Germany to phase out nuclear power by 2022

Germany’s ruling coalition has confirmed today the decision recently announced by Chancellor Merkel to phase out all nuclear power plants by 2022. It will turn off 17 of its 26 nuclear plants this year.

These plants currently produce a quarter of Germany’s electricity and the change is expected to push Germany to the forefront of the conversion to renewable energy. Chancellor Angela Merkel said: “To generate the electricity of the future we need to give our energy system an entirely new architecture.”

Shares in two of Germany’s “big four” nuclear power companies fell on the news. But shares in alternative energy companies gained as the government confirmed its intention to double renewable energy to 35 per cent of electricity production over the next 10 years.

Nuclear power currently accounts for less of the UK’s electricity generation than Germany’s (around 18% to 20% compared with 25% for Germany).

Germany has a larger economy than ours, with a bigger share of nuclear.

If they can make the change, why can’t we?

Source: http://www.ft.com/cms/s/0/db203958-8a8d-11e0-b2f1-00144feab49a.html

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