Germany’s Renewable Costs To Pass 100 Billion Euro Next Year

By Paul Homewood

 

http://www.ft.com/cms/s/0/03486cb0-3587-11e3-b539-00144feab7de.html#axzz2iuolr53v

 

From the Financial Times:

 

 

The cumulative total that German consumers have spent subsidising green energy is set to pass €100bn next year, a symbolic mark that could fuel further political debate about the country’s costly energy transition to renewables.

The rising cost of Germany’s energy transition from nuclear and fossil fuels to renewables is set be one of the top items on a new German government’s agenda.

Germany aims to raise the percentage of renewables in its electricity mix to 35 per cent by 2020 and 80 per cent by 2050 – from 23 per cent last year.

Germany’s four network operators revealed on Tuesday that the annual cost to support German renewable energy feed-in tariffs is set to rise to €23.6bn in 2014, from €20.4bn this year.

The surcharge added to German electricity bills to cover the cost of renewables is set to increase 18 per cent to a record high of 6.24 cents per kilowatt hour, the network operators said.

According to a Financial Times calculation the cost of subsidising feed-in tariffs under Germany’s EEG renewables law will therefore have increased to some €109bn since 2000, when the EEG law was introduced. The calculation is based on data provided by the BDEW association of energy and water industries.

http://stopthesethings.com/2013/10/25/germans-on-the-brink-of-power-price-precipice/

 

This comes after a Reuters report from earlier in the year, suggesting that Germany’s transition to renewable energy may cost up to 1 trillion euros ($1.34 trillion) in the next two decades, according to their Environment Minister.