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Merkel’s Atomic Energy Overhaul May Aid Industry at Expense of Consumers

Bloomberg

31 May 2011

Chancellor Angela Merkel may rely on German consumers to shoulder the cost of exiting nuclear power as she seeks to shelter companies whose exports are driving growth in Europe’s biggest economy.

Merkel’s coalition will shut 17 atomic plants by 2022 under a plan outlined yesterday, tilting the energy mix toward renewables following the disaster in Japan.

The decision prompted the VIK lobby group to predict a 225- euro ($321) a year increase in power bills for a three-person household, based on a forecast from a committee advising the government that wholesale power prices may rise as much as 85 percent from now.

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