German energy reform to slow price hike

By Melissa Lesh

15 April 2014 at 08:28 BST

Chancellor Angela Merkel's main cause is to increase renewable energy in Germany, and a law controlling the rise in electricity costs will help Merkel's coalition accomplish the task.

Chancellor Angela Merkel's aims to increase renewable energy in Germany, by introducing a law controlling the rise in electricity costs gguy

The recent boom in Germany’s renewable energy market has led to inflation in electricity costs, but the reform will slow the growth of green energy, thereby reducing the cost of electricity and creating a balance between renewable energy growth and big, energy-reliant industries.  Energy Minister Sigmar Gabriel said: 'Some 100 days after the start of the new government we have given the energy shift a new start.'

Many jobs secured

According to the new government’s plan, by 2025, 40-45 per cent of total electricity will be produced via renewable sources.  Environmentalists are unhappy about the energy slow-down, but big businesses are relieved.  Utz Tillmann of chemical lobby VCI said: 'Many jobs in the third-biggest industrial sector have been secured, as extremely high additional costs have been avoided.'  Source: Reuters   


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