German nuclear phase-out threatens emissions target

Germany’s plan to phase out nuclear energy will make it miss its CO2 emission targets, raise electricity prices, cause more blackouts and “dramatically” increase Berlin’s dependence on imported Russian gas, an independent study has warned.

The 60-page paper by Deutsche Bank is a serious indictment of chancellor Angela Merkel’s decision, despite personal misgivings, to stick to the phase-out deal agreed by the previous government in 2000.
It will add to the increasingly acrimonious debate within the government about the wisdom of renouncing nuclear energy amid rising concern about global warming and the safety of energy supplies.

Michael Glos, the economics minister and a political ally of Ms Merkel, has campaigned vigorously for a revision of the nuclear phase-out deal, triggering equally vigorous opposition from Sigmar Gabriel, the Social Democratic environment minister.

The paper also highlights the quandary facing the chancellor, who would have to choose between the three key goals of Germany’s energy policy – to reduce emissions, to cut reliance on Russian fossil fuel, and to keep energy prices in check.

Financial Times