Germany will pay billions to speed up coal-fired power plant shutdowns

In fight against climate crisis, operators will be compensated for early switch-offs

Germany will pay its utility companies billions of euros to speed up the shutdown of their coal-fired power plants as part of the country's efforts to fight climate crisis, the government has said.

The agreement reached between federal ministers and representatives of four coalmining states removes a key hurdle in Germany's plan to curb greenhouse gas emissions over the coming decades.