Deutsche Bank Warns Merkel Of Missing CO2 Targets W/O Nuclear Plants - FT

[hatrack]

Germany will miss its CO2 emission targets, face rising electricity prices and become “dramatically” more reliant on Russian gas if it keeps to its policy of phasing out nuclear energy, a new study warns. The 60-page paper by Deutsche Bank will add to the pressure on Angela Merkel, chancellor, to renegotiate the phase-out deal agreed by the previous government in 2000, despite her pledge not to reopen the controversial debate.

Rising concern about global warming and energy security has sparked a lively dispute in Ms Merkel’s Christian Democrat-led grand coalition government about the wisdom of renouncing nuclear energy. Michael Glos, the conservative economics minister, has campaigned vigorously against the phase-out, triggering equally vigorous opposition from Sigmar Gabriel, the Social Democratic environment minister.

Without nuclear energy, the bank says, the chancellor faces a painful choice between the three goals she has set herself – to reduce emissions, cut reliance on Russian fossil fuel and keep energy prices in check.

“Shutting down nuclear is inconceivable as a serious policy,” said Mark Lewis, energy analyst and author of the report. “It will mean missing your carbon emission targets and lead to gas-powered plants replacing today’s nuclear plants.”

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http://www.ft.com/cms/s/aa778212-aa17-11db-83b0-0000779e2340,dwp_uuid=728a07a0-53bc-11db-8a2a-0000779e2340.html

[Moby Grape]

1. this is rubbish

the wobbly German minority gov't,

will be lucky to stay in power
and pass a budget

reducing emissions, not much of a priority