May 28, 2012
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Germany’s Merkel defends nuclear deal
8 September 2010 / AP, RIGA
Germany’s chancellor is defending her government’s decision to extend the lifetime of the country’s nuclear plants against criticism that it guarantees utility companies huge windfall profits.
Angela Merkel said Tuesday in Latvia that more than half of the extra profits will go into the state coffers, thanks to a new nuclear fuel tax aimed at raising 2.3 billion euro annually between 2011 and 2016, and contributions to a special fund promoting renewable energies. A German think tank said Monday the four utilities will be able to keep more than 70 percent of the extra profits. Merkel’s government decided over the weekend to extend the life of Germany’s nuclear plants for an average of 12 years past the 2021 date they had been scheduled for closure.
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