German industry interests will be protected in coal exit: economy minister
Reuters
Published Jan 22, 2019 05:32AM ET
Updated Jan 22, 2019 07:06AM ET
German industry interests will be protected in coal exit: economy minister
BERLIN (Reuters) - German Economy Minister Peter Altmaier on Tuesday said the interests of the manufacturing industry would be protected as a national coal exit commission is close to deciding on abandoning the reliable and inexpensive fuel for environmental reasons.
"We are in our 10th year of an economic uptrend but if power becomes unaffordable, we cannot retain a functioning industrial basis," Altmaier told the annual energy industry conference organized by the Handelsblatt business paper.
Companies want some protection from the rise they fear they will see in electricity prices when coal-fired power plants and nuclear power plants are taken off the grid in the coming years.
"We will take clear and responsible steps to compensate energy-intensive companies," he added.
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Written By: Reuters
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