German cabinet backs €4.3 billion for utilities over brown coal phase-out

BERLIN/FRANKFURT (Reuters) - Chancellor Angela Merkel's cabinet on Wednesday approved a €4.3 billion (£3.9 billion) compensation package for utilities operating lignite power stations as part of Germany's plans to phase out coal by 2038 at the latest to meet climate goals."Even in the (coronavirus) pandemic we are insisting on strong climate protection," Finance Minister Olaf Scholz said. "Today we took a major step on the path to this goal." The size of the package was agreed between..