LEAG to receive €1.75 billion for early closure of power plants — Der Spiegel

In Germany, energy company LEAG is to receive €1.75 billion for the early closure of old coal-fired power plants. The company generates electricity in Lusatia.

Funds for conversion

As Der Spiegel reports, LEAG will also receive funds to convert these power units into gas-fired power plants. Thus, payments are envisaged for old coal-fired capacity both for the early cessation of operations and for its conversion.

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The commentary author’s assessment

The Der Spiegel material is a commentary by Stefan Schulz. The author raises the question of whether the combination of compensation for the early closure of coal-fired power plants and funding for their conversion to gas can comply with legal requirements.

This is the commentary author’s assessment, not an established legal conclusion. The available description of the publication does not provide details on the amount of funds for conversion or the timeline for carrying it out.