• Germany's news in English
 

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
Germans want to keep their hands on cash
Germans still trust cash over other forms of payment. Photo: DPA

Germans want to keep their hands on cash

Confirming conservative stereotypes, Germans have come out strongly in favour of sticking to hard cash in conducting transactions, a survey published on Thursday showed. READ  

This week in history
Fassbinder: New German Film's Enfant Terrible
Rainer Fassbinder on set in 1977. Photo: DPA

Fassbinder: New German Film's Enfant Terrible

On Sunday May 31st, Rainer Weiner Fassbinder, one of the most influential German directors of all time, would have turned 70 - had it not been for his death at the age of 37 in 1982. The Local takes a look back at the life and work of the enfant terrible of New German Cinema. READ  

Cool caps reduce hair loss during chemo
Photo: DPA

Cool caps reduce hair loss during chemo

German scientists are trialling a special scalp-cooling cap which helps reduce hair loss for cancer patients going through chemotherapy. READ  

Industry: 'doped' growth boosting economy
A man assembling food processors in a Wuppertal factory. Photo: DPA

Industry: 'doped' growth boosting economy

The German Chambers of Commerce and Industry (DIHK) warned on Thursday that a fresh burst of economic confidence might be unfounded, even as they raised their growth projections for 2015. READ  

Slow-moving fighter jet blocks Autobahn traffic
A Eurofighter jet stopped up traffic on Thursday because it was so wide. Photo: DPA.

Slow-moving fighter jet blocks Autobahn traffic

A damaged Eurofighter plane being pulled by a truck along the autobahn was so wide that it blocked three lanes of traffic on its way to being repaired in Bavaria on Thursday, drawing the ire of fellow drivers. READ  

Right-wing leader suffers restaurant attack
AfD co-leader Frauke Petry. Photo: DPA

Right-wing leader suffers restaurant attack

Frauke Petry, co-leader of Alternative for Germany (AfD), was attacked by masked assailants while eating in a restaurant on Wednesday evening. READ  

Court rejects case against US drone strikes
An American MQ-9 "Reaper" unmanned drone. Photo: U.S. Air Force/Paul Ridgeway/dpa

Court rejects case against US drone strikes

A German court on Wednesday rejected a complaint by three Yemenis demanding that Berlin bar Washington from using a US base on its territory to operate deadly drones. READ  

Gay marriage: Germany still says 'No'
A gay couple in Stuttgart. Photo: DPA.

Gay marriage: Germany still says 'No'

Germany's cabinet on Wednesday approved a raft of draft measures to extend the rights of same-sex couples, but faced criticism for allowing only civil unions, not full gay marriage. READ  

Spectre of Greece haunts G7 Dresden meeting
German Finance Minister Wolfgang Schäuble welcomes his G7 colleagues to Dresden. Photo: DPA

Spectre of Greece haunts G7 Dresden meeting

Finance ministers and central bank governors of the Group of Seven wealthiest nations gathered in Dresden Thursday to discuss the global economy and tax evasion, but the Greek crisis was also high on everyone's minds. READ  

Cologne's giant bomb successfully defused
The bomb was burrowed deep in the ground. Photo: DPA

Cologne's giant bomb successfully defused

Bomb disposal teams have successfully made a 1,000-kilo explosive dropped during the Second World War safe, allowing 20,000 evacuated people to return to their homes. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Travel
Why the train strike is bad for passengers and workers
National
Meet Germany's Eurovision hope
Business & Money
Is 2015 a new moment for jobsharing?
Features
How the LGBT rights movement was born in Germany
National
Why you don't make bomb jokes at the airport
National
Why Germany needs a little less tipple
National
Who Germans and Americans trust... and don't
Politics
What the UK election means for Germany
National
Why Germany is great for mums
Features
The Germans with GI dads
Five ways Germany falls short on gay rights
Travel
Giant tortoise found riding Munich rail
National
FCK CPS? A-OK with court
Politics
Opinion: Brexit's dangers for Germany
Features
Smart kids all want to work for BMW
National
Minister shows off top Denglisch
National
Germany's 'other genocide' in Africa
National
Arms firms get a 'must do better' mark on ethics
Sport
Bayern's anticlimactic 25th Bundesliga win
Politics
A Greek learning politics in Germany
Features
The battle of the "Gates of Berlin"
National
Germany's 'very poor' lobbying record
National
Germany's favourite baby names of 2014
Politics
Merkel's 15 years at the top of German politics
Travel
Lowest of the low: how woman exploited Germanwings crash
Features
Spice up asparagus season with The Local's serving suggestions
Sport
Football and the €30,000 firework
Technology
Why scientists oppose killer robots
National
'Cannibal cop' gets 8 years
National
Which city is Germany's worst for drivers?
Technology
Electrifying 'Ostalgia'
National
Cologne Cathedral returns from space
Pupils mourn lost classmates
National
Freed after 25 years on death row
Shutterstock
Sponsored Article
10 things you didn’t know about Zagreb (and why you should go)
Is your workload 'out of control'? You're not alone...
Sponsored Article
What expat parents should ask before choosing a school
Features
Paddy's Day, Berlin style
National
Why east Germans are happy to get it on on camera
National
Uplifting thoughts to get you through the last week of winter
National
What would you do with a 250-year-old pretzel?
National
Who wants the Olympics more - Hamburg or Berlin?
Features
Just why is the German flag Schwarz, Rot, Gold?
Business & Money
Getting German workers and bosses thinking positive
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

6,693
jobs available
Toytown Germany
Germany's English-speaking crowd