• Germany's news in English

Minister reveals power line investment plan

The Local · 11 Nov 2012, 13:52

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

Facebook Twitter Google+ reddit

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.

Story continues below…

The Local/DAPD/bk

The Local (news@thelocal.de)

Facebook Twitter Google+ reddit

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
Five things not to miss at the Frankfurt Book Fair
Photo: DPA

From consulting a book doctor to immersing yourself in an author's world with the help of virtual reality, here are five things not to miss at this week's Frankfurt Book Fair, the world's largest publishing event.

Parents who don't get nursery spot for kid entitled to pay
Photo: DPA

The Federal Court of Justice (BGH) ruled on Thursday that parents whose children don't receive placements in nursery care are entitled to compensation.

Eurowings braces as cabin crew union proclaims strike
Photo: DPA

A union representing cabin crew for Lufthansa's budget airline Eurowings announced that strikes could take place at any time over the next two weeks, starting on Monday.

Mysterious German U-boat wreckage found off Scotland
Photo: ScottishPower

First World War U-boat "attacked by sea monster” thought to be found off Scottish coast.

Supermarket Edeka warns of exploding apple juice bottles
Photo: DPA

"Risk of injury" from "Gut und Günstig" sparkling apple juice bottles has forced Germany's largest supermarket to recall the product.

By wheelchair from Syria to Germany: teen's story of hope
Nujeen Mustafa. Photo: HarperCollins-William Collins Publicity/Private

She tackled the gruelling 2,000-kilometre migrant trail in a wheelchair, translating along the way for other refugees using English she learned from a US soap opera. Now this teen is living in Germany and hoping to inspire others with a newly published memoir.

Berlin Zoo to have a pair of pandas by next summer
A recently born panda pair at Vienna Zoo. Photo: DPA

The giant bamboo-eating bears will move into a brand new 5,000 square-metre enclosure in the capital's Zoologischer Garten.

Two new spider species discovered in Munich
Zoropsis spinimana. Photo: rankingranqueen / Wikimedia Commons

It's news every arachnophobe in Munich is no doubt thrilled to hear: two types of spider new to the region have been discovered in the Bavarian capital - and one of them bites!

After woman's body found in barrel, husband may walk free
Franziska S., who went missing 24 years ago. Photo: Hanover police.

A woman disappeared in Hanover 24 years ago, but no one reported her missing. Although her husband has now confessed to her murder, he still may not step foot in jail.

Two injured after army tank falls 50 metres in Alps
A Bundeswehr Puma tank. File photo: DPA

A Bundeswehr (German army) soldier has been severely injured after the tank he was riding in crashed 50 metres down an embankment after going off course in bad weather.

Sponsored Article
How to vote absentee from abroad in the US elections
10 things you never knew about socialist East Germany
Sponsored Article
Last chance to vote absentee in the US elections
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
Sponsored Article
How to vote absentee from abroad in the US elections
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Eleven famous Germans with surnames that'll make your sides split
The best ways to get a visa as an American in Germany
jobs available
Toytown Germany
Germany's English-speaking crowd