“German predicament due to Macron’s climate protection”
French President Emmanuel Macron’s proposal to introduce a high price on CO₂ emissions in the European Union would give France an “enormous competitive edge” over Germany, as his country’s energy supply is based mostly on emission-free nuclear and hydro power, according to Pöyry Management Consulting, Daniel Wetzel reports in Die Welt. A price of 30 euros per tonne CO₂ – reported by news agency Bloomberg – would see Europe reach its CO₂-reduction goals faster, but increase power prices in Germany by about 40 percent. This would put export-oriented, energy-intensive industry at a disadvantage, the consultancy says in a press release.
Read the article in German here and find the press release in German here.
For background, read the CLEW article Experts call for CO2 price to retain Energiewende’s credibility and the CLEW dossier Energiewende effects on power prices, costs and industry.