European business news recently announced the latest German government initiative to decarbonize its nation’s electric power generation by closing all coal fired generating stations by 2038. The plan received the usual mixed reception. Power generators claimed this latest initiative would cost them money while environmental groups said that the closures come too slowly. The government boasted it was getting Germany out of both nuclear and coal-fired generation at the same time having previously announced closure of the nuclear generation fleet. The government’ goal, incidentally, is for renewable resources to generate 65% of the nation’s electricity by the end of this decade. The Germans set up a committee that talked to all sides to fashion an eminently practical means to defuse the enormous opposition to closing coal stations especially in areas that rely on mining. The government ultimately promised a €40 billion package of payments and benefits to the affected […]