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Opposition to planned nuclear tax grows

AFP · 20 Aug 2010, 12:31

Published: 20 Aug 2010 12:31 GMT+02:00

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"A policy that consists of filling the budget by creating new energy taxes amounts to blocking important future investments," said a text published by the business daily Handelsblatt.

The letter is to be printed Saturday as a full-page ad in other German newspapers and takes aim at a mooted tax on nuclear plants that could raise €2.3 billion ($2.9 billion) per year for the state as it seeks to balance the public finances.

Chancellor Angela Merkel wants nuclear power plant operators to pay the tax in exchange for an extension of the plants' lifetimes, which is to end in around 2020 under the terms of a previous decision.

"A precipitate exit from nuclear power would destroy billions of euros in capital," the letter warned.

"We cannot give up for the time being on coal or nuclear energy if we want energy prices to remain affordable for all," it added.

Among those who signed the letter were the heads of major power companies EON, RWE and Vattenfall.

The leaders of industrial giants BASF, Bayer and ThyssenKrupp added their names, as did heads of the retail group Metro, media group Bertelsmann and Germany's largest bank, Deutsche Bank.

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Without being named directly, the leader of one major German company called the text a "warning shot for the government."

Merkel's government aims to decide on its new energy policy by the end of September.

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Your comments about this article

00:09 August 21, 2010 by cobalisk
Typical big business scare mongering. The big companies lobby to reverse the rule to close the plants.

Then when the deal is sealed and the trade-off is that they have to share the enormous profits they will reap with the public, suddenly the 'warning shots' are fired and all the big guns stick together to say 'you cannot touch our socially subsidized profits!'

Take the money, we paid to build the plants which now operate at enormous profits as the capital expenses have been paid. Don't be intimidated chancellor, The threat that German companies will no longer invest in Germany is laughable.
10:02 August 21, 2010 by notelove2
All well and good but what about the nuclear waste from the power plants - there is no mention of it's disposal in this article. Should we be happy to have electricity where the waste gets shipped off to poorer countrIes to be dumped in the ground?
22:06 August 21, 2010 by LiterallySimon
What nuclear energy renaissance?

14:34 August 23, 2010 by T.J. Morton
What nuclear energy renaissance?

Who said anything about a renaissance? And what does your article have to do with the topic being discussed?
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