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RWE can receive EUR2.6 billion in German aid for early power-plant closure

( December 11, 2023, 10:45 GMT | Official Statement) -- MLex Summary: Germany has secured European Commission approval for its plan to grant 2.6 billion euros (around $2.8 billion) to RWE Power, to compensate it for the early shutdown of its lignite-fired power plants in the Rhenish mining area of western Germany. The commission said it found that the measure's contribution to climate and environmental goals would outweigh any potential competition distortions. The EU executive said that today's decision doesn't cover the formal probe into a compensation in favor of LEAG, and that it's in continuous constructive contact with the German authorities on that case. The full statement is attached....

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