Germany Mulls Extending Lifespan of Nuclear Power Plants as EU Energy Crisis Worsens

It appears that Germany may soon be forced to do a sheepish 180-degree U-turn on its green energy policy, and extend the lifespan of its remaining nuclear power plants in an effort to avert a full-blown energy crisis in the region.

German Chancellor Olaf Scholz signalled he is open to extending the lifespan of the country’s three nuclear energy plants, in an effort to secure its energy needs amid growing uncertainty surrounding the Ukraine conflict. “The economy minister has commissioned an intensified worst-case scenario calculation. Let’s have a look at that,” Scholz said, referring to the German government’s previous decision to shut off the nuclear facilities by the end of the year.

German economy minister Robert Habeck recently delegated a new stress test for the country’s energy infrastructure, after a previous analysis estimated that energy supply wouldn’t be in peril come next winter even in the absence of nuclear energy. “We will once again calculate now and will then decide on the basis of clear facts,” with respect to extending Germany’s nuclear power capabilities, explained a government spokesperson as cited by Bloomberg.

Up until now, the Green Party has held an adamant stance against expanding the lifespan of the three nuclear power plants, citing high refurbishing and environmental costs. Instead, Habeck has been a strong proponent of building a new LNG terminal that would accept natural gas shipments from the US or other international destinations aside from Russia. In addition, he also insisted that Germany bolster its solar and wind energy infrastructure, as well as keep coal-powered plants on standby for a rainy day.


Information for this briefing was found via Bloomberg. 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

How to Still Find 10-Bagger Gold and Silver Stocks | Don Durrett

First Majestic Silver: Jerritt Canyon Is BACK!

Canada May Finally Be Backing Its Battery Supply Chain | John Passalacqua – First Phosphate

Recommended

Kirkland Lake Discoveries Drills 39.35 g/t Gold Over 16.4 Metres As Mirado Continues To Grow

Antimony Resources Expands Footprint as Soil Sampling Lights Up Ground South of Bald Hill

Related News

Estonian Parliament Clears the Path for Nuclear Power

The Riigikogu, or the Estonian Parliament, on Wednesday passed a resolution supporting the adoption of...

Thursday, June 13, 2024, 02:56:00 PM

Russia Will Limit Retail Investor Access To Shares From ‘Unfriendly’ Countries

Beginning October 1, the Bank of Russia will apply restrictions on retail investors’ access to...

Monday, September 12, 2022, 09:33:59 AM

Desperate for Cannon Fodder, Russia Will Grant Citizenship to Foreigners Who Join Its Army

Russian President Vladimir Putin has signed a decree allowing foreigners who entered into contracts with...

Tuesday, January 9, 2024, 06:41:00 AM

Alberta Signs Third Small Modular Nuclear Reactor Deployment Agreement

The Korea Atomic Energy Research Institute (KAERI) and the Government of Alberta have signed a...

Friday, April 21, 2023, 11:54:00 AM

Drone Attacks Force Russia to Import Five Times More Gasoline from Belarus

Russia has dramatically increased its imports of gasoline from Belarus in March, according to industry...

Thursday, March 28, 2024, 12:49:00 PM