Monday, August 25, 2025

Latest

German Economy Minister On Extending Nuclear Power Plants: “It Is The Wrong Decision”

German Economy Minister Robert Habeck said on Sunday that extending the life of the country’s three remaining nuclear power plants should be ruled out, given the little gas it would contribute to the state resources as Berlin heads for a much colder winter.

“It is the wrong decision given the little we would save,” said Habeck, a member of the Green party.

The economy minister’s recent pronouncements evoke his earlier contentions against prolonging the dependence on nuclear energy, suggesting building LNG terminals instead. The former administration started the legislation to close down the last of the country’s nuclear power. But recent developments with the tension between Russia and Europe, and the weaponization of energy exports through tightening the gas flow on the Nord Stream 1 pipeline have revitalized the debate on extending the plants’ lives.

Habeck added that opening up the nuclear plants would only save at most 2% of gas usage. After several shutdowns in 2021, Germany currently still has three nuclear power plants running to provide 11% of the country’s electricity.

German Chancellor Olaf Scholz said earlier this month that it might “make sense” to extend the life of the country’s last nuclear power plants to contribute to the nation’s energy sources. The nation’s leader is awaiting the results of the stress test conducted on the reactors to arrive at a decision, but also noting that the technology is problematic based on France’s situation that half of its nuclear plants are offline due corrosion and maintenance issues.

Instead, renewable energy plants would cost less than building new nuclear reactors, leading to lesser rise in energy prices.

Habeck, however, noted that he is open to extending the life of the one nuclear power plant in Bavaria if the stress test results would show that it can ensure the stability of electric supply in winter.

Germany’s nuclear energy policy has been a point of debate among the country’s political parties. Scholz’s own party Social Democrats and the Green Party have opposed extending the life of the nuclear plants while the Free Democrats have been pushing for it.


Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

First Majestic Q2 Earnings: Another Record Quarter

Sandstorm Gold Fades Into Royal Gold Merger

Equinox Gold Q2 Earnings: Back On Track

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Czech Republic to Boost Nuclear Power to 68%, Phase Out Coal in Energy Overhaul

The Czech Republic has submitted an updated national energy plan to the European Commission that...

Thursday, January 9, 2025, 12:59:00 PM

US Energy Opens US$6 Billion Subsidy Program To Keep Nuclear Lights On

The US government is determined to achieve its zero-carbon goals as it looks to provide...

Wednesday, April 20, 2022, 03:38:00 PM

Five-Nation Alliance Exceeds Nuclear Fuel Investment Target by $1.4 Billion

On the sidelines of the 68th International Atomic Energy Agency General Conference in Vienna, leaders...

Thursday, September 19, 2024, 12:17:00 PM

Germany Confirms Nuclear Power Phase Out By 2022, Keeps Two Plants In Reserve Until April

Berlin still hates nuclear, but acknowledges that it has “to prepare for the worst.” Germany...

Tuesday, September 6, 2022, 02:20:00 PM

German Exports to Countries Neighboring Russia Surge Amid Concerns Over Sanctions Circumvention

Exports from Germany to countries bordering Russia have experienced a significant surge in the first...

Wednesday, August 9, 2023, 07:33:00 AM