Germany’s Energy Mess Intensifies: Power CEO Warns Of Further “Rising Prices”

From NoTricksZone

By P Gosselin

Blackout News: “EON chief warns of a cost explosion due to transition to green energies.” 

Blackout News here reports that there’s no end in sight for Germany’s self-inflicted energy crisis. Energy prices are expected to continue rising, thus posing a huge risk to industry.

This is of course no surprise as Germany, driven by radical green dogmatism, has shut down its fleet of nuclear power plants and is moving to also eliminate power plants fired by coal and natural gas. The country’s economy and environmental policy is led by economics minister Robert Habeck.

The problem is that Habeck is woefully unqualified for leading the country’s federal economics ministry.

In 2000,Habeck received his doctorate in literature and philosophy at University Hamburg, and has no experience in any fields of economics, business, engineering or energy.

Recently Habeck claimed that companies do not go bankrupt, rather they just stop producing, and that the economy was okay – “only the numbers are bad”.

EON chief warns of further rising energy costs

At the beginning of the year, head of Eon, Leonard Birnbaum, announced higher electricity prices and this is “now manifesting itself in reality,” reports Blackout News. “A few weeks after this forecast, energy companies EnBW and EWE announced their intention to increase tariffs.”

The increase will average 6%.

Birnbaum blames “increased investment costs” as the expansion of renewable energies and their integration into the electricity grid requires “rapid and intelligent grid expansion as well as sufficient reserve capacity”.

“In view of current developments, Birnbaum warns of further price increases if the political leadership does not take decisive countermeasures. Energy-intensive industry in particular is severely affected by rising electricity costs, which jeopardizes its competitiveness.”

Birnbaum also says that wind energy has been hampered by “uncoordinated planning” and “the problem of overloading the electricity grids due to the uneven distribution of wind turbines.”