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Germany rejects subsidies for energy projects, says market can provide
Almost a year after Germany decided to shift away from nuclear power and sharply raise production from renewable sources, critics doubt that the move will go ahead as scheduled. The government has so far failed to present a plan for filling the gap in its future energy capacity, as the switch has proven more difficult than initially thought.
June 5, 2012
by Beate Preuschoff and Franziska Scheven
in Nasdaq
BERLIN--Germany's economy minister and environment minister Tuesday rejected demands for more state subsidies for the construction of new power plants and grid expansion in Germany.
"The market alone is best suited to handle a task of that size," Energy Minister Philipp Roesler said during an energy conference in Berlin.
The ministers are developing a framework to promote alternative energy without relying on government subsidies.
"We have to combine both, an understanding for markets and political responsibility," said Environment Minister Peter Altmaier, a senior ally of Chancellor Angela Merkel, who took over at the ministry last week.
Almost a year after Germany decided to shift... [continue via Web link]
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