RWE substantiates claims for billion-euro coal plant compensation

Energy company RWE has substantiated its claims for a high compensation for the decommissioning of its coal power capacity, the Frankfurter Allgemeine Zeitung reports. Company CEO Rolf Martin Schmitz said RWE would claim between 1.2 and 1.5 billion euros for every gigawatt (GW) that is taken off the grid, about twice as much as the company received for shutting down lignite plants and transferring them into the so-called capacity reserve. Schmitz said the higher claims were justified because the company also had to cushion the effects of the end of coal mining. Policymakers are responsible for “committed and reliable” support of the company amid Germany’s coal exit, as proposed by the country’s coal exit commission, he argued. Schmitz said that in the first round of phase-outs, in which 3 GW are slated for decommissioning, RWE would have to axe up to 2,700 jobs by 2023. The chief executive added that the embattled Hambach Forest, which RWE wants to cut down to make room for a nearby coal mine, could be saved, although only at a very high cost. “Symbols come with a price tag,” Schmitz said, adding that it was still uncertain whether saving the forest was technically possible without disrupting the company’s planning.