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Minister reveals power line investment plan
Photo: DPA

Minister reveals power line investment plan

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

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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,
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