• Germany's news in English
 
Minister reveals power line investment plan
Photo: DPA

Minister reveals power line investment plan

Published: 11 Nov 2012 13:52 GMT+01:00

With a minimum stake of €500, German citizens would be able to invest in the construction of electricity lines to service new renewable power parks, as old nuclear power stations go offline.

This means citizens will have a chance to have their share of the profits "that the energy transition will generate," Altmaier said in an interview with the Tagesspiegel newspaper published on Sunday.

He added that he wanted the scheme to be up and running before the next general election, due in autumn 2013.

Altmaier is plannig to reserve 15 percent of the shares in the new power lines for ordinary citizens, particularly those living in the areas where the lines will be constructed.

The minister is hoping the scheme will take the edge off opposition to the new constructions, since it means some of the profit that energy giants are expecting to make from the transition would go to consumers.

But there are still plenty of misgivings about the new power lines. Southern German states have expressed their concern about being dependent on North Sea coast wind parks for their energy.

Bavarian state premier Horst Seehofer has said he would prefer to invest in regional energy providers, or even make a deal with Russian energy giant Gazprom. Such plans have made some critics sceptical that the expensive north-south power lines will be needed in ten years' time.

The Local/DAPD/bk

The Local (news@thelocal.de)

Your comments about this article

14:59 November 11, 2012 by lucksi
guaranteed five percent return?

Sounds good. Now hand me the 20 page contract that I will sign without reading.
15:36 November 11, 2012 by pepsionice
Considering the fact that you only pull around one percent interest on savings accounts, and two percent on CD's.....this is actually going to attract people. The only issue is that they don't really say when you can get out of the deal. I'm guessing you are signing up for five years minimum.
19:11 November 11, 2012 by smart2012
Energy prices are increasing in Germany thanks to the decision of cutting nuclear power. Solar/wind energy has shown that it was over estimated (lots of solar companies in Germany went already bust, wasting tax payers money). However pre election propaganda is trying to show that this decision has just positive effects, which price wise is completley BS. Just tell it like it is. We did it for the environment, hmmm, or maybe to get the votes of the greens, but financially it is not a great deal (btw France and other EU neighbours are keeping nuclear, so if something will happen in those countries will radiations not impact Germany??? LOL)
19:50 November 17, 2012 by raandy
Where can I get into this investment plan , sounds to good to be true,
Today's headlines
Ethics Council rejects assisted suicide law
Photo: DPA

Ethics Council rejects assisted suicide law

The German Ethics Council said the law should not be changed to permit assisted suicide in a paper published on Friday. READ  

Abandoned themepark needs 14m says Berlin
Swan Lake. An abandoned ride in the Spreewald pleasure park. Photo: DPA

Abandoned themepark needs 14m says Berlin

The iconic ruined themepark in the centre of Berlin - a long-time favourite of hipster adventurers - needs a clean-up costing at least 14 million euros, the Berlin government has revealed. READ  

Police nab Nuremberg station bomb hoaxer
File photo of Nuremberg main station: Shutterstock

Police nab Nuremberg station bomb hoaxer

Officers in Nuremberg arrested a man on Thursday evening after he called in a false bomb threat against the main train station READ  

Opinion
Angela, David...and Nigel
So near...and yet so far Photo: DPA

Angela, David...and Nigel

The rise of UKIP broke up what had been a good 2014 for Cameron and Merkel. READ  

'Dr Death' corpse museum gets go-ahead
Dr Gunther von Hagens. Photo: DPA

'Dr Death' corpse museum gets go-ahead

A Berlin court has said that infamous human taxidermist Gunther von Hagens can open a museum in the capital - over objections from local officials. READ  

Presented by Phorms Education
Phorms bilingual schools boast top-notch tech
Photo: Phorms Education

Phorms bilingual schools boast top-notch tech

As parents fret over children’s internet habits, a network of bilingual schools in Germany shows that putting computers in the classroom from an early age yields positive results. READ  

Networks scramble to patch mobile security
Chancellor Angela Merkel has herself been the victim of phone hacking. Photo: DPA

Networks scramble to patch mobile security

IT experts led by Berlin-based Karsten Nohl said on Thursday they had discovered security flaws in the mobile phone networks that would allow attackers to read users' messages. READ  

Turkish 'spies' arrested at Frankfurt airport
Photo: DPA

Turkish 'spies' arrested at Frankfurt airport

Three men suspected of being Turkish agents have been arrested by police, federal prosecutors said on Thursday. READ  

Tax take jumps 7.3 percent in November
Finance Minister Wolfgang Schäuble is having an excellent month. Photo: DPA

Tax take jumps 7.3 percent in November

Germany collected 7.3 percent more in tax in November 2014 than the same month last year thanks to the strengthening economy, the Finance Ministry said in its monthly report on Thursday, while pollsters found rising consumer confidence. READ  

Ramelow bunks off his first Bundesrat sitting
Bodo Ramelow looking low on energy at a sitting of the Thuringia state parliament. Photo: DPA

Ramelow bunks off his first Bundesrat sitting

Controversial new Thuringia minister-president Bodo Ramelow of the Left (Linke) party missed his first session of Germany's second house of parliament, the Bundesrat, to go on holiday with his family. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Willy Brandt at his inauguration in 1972. Photo: DPA
National
Willy Brandt: the man, the chancellor... the airport?
Dresden skyline and river by night. Photo: DPA
Politics
What does Dresden have against Muslims?
Sponsored Article
Why are these International Baccalaureate students cheering?
Germany's national football team lifts the World Cup trophy
Gallery
Germany's most-Googled words of 2014
National
Why has The Local got a new logo?
Photo: DPA
National
This German was abducted and tortured by the CIA
Culture
10 top tips for partying in Germany
Sponsored Article
Top ten gifts for an expat Christmas
Photo: DPA
Technology
What does the Chancellor see as the future of the internet?
Photo: DPA
Culture
Stuff your face with these festive German cookies
Photo: DPA
Culture
What do beer, breakfast cereal and dildos have in common?
Culture
The Local's guide to German Christmas markets
Sponsored Article
Top five quirky Christmas jumpers
Photo: DPA
Culture
Get ready for Christmas like a German. We tell you how.
Photo: DPA
Munich
She did what with her dead mother?
Photo: DPA
National
Germany still paying for crisis fall out
Photo: DPA
Culture
Saxon wurst is the worst, Christmas market declares.
Photo: DPA
Politics
Can 'sorry' ever be enough for the Linke?
Sponsored Article
Shop Christmas gifts at Debenhams international store
Photo: DPA
Berlin
The Local's series on 25 years since the fall of the Berlin Wall
Shutterstock
Sponsored Article
Offer: Unlimited airmiles through December 19th
Photo: DPA
Gallery
See how Berlin has changed in 22 photos
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,197
jobs available
The Local Spain is hiring!
The Local is seeking a new editor for our site in Spain to join our growing team of internationally-minded, driven, ambitious and clued-up journalists.
Details and how to apply
Toytown Germany
Germany's English-speaking crowd