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

Back to the Cariboo: Gold Rush History Meets Modern Discovery | Golden Caribou

Gold Prices Are High, Experience Matters | Rob McLeod

Silver Is a Wild Animal, Gold Heads for $6,000 in 2026 | Craig Hemke

Recommended

Canadian Copper Plans 2,500 Metre Drill Program For 2026

Mercado Receives Permits For Planned 3,000 Metre Drill Program At Copalito

Related News

Putin Is Annexing Four Ukraine Regions As Russia’s “New Subjects” Following Staged Referendums

Because he seems to be losing the war on the military front, Russian President Vladimir...

Friday, September 30, 2022, 10:09:47 AM

Russia Plans To Test ‘Doomsday’ Nuclear Weapon Near The Ukrainian Border

NATO has reportedly issued an intelligence assessment to its members and allies warning that the...

Wednesday, October 5, 2022, 02:56:21 PM

Russians Have Been Using Starlink In Ukraine ‘For Some Time,’ Intelligence Chief Confirms

More details have surfaced about the use of Starlink terminals in Russian-occupied territory in Ukraine. ...

Friday, February 16, 2024, 03:02:00 PM

US Wants More Nuclear, to Lead Global Initiative at COP28 Summit

The United States is set to lead a global initiative at the COP28 climate summit,...

Thursday, November 16, 2023, 04:22:00 PM

Russia Warns That A Putin Arrest In BRICS Summit Would Be ‘A Declaration of War’

South African President Cyril Ramaphosa has warned that any attempt to arrest Russian President Vladimir...

Wednesday, July 19, 2023, 11:38:00 AM