“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.
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.