Sunday, Mar 29th

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
WIPM government to focus on constitutional evaluation
Friday, 27 March 2015
SABA--The new Island Council of Saba was sworn in Thursday. The outgoing Island Council had its... Read more...
Social services taking Vrolijk case in hand
Friday, 27 March 2015
MARIGOT-- Vice-President Ramona Connor confirmed the Collectivité's social services has refocused... Read more...
Image
‘Exciting times’ for Suzuki Caribbean
Friday, 27 March 2015
BRIDGETOWN, Barbados--Two new one-make circuit racing championships that look set to revolutionise... Read more...
Image
EU, Cuba to speed up talks to normalise ties
Thursday, 26 March 2015
HAVANA, Cuba--The European Union (EU) says it has agreed with Cuba to expedite the pace of... Read more...
Image
Reid to retire, wants Schumer as next leader
Friday, 27 March 2015
WASHINGTON--U.S. Senate Democratic Leader Harry Reid said on Friday he will retire next year and... Read more...
Image
Amanda Knox acquitted of murder by Italy's top court
Friday, 27 March 2015
ROME--Italy's top court on Friday annulled the conviction of American Amanda Knox for the 2007... Read more...
Image
Torn-up sick notes show crash pilot should have been grounded
Friday, 27 March 2015
DUESSELDORF, Germany--German authorities said on Friday they had found torn-up sick notes showing... Read more...
Image
At least 10 killed in Shebaab raid on Somalia hotel
Friday, 27 March 2015
MOGADISHU--At least 10 people have died in an attack by Somalia's Al-Qaeda-affiliated Shebaab... Read more...
Image
Bank of England flags market concerns
Friday, 27 March 2015
LONDON--The Bank of England is warning about potential irregularities in financial markets on a... Read more...
Peugeot French production hike earns presidential visit
Friday, 27 March 2015
PARIS--PSA Peugeot Citroen said on Friday it had chosen a French factory over a rival Spanish plant... Read more...
Image
Déja vu
Friday, 27 March 2015
Wow, that is really strange. I am totally sure I have had this very same experience sometime... Read more...
Image
Not ready for kids
Friday, 27 March 2015
Dear Queenie, My boyfriend has started telling me it’s time for me to have a baby for him to... Read more...
Image
Kane scores on debut as England thrash Lithuania
Friday, 27 March 2015
LONDON-- England's Harry Kane scored on his debut less than two minutes after coming on as they... Read more...
F-1’s Hamilton fastest despite engine issues
Friday, 27 March 2015
SEPANG, Malaysia-- Lewis Hamilton recovered from a frustrating morning session to lay down a marker... Read more...
Image
Vietnam's collectors keep war memories alive, with bullets, bombs and dogtags
Friday, 27 March 2015
HANOI--Grubby satchels, helmets, rusty knives and chunky radios are strewn around Dinh Van Loc's... Read more...
Image
Two new accusers say Bill Cosby drugged, sexually assaulted them
Friday, 27 March 2015
LOS ANGELES--Two more women came forward on Friday accusing veteran comedian Bill Cosby of drugging... Read more...
Image
Young boxers training on Kim Sha Beach
Friday, 27 March 2015
~ Alexander keeps gloves on, sees future boxing champs ~   Claudette Alexander is a boxer. She... Read more...
Image
Latoya Lake debuts first novel
Friday, 27 March 2015
It's been said that every person has at least one novel inside of them. Considering the ease with... Read more...
Editorial - Effective approach
Friday, 27 March 2015
With the signing of a protocol (see Friday paper), long-talked-about and much-needed improvements... Read more...
Editorial - Essential step
Friday, 27 March 2015
Today's news that government finally has approved the so-called "function book" for the police and... Read more...
Image
Saturday Mar. 28, 2015
Friday, 27 March 2015
Image
Friday Mar. 27, 2015
Friday, 27 March 2015
Notices March 27
Friday, 27 March 2015
Saturday March 28 CAR WASH Organised by University of St. Martin Ambassadors group. Proceeds of the... Read more...
Notices March 26
Wednesday, 25 March 2015
Report Card Sundial School makes known that students' Term 2 Report Card can be picked up on... Read more...