Friday, Aug 28th

LATEST:
You are here: Business Business German industry says energy reform plans threaten jobs

Best_of_2015_587x57_Results

German industry says energy reform plans threaten jobs

BERLIN--German industry has warned that the government's new energy plans jeopardise jobs in Europe's biggest economy, in particular a proposal to make firms that generate their own electricity pay charges to support renewable sources.

Social Democrat (SPD) Economy Minister and Vice-Chancellor Sigmar Gabriel has outlined a much-needed reform to a system of costly subsidies which has helped to fund a boom in green energy in Germany. He is now working on details.

The reform, a delicate balancing act between maintaining growth in the renewables sector and keeping heavy industry on board with affordable power, envisages cuts of up to a third in green subsidies by 2015 but also reduces support for industry.

The Federation of German Industry (BDI) said Gabriel's plans put 900,000 jobs in Germany at risk, according to Welt am Sonntag. In a letter to 900 companies, BDI chief Ulrich Grillo said the existing help given to energy-intensive firms was a condition for companies to stay in Germany.

"In this way (with an additional burden for companies), there will be a risk of companies moving away and that can lead to big job losses," Grillo wrote, according to the paper.

Industry accounts for around a quarter of Germany's export-oriented economy. Last week, ArcelorMittal, the world's biggest steelmaker, warned the energy reforms would prompt companies to scale back investments.

Some members of Chancellor Angela Merkel's conservative bloc in parliament have also demanded changes in Gabriel's plans. "We will certainly not pass Gabriel's blueprint on a reform of the renewable energy law in its current form," senior conservative Peter Ramsauer told Die Welt newspaper.

He said it was "pure madness" to trim benefits for companies that generate their own electricity and added that big employers such as rail operator Deutsche Bahn could be hit.

Until now, producers of power for their own industrial use have been exempted from a surcharge added to power bills which is funnelled to green energy producers and guarantees them a 'feed-in-tariff' above market prices.

European Energy Commissioner Guenther Oettinger urged the German finance minister to reduce energy tax to help German companies stay competitive. Taxes and charges added to consumers' bills for the renewable subsidies make up about half of companies' energy costs, he said.

Image
Midday forecast for Friday
Friday, 28 August 2015
DATE ISSUED: Friday, August 28, 2015 @ 12:00 Lst (16:00 UTC)   VALID UNTIL: ... Read more...
Image
Press release
Friday, 28 August 2015
Carnival Liberty makes Port Call today Friday FOR IMMEDIATE RELEASE: Friday, August 28, 2015 PORT... Read more...
Image
US gives Haitian immigrants extension in protected status
Thursday, 27 August 2015
WASHINGTON, United States--Haitian immigrants in the United States who got Temporary Protected... Read more...
Image
Cuban doctors fleeing ‘shortages & mistreatment’ protest for US visas
Wednesday, 26 August 2015
BOGOTA, Colombia--Deteriorating conditions in Venezuela are causing increasing numbers of Cuban... Read more...
Image
Obama lauds New Orleans' progress since Katrina, says more to be done
Thursday, 27 August 2015
NEW ORLEANS--President Barack Obama on Thursday heralded the progress New Orleans has made... Read more...
Image
Katrina's unclaimed dead conjure memories of her ravages
Wednesday, 26 August 2015
NEW ORLEANS--A decade after one of the most deadly storms in U.S history, Hurricane Katrina's... Read more...
Image
Greek judge appointed caretaker prime minister ahead of elections
Thursday, 27 August 2015
ATHENS--Greece's top Supreme Court judge was sworn in as caretaker prime minister on Thursday to... Read more...
Image
Lorry of corpses, new shipwreck intensify Europe's migrant crisis
Thursday, 27 August 2015
PARNDORF, Austria--As many as 50 corpses were found in a parked lorry in Austria on Thursday, and... Read more...
Image
China official blames Fed for global market rout, not yuan
Thursday, 27 August 2015
BEIJING--The global stock market rout of the past week was sparked by concerns over a possible... Read more...
Image
Wal-Mart to stop selling AR-15 and other semi-automatic rifles
Thursday, 27 August 2015
NEW YORK--Wal-Mart Stores Inc, the United States' top seller of guns and ammunition, said on... Read more...
Image
Excellent attitude
Thursday, 27 August 2015
Dear Editor, On Wednesday, August 26, right in between Danny and Erika, I found myself at the ER of... Read more...
Image
Miss my Mom
Thursday, 27 August 2015
Dear Queenie, My mother died a few years ago after my parents had been married for more than 30... Read more...
Four games slated as Futsal continues Sunday
Thursday, 27 August 2015
PHILIPSBURG--The annual St. Maarten Futsal competiton is scheduled to continue with match day three... Read more...
Image
Watson sizzles at Barclays, Spieth struggles
Thursday, 27 August 2015
EDISON, New Jersey-- Bubba Watson charged into a tie for the first-round lead at The Barclays on... Read more...
Image
Clive Owen makes Broadway debut in Pinter's "Old Times"
Thursday, 27 August 2015
NEW YORK--British actor Clive Owen swaps Hollywood for the stage in "Old Times", making his... Read more...
Image
ABBA piano seen raising money, money, money
Thursday, 27 August 2015
LONDON--The piano used to play the glissando that kicks off ABBA's disco hit "Dancing Queen" will... Read more...
Image
Calling all Models!
Wednesday, 26 August 2015
Model casting for exquisite fashion show If you have the ability to command the catwalk with your... Read more...
Image
'It's like Deja Vu with You"
Wednesday, 26 August 2015
~ Book Launching ~ At 5:30pm this evening, Latoya Lake is launching her book It's like Déjà Vu... Read more...
Editorial - Enough reason
Thursday, 27 August 2015
The islands where this newspaper is distributed were kept pretty busy in the past week dealing with... Read more...
Editorial - Not the answer
Wednesday, 26 August 2015
Today’s meeting of Justice Minister Dennis Richardson with his Dutch counterpart Ard van der... Read more...
Image
Wednesday Aug. 26, 2015
Wednesday, 26 August 2015
Image
Tuesday Aug. 25, 2015
Tuesday, 25 August 2015
Notices August 28
Thursday, 27 August 2015
Saturday, August 29 PET FOOD DRIVE Organised by Pawsitive SXM Place: Le Grand Marche Bush Road... Read more...
Notices August 26
Wednesday, 26 August 2015
Reading Programme Reach out and Read is registering children 7 to 11 on August 29 from 9:30 to... Read more...