• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 4 days Wind droughts
  • 2 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 7 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 hours ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 3 hours Xi Is Set To Be Re-Elected As China’s Leader
  • 5 days Oil Prices Fall After Fed Raises Rates
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 19 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 13 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 10 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 13 days The Federal Reserve and Money...Aspects which are not widely known
The Best Ways To Play The Great Uranium Comeback

The Best Ways To Play The Great Uranium Comeback

After languishing in a bear…

Is The Nuclear Waste Problem Overblown?

Is The Nuclear Waste Problem Overblown?

Political support for nuclear energy…

ZeroHedge

ZeroHedge

The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Germany Is Finally Rethinking Its Position On Nuclear Power

  • Germany, which was planning on shutting down its nuclear plants, is now rethinking its decision.
  • German Economic Minister Robert Habeck is pushing to keep the plants online for longer.
  • German power prices surged above 500 euros per megawatt-hour on the European Energy Exchange AG.

It sure looks as though momentum is all of a sudden getting behind nuclear power, with even NPR coming out and writing yesterday that "resistance to nuclear power is on the decline worldwide — and environmentalists helped lead the push."

Now, with energy prices going parabolic in his country, German Economy Minister Robert Habeck is once again pushing nuclear power plants that were set to be shut down to stay on the grid for longer, Bloomberg reported yesterday. 

The ministry is looking at a potential draft law to facilitate the extension, Bloomberg noted, citing Der Spiegel. It has also changed the parameters for stress tests on the country's energy security which would make prolonging the reactors a viable option. 

Recall, in mid-August, we wrote that Germany was considering the idea of keeping the plants online. 

The country has been mulling over the idea of extending the life of its nuclear power plant fleet for months as the 'wait and see' approach of Russia actually increasing Nord Stream 1's NatGas capacity to normal levels ahead of winter is a dangerous one.

As German power prices surged above 500 euros per megawatt-hour on the European Energy Exchange AG for the first time as the energy crisis worsened, WSJ reported two weeks ago that the largest economy in Europe would "postpone" the closure of its last three nuclear power plants.

Three senior government officials told WSJ that the decision to extend the life of its nuclear power plants has yet to be formally adopted by German Chancellor Olaf Scholz's cabinet and will still need a parliamentary vote. 

However, following the WSJ report that indicated Germany plans to postpone the closure of its last three nuclear power plants, the German spokesperson for the Federal Ministry for Economic Affairs and Climate Action said the media report about extending the life of nuclear plants "lacks any factual basis." 

We wonder if Germany would like to revisit this statement now? We noted a couple weeks ago that the country has about three months to save itself from a winter energy crisis.

By Zerohedge.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News