeck announced a preliminary agreement with the EU Commission on how to proceed with the state aid proceedings. The reason for the breakthrough: the tenders would not be evaluated as a contribution to security of supply, but as a contribution to climate neutrality, a ministry spokeswoman told Table.Media. The approval of a so-called capacity mechanism would probably have taken years. However, the German government wants to bring forward the coal phase-out to 2030.