Germany to cut energy rebates for industry, renewable subsidies While surveys have shown that a majority of the German public does support renewable energy, there is mounting frustration with the way the government has gone about realising the Energiewende. The cost of renewable subsidies is high, ranging from €22 to 24 billion, according to Gabriel. The German government last week agreed on far-reaching cuts to industry energy rebates and wind power generation. The plan, details of which must still be negotiated, reforms the Renewable Energy Sources Act (EEG) and was introduced by Sigmar Gabriel, the economic minister who is also in charge of energy, EurActiv Germany reports. The governing coalition in Germany, in office for about a month now, has given top priority to reforming the countrys controversial Renewable Energy Sources Act (EEG). On Wednesday (22 January), Germanys cabinet approved previously unexpected cuts to energy price discounts for industry which will affect new and existing power plants as well as companies that generate their own electricity. The EEG legislation was originally meant to support green energy by means of a subsidy making up the difference between the price of renewables and the regular market price. But after rising energy prices in Germany there have been widespread calls to revamp the EEGs effectiveness and have it comply with EU competition law.
Posted on: Fri, 31 Jan 2014 23:40:40 +0000
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