Germany to accelerate power market reform, minister says

  • 📰 Reuters
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Germany will do most of the work this year to prepare its power market for greater reliance on renewable supplies by the end of the decade, Economy Minister Robert Habeck said on Monday.

Habeck aims to overhaul the 550 terawatt hours a year market as demand increases and production shifts to more intermittent sources as Europe's biggest economy moves away from fossil fuels under its climate commitments.

"We will do most of the necessary work in 2023," he said at a consultation meeting on power market reform. Berlin's goal is to generate 80% of electricity from wind and the sun by 2030, a target that has become more pressing since the drop in Russian fossil fuel exports to Germany last year. To back up swings in green power as more reliable nuclear and coal production is phased out, the government will prepare tenders for gas-fired power capacity, Habeck said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

they don't even have enough power to shave

Wow, finally they're getting around to it. 🙄

😱 please save us from this government. Wishful thinking is not idealism. It is self-indulgence at best and self-exaltation at worst. In either case, it is usually at the expense of others. In other words, it is the opposite of idealism. Thomas Sowell

'Creating alternative baseload will be a specific challenge,' the minister said. 'In a way, it will be like teaching an elephant how to dance.' So, to make the dance possible, the average German will suffer.

Doubling down on stupid. 80% solar and wind? All through developing nonexistent hydrogen power plants? Interesting that the writer of this article documents that nuclear power is more stable and reliable than wind, solar or hydrogen. Germany does not care about electricity prices

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Space race taking Texas economy to new heights - Dallas Business JournalWith more than 138,000 professionals in the fields at more than 1,800 installations across the state operated by 18 of the world’s top 20 aerospace manufacturers, Texas was found to be best equipped foster defense and aerospace growth, according to a recent report from PwC.
Source: DallasBizNews - 🏆 525. / 51 Read more »