• Germany edition
 
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)

Don't miss...X
Left Right

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
Four Germans on missing Air Algérie flight
A Swiftair flight Photo: EPA/SWIFTAIR / HANDOUT BEST QUALITY AVAILABLE

Four Germans on missing Air Algérie flight

UPDATE: Four Germans were among the 116 people onboard a Air Algérie flight which crashed over Mali on Thursday, according to the airline which operated flight number AH5017. READ  

Munich midwife 'tried to kill pregnant mums'
The hospital in Munich where the midwife worked. Photo: DPA

Munich midwife 'tried to kill pregnant mums'

A midwife in Munich stands accused of trying to murder four pregnant mums during childbirth using a blood-thinning drug. READ  

Top university switches master's to English
Munich's TU university wants to switch its master's programmes to English. Photo: DPA

Top university switches master's to English

UPDATE: One of Germany’s top universities wants to ditch German and switch almost all of its master’s programmes to English in the next six years, prompting fears that the academic standing of the German language is under serious threat. READ  

Death sentence for Afghan reporter murderer
Anja Niedringhaus (r) with colleague Kathy Gannon in 2013. Photo: DPA

Death sentence for Afghan reporter murderer

A former Afghan police commander has been sentenced to death in Kabul for the killing of German war reporter and photographer Anja Niedringhaus in April this year. READ  

ECB blackmailed after data stolen
The ECB building (right) in Frankfurt. Photo: DPA

ECB blackmailed after data stolen

The European Central Bank in Frankfurt has received a blackmail letter after its public website was hacked and contact data stolen, the bank said on Thursday. READ  

Manhunt on for police officer's killer
Police searching the area on Thursday morning have released an e-fit of the suspect. Photo: DPA/Polizei Hessen

Manhunt on for police officer's killer

UPDATE: An off-duty police officer was shot dead in a street in western Germany on Wednesday night, prompting a large-scale manhunt for the culprit. READ  

Berlin is Europe's fastest growing tourist city
Photo: DPA

Berlin is Europe's fastest growing tourist city

Berlin is the fastest growing tourist destination among Europe’s major cities, with overnight stays in the capital up eight percent in 2013. It could soon topple Paris as Europe’s number two tourist city. READ  

Lufthansa flight ban is 'surrender to terror'
Tel Aviv's Ben Gurion International airport board shows cancelled flights from Europe on Wednesday. Photo: DPA

Lufthansa flight ban is 'surrender to terror'

Politicians criticized German flight operators for "surrendering to terror" after they refused on Thursday to resume flights to Tel Aviv, despite a US decision to lift a two-day flight ban to the Israeli city. READ  

'Auschwitz criminal' dies ahead of US extradition
Photo: DPA

'Auschwitz criminal' dies ahead of US extradition

An 89-year-old American and alleged Nazi war criminal died just hours before a US court approved his extradition to Germany, his lawyer said late on Wednesday. READ  

Robots could take half of jobs in Germany
The employee of the future? Photo: DPA

Robots could take half of jobs in Germany

More than half of the jobs currently being done in Germany could be taken over by robots in the next 20 years, according to a think-tank. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
instagram.com/gotzemario
Gallery
Germany's World Cup stars share their holiday photos
Travel
Plans unveiled for bike trail along former Iron Curtain
Photo: DPA
Sport
Yoga helped Jogi's boys bring World Cup home
Photo: DPA
National
Pressure on police over anti-Semitic protests
Photo: DPA
Gallery
The Local List: 12 best words in German
Photo: DPA
Politics
View from Germany: 'Nobody will win in an economic war with Russia'
Photo: DPA
Business & Money
Jobtalk: How innovative is Germany?
Photo: DPA
Gallery
German Bucket List: How many of these can you tick off?
Photo: DPA
Gallery
Germany's week in pictures: July 12th - July 18th
Photo: DPA
Business & Money
Which workers is Germany short of?
Photo: DPA
Gallery
Ten best expat jobs in Germany: Which one would you choose?
Photo: Europeana.de 1914 - 1918
Gallery
A German soldier's life behind WWI lines
Photo: Shutterstock
Features
Some of the most embarrassing mistakes you can make in German
Education
Raising the bar for law & business in Germany
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
Photo: DPA
Features
The Local List Archive - Your guide to all things German
National
Share news tips with The Local Germany
Sponsored Article
CurrencyFair: Why it pays when making overseas transfers
Sponsored Article
Bilingual school turning education on its head
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

3,267
jobs available
Toytown Germany
Germany's English-speaking crowd