Germany has agreed on Friday to compensate energy companies with around €2.4 billion ($2.9 billion) for their losses as the country phases out nuclear power, ending years of litigation. Berlin had announced an end to nuclear power in Germany following the Fukushima disaster that hit Japan in March 2011. This came just months after Chancellor Angela Merkel’s government of the time had finished signing new deals with nuclear power operators extending their running times.
What is the payout? The payout compensates companies for residual electricity volumes that they can no longer generate and their investments that were affected by Merkel’s decision. Nuclear energy …
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