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Germany gets informal EU's go-ahead to support gas-fired power, sources say

Germany won the European Union's (EU) casual nod to pay billions of euros to gas powered plants to be able to stabilise the grid when unstable renewable energy products fail, people knowledgeable about the settlements told on Friday.

A contract in principle was reached with the EU's. competition authorities for state assistance to energies for the. 10 gigawatt (GW) plan but some information for an official. approval are to be hammered out over the next few weeks,. government and business sources said.

They included that the German federal government protected a contract. to a set of terms that will alter gradually as the long-lasting. scheme, which is called the National Power Station Strategy,. develops.

Berlin expects to receive an EU document describing the. casual contract on Friday, the sources said.

The German economy ministry did not verify an agreement,. and said that excellent progress had actually been made in EU talks.

The EU Commission stated it is in close and useful. discussions with the German authorities however would not further. talk about details or timing.