German Nuclear Policy Implications
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By Dave Brown – Exclusive toUranium Investing News
On May 30, the German government announced its decision to close all its nuclear reactors by2022, a critical decision that could have considerable implications. According to the International Monetary Fundand the World Bank, Germany’s economy represents the fourth largest in the world. Last year, nuclear power was responsible for 23 percent of the German domestic energy mix. On Friday, Chancellor Angela Merkel agreed with state premiers on a phased exodus plan of nuclear power and to stick to plans to more than double the share of renewables to 35 percent by 2020. The changes to power grid expansion plans and the subsidy system for renewable energy, such as solar and wind, must be approved by both chambers of parliament in order to confirm the change of course on energy strategy by the parliamentary summer break in July.
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