Chancellor Merkel says clean-energy policy must allow profit at gas plants
Germany’s Chancellor Angela Merkel said the country’s system to spur clean-energy generation needs to change, including reducing green subsidies paid by consumers, to ensure gas-fired plants are able to operate at a profit. National and state leaders “in the next months and at least one to two years” need to find a way to change the so-called EEG law on subsidies, Merkel told a conference in Frankfurt late Wednesday. Merkel has been trying to prevent a voter backlash as costs to expand clean energy surged after the country sought to more than triple the share of renewables in its power mix by 2050 while phasing out nuclear generation.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.