Energy Commissioner: “process of de-industrialization in full swing”

March 10, 2011 | CFACTEU | Comments 0 |

German electricity prices a barrier to business

EU Energy Commissioner Günther Oettinger has told the German government that its taxes and fees on electricity have doubled since 1998, now stand at 41 percent and will continue to increase due to subsidies for alternative energy. Oettinger warned that this has moved the gradual process of de-industrialization into full swing and is forcing business and industry to flee the country. German electricity costs were described as at the upper edge of what is socially reasonable. How much more will German ratepayers tolerate before they reach their breaking point?