Germany abandons nuclear power – good and bad news says BPF
Friday, 3 June 2011
The BPF has received Germany’s shock announcement to close all its nuclear power plants over the next 20 years with mixed feelings.
Hailed the ‘economic engine of Europe’, Germany is a major manufacturing economy and depends currently for 23% of its electricity on Nuclear Power. It is estimated that closing the nuclear power stations will increase energy bills by 30% over the next decade.
According to Peter Davis, Director-General of the BPF, a steep rise in energy cost may present business opportunities for other markets. He said, “this could drive car assembly and energy intensive industries such as chemicals to lower cost countries, and might be an opportunity for the UK.”
In a stark warning Davis said, “Germany will also need to suck in huge extra amounts of fossil fuel thus raising the prices across Europe for everyone. It’s important the UK speeds up the replacement of our ageing nuclear reactors.”
