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German energy reforms could cost 1 trillion euros: minister

Tue, 02/19/2013 - 11:25pm
Reuters

BERLIN (Reuters) - Germany's energy reforms threaten to cost up to 1 trillion euros, though caps on subsidies to renewable power producers and cuts in feed-in tariffs should rein in costs, Energy Minister Peter Altmaier said in an interview.

The 'Energiewende' - Germany's shift from nuclear energy towards renewable sources - has led to high levels of subsidies, which have been blamed for price rises for consumers and for undermining German competitiveness in world markets.

"The costs of our energy reform and the restructuring of our energy provision could amount to around 1 trillion euros by the end of the 2030s," Altmaier told the Frankfurter Allgemeine Zeitung, in an interview published on Wednesday.

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