Germany needs build new gas and coal fired energy plants to exit nuclear power

German Chancellor Angela Merkel said Thursday Germany needs to add 20 gigawatts of Gas and Coal- fired power-generating capacity to guarantee power supply as the Country completely exits from nuclear power by Y 2022.

The German government previously estimated that it will need 10 gigawatts to fill the gap, as 10 gigawatts in fossil capacity have been planned and will be completed by Y 2013.

The newly planned fossil capacity is even more than the total power produced in Belgium, about 19.6 gigawatts, however, Ms. Merkel still insisted that Germany will reach its target of reducing greenhouse gas emissions by 40% from Y 1990 levels by Y 2020.

But Ms. Merkel did not explain how to realize the goal after increasing fossil fuel capacity and who will be responsible to build those new plants.

The German government unveiled its ambitious plan to shut down all its nuclear power plants by Y 2022 on May 30, which has raised suspicions from German industry and environmentalists.

According to the official data, nuclear energy produces 22.6% of Germany’s electricity, with Coal providing over 42%, Nat Gas 13.6% and renewable energy 17.0%.

Just replacing the first seven closed nuclear reactors with conventional energy would add some 25 million metric tons in CO2 to Germany’s emissions, the International Energy Agency said in May.

There’s no way Germany can meet its climate goals if it bets this heavily on coal and gas, says Michael Mueller, one of the heads of the German Federation for Nature ( DNR).

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

www.livetradingnews.com

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Posted by Shayne Heffernan on Jun 10th, 2011and filed underEquities, Europe, Latest News, Markets.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site