6/9/10 - News update from Eddie Proffitt

06.09.2010

Is this the way to bridge the UK’s “Energy Gap”?

The German government has agreed to extend the lifespan of nuclear power plants in exchange for payments to fund alternative energy projects.

Coalition leaders yesterday in Berlin agreed to allow seven reactors built before 1980 to run eight years longer than planned and 10 newer plants to remain open an additional 14 years, said Klaus Breil, the ruling Free Democratic Party energy spokesman, who took part in the talks. That would mean an average extension of 12 years from the original 2022 shutdown date.

“This is definitely a good result that makes good economic sense. Power will remain affordable while renewable energy will get a new kick-start,” Breil said in an interview. “Nuclear power is a bridge technology that we just can’t do without.”

Merkel’s government last week said the nuclear power utilities would pay an atomic fuel tax from next year valued at 2.3 billion euros annually. The companies will also pay 300 million euros in 2011 and 2012, and 200 million euros in subsequent years into an investment fund for renewable energy projects, Breil said.