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German EUR4.35 billion compensation to RWE, LEAG for early closure of lignite-fired plants faces in-depth EU probe

( March 2, 2021, 10:49 GMT | Official Statement) -- MLex Summary: Plans by the German government to compensate RWE and LEAG, the main producers of lignite-fired electricity, with a total of 4.35 billion euros for the early phaseout of their power plants, will now undergo an in-depth state aid investigation, the European Commission said today. The commission will verify whether the compensation — which covers forfeited profits and mine-rehabilitation costs — is being kept to the necessary minimum, EU competition chief Margrethe Vestager said. At this stage, the watchdog has concerns about whether the measure is proportional.Statement follows....

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