- Title: German parliament passes coal exit bill
- Date: 3rd July 2020
- Summary: GREVENBROICH, GERMANY (FILE - NOVEMBER 14, 2018) (REUTERS) VARIOUS OF BROWN COAL POWER STATION NEURATH GARZWEILER, GERMANY (FILE - JUNE 26, 2020) (REUTERS) VARIOUS OF WORK IN BROWN COAL OPENCAST MINE
- Embargoed: 17th July 2020 13:04
- Keywords: Germany coal phase-out parliament
- Location: BERLIN & GREVENBROICH & GARZWEILER, GERMANY
- City: BERLIN & GREVENBROICH & GARZWEILER, GERMANY
- Country: Germany
- Topics: Government/Politics
- Reuters ID: LVA003CL9AKP3
- Aspect Ratio: 16:9
- Story Text: Germany's Bundestag, the lower house of parliament, on Friday (July 3) passed a bill on the country's exit from coal as a power source to meet climate targets.
The bill involves over 50 billion euros ($56 billion) for mining and power plant operators, affected regions and employees to cushion the impact of the transformation from coal to renewables.
Economy minister Peter Altmaier praised the deal, calling it a defining moment in German history.
"This is an irrevocable beginning of the end of the fossil fuels age," he said in parliament.
"It is a project for generations," he added.
Germany will abandon nuclear energy by 2022 and coal by 2038 at the latest, and will simultaneously aim for 55% cuts in greenhouses gas emissions by 2030 over 1990 levels.
Costs of generating power from renewable sources have become increasingly competitive, and cheap gas is pushing coal out of the fuel mix in a trend that has been enhanced by the political will to drive up the cost of carbon emission allowances.
In the first half of 2020, renewables accounted for over 50% of German power production.
(Production: Deutscher Bundesstag, Martin Schlicht, Ute Swart)
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