EU Probes Germany's Compensation for RWE Amid Phasing Out of Coal
02 Marzo 2023 - 6:21AM
Noticias Dow Jones
By Giulia Petroni
The European Commission is investigating Germany's revised
calculations for the compensation of power operator RWE AG during
the phase-out of lignite-fired plants in the Rhenish mining
area.
The European Union's executive arm said on Thursday that the
inquiry concerns an amendment to an agreement signed between the
government and RWE. The amendment includes postponement of the
final closure of two plants to March 2024 from end of 2022 and
anticipation of the final closure of three other plants to 2030
from 2038, with the original compensation of 2.6 billion euros
($2.8 billion) remaining unchanged.
"The commission's preliminary view is that the compensation to
RWE continues to constitute state aid," the EU Commission said.
"However, the revised calculation of RWE's forgone profits
submitted by Germany appears more conservative compared to the
previous calculation."
The inquiry is part of an continuing in-depth investigation that
the EU opened in March 2021 to assess whether Germany's plan to
compensate power operators for the early closure of their
lignite-fired power plants was in line with the EU's state-aid
rules.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 02, 2023 07:06 ET (12:06 GMT)
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