The European Union approves the new German Renewable Energy Law
EU said yes to the Approval of Germany’s New BRUSSELS, fact that took place on Wednesday. The recent law was made with the purpose of helping Germany to not depend on nuclear and fossil fuel-generated power.
A few weeks ago, the European Commission reported that it had given backing to the plans after Berlin agreed to make some amendments to the law.
Earlier this month, the European Commission said The new law “paves the way for more market integration of renewables,” words belonging to Joaquín Almunia, the European Union’s antitrust commissioner.
“In the medium term, this should lead to lower costs for consumers. Also the progressive opening up of tenders to operators located in other member states is a very positive development for the internal energy market.”
The EU was worried that some companies from Germany in the green energy industry could have taken advantage of subsides. Moreover, the also think that a surcharge necessary for imported electricity equated to a customs duty and violated the bloc’s internal market regulations.
As a fallow-up, the German country was on board with letting foreign companies that import green power to benefit from the same advantages as Germany-based companies that deliver power domestically.
Germany’s energy and economics minister, Sigmar Gabriel, accepted the EU decision Wednesday, believing it will represent a beginning for further development of green energies and implementation of the “energy revolution,” an alternative to nuclear and conventional power sources.
“Companies in Germany are also being provided with the framework conditions to maintain our jobs and serve to strengthen industry in Europe,” Mr. Gabriel reports.
The German bill trims subsidies for new renewable power plants that vary from big wind farms to little solar panels situated on homeowner’s roofs. In addition to this, the power-price surcharge is booming as it has funded these subsidies more equally among businesses. The majority of firms had previously been exempt for reasons like operating energy-hungry industries or decided to put together their own power plants.
This law is valid starting next month and the yearly support can reach €20 billion.
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