by Schmitt Trading Ltd, Feb 11, 2022
This overhasty and ideologically charged energy policy is clearly reflected above all in the rapidly rising electricity prices. In parallel, the price of gas has quadrupled and German gas storage facilities are at an all-time low.
This is not only what I say, but also what the Wall Street Journal says. This overhasty and ideologically charged energy policy is clearly reflected in the rapidly rising electricity prices. Currently, we consumers pay 0.346 Euros per kWh, which is the highest electricity price in the world. And the trend is still rising, because at the end of 2021, three of the last six nuclear power plants and several coal-fired power plants in Germany will also be shut down as part of the hasty energy turnaround, further exacerbating the overall situation. In parallel, the price of gas has quadrupled and German gas storage facilities are at a low. In addition, the North Stream 2 gas pipeline has been put on hold for the time being and the country is engaged in dangerous verbal sparring with Russia, on which it is largely dependent. So all in one suboptimal.
The head of the Kiel Institute for the World Economy, Prof. Dr. Stefan Kooths, also attests to the failure of politics and that it is lying into its own pocket – all this at our expense. Not only are we endangering the country’s security of supply, but also our competitiveness.
The energy turnaround – a costly wrong decision