• 5 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 hours WTI @ $75.75, headed for $64 - 67
  • 3 mins Censorship has a price: Google’s CEO Defends Potential Return to China
  • 1 hour Gold price on a rise...
  • 34 mins Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 18 hours China Is the Climate-Change Battleground
  • 8 hours Can the World Survive without Saudi Oil?
  • 8 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 2 hours Saudis Threaten Retaliation If Sanctions are Imposed
  • 21 hours Sears files Chapter 11
  • 2 hours $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 22 hours Natural disasters and US deficit
  • 2 hours Who's Ready For The Next Contest?
  • 18 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
Why Crypto Miners Are Paying Attention To The Permian

Why Crypto Miners Are Paying Attention To The Permian

The Permian is literally burning…

Carbon Pricing Won't Kill Big Oil

Carbon Pricing Won't Kill Big Oil

Big oil has agreed to…

Costs of Shuttering Germany’s Nuclear Plants Deemed High

In the wake of the 11 March Fukushima nuclear meltdown, Germany’s Bundestag handed its green movement its biggest victory yet, passing a resolution to close virtually all 17 of the nation’s nuclear power plants. Seven plants were immediately closed, an eighth was offline at the time of the resolution with technical problems, while the remainder are to be passed out by 2022.

The seven nuclear power plants immediately shut down after Fukushima include Biblis A and B, Neckarwestheim 1, Brunsbuettel, Isar 1, Unterweser and Philippsburg 1 and will not be reconnected to the national power grid, while the offline reactor in Kruemmel will be decommissioned, Sueddeutsche Zeitung reported. The Federal Grid Agency will decide over the next few months as to whether a single nuclear power plant is to remain on standby until 2013 in the event of unexpected electricity shortages. With the possible exception of a reactor remaining on standby, the remaining nine will be shut down by 2022: Grafenrheinfeld in 2015, Gundremmingen B in 2017, Philippsburg II in 2019, Grohnde, Brokdorf, and Gundremmingen C in 2021, Isar II and finally Neckarwestheim II, and Emsland in 2022.

Germany’s new energy policies will depend on the installation of new renewable power capacities with an amendment to the Renewable Energies Act stipulating the doubling of the nation’s share of green power to 35 percent minimum no later than 2020 with an especial emphasis on offshore wind farms. The government has offered to make available $7.26 billion in loans through the Reconstruction Loan Corporation (KfW) for the construction of the first 10 wind farms. German consumers already contribute approximately $18.8 billion in subsidies to green energy providers through their electricity rates.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News