Utility RWE AG (DE: RWEG_p ), Germany's biggest coal-fired power producer, will receive 2.6 billion euros in payments, according to a person familiar with the matter. Lignite operators in eastern Germany will receive 1.75 billion euros, German Finance Minister Olaf Scholz said at a press conference in Berlin. A spokesman for RWE declined to comment on the compensation sum, adding the company would comment later Thursday. RWE's stock gained 1.7% in early Frankfurt trading to hit its highest level since October 2014. "It was a long night -- it lasted until 2 a.m. -- but we were able to achieve a sensible agreement," Armin Laschet, premier of the state of North-Rhine Westphalia, said in an interview with Deutschlandfunk radio. "The time frame that we've agreed on is ambitious, but realistic." Laschet estimates that around 3,000 jobs in his state will be affected by the closures. The premier also confirmed closures will take place more rapidly in west German states.