Google
 

Monday 4 June 2007

Jun 4 2007, 10:33 GMT

IEA calls on Germany to reconsider phase-out of nuclear power


http://www.afxnews.com
LONDON (Thomson Financial) - The International Energy Agency has called on Germany to reconsider its phase-out of nuclear energy, saying that the risky strategy will increase reliance the country's reliance on imports and hamper its potential to reduce carbon emissions.
"Losing the nuclear option will have significant impacts on energy security, economic efficiency and environmental sustainability," the agency said in a statement.
"Without a doubt, a phase-out will limit Germany's full potential to reduce its emissions," it added. "The IEA urges the government to reconsider the decision to phase out nuclear power in light of these adverse consequences."
The IEA's position supports that of German economics minister Michael Glos, who earlier this year called for an "urgent and necessary" review of the country's position on nuclear energy.
Recent worries over gas supplies from Russia have reawakened fears over energy security, while an increasing focus on cutting greenhouse gas output have increased the attractiveness of low-emission nuclear energy.
Germany currently derives some 12 pct of its energy needs and 25 pct of its electricity generation from nuclear power, the IEA said.
The German government announced in 2000 its intention of phasing out nuclear power by 2020. Former German environment minister Jurgen Trittin said in a later interview that nuclear power was "not needed" to achieve the country's energy goals and that the use of nuclear power "is and will remain a global risk".
The IEA also called on Germany to introduce independent system operators to manage transportation assets in the electricity and natural gas markets, in order to challenge the dominance of large energy companies.

Signal Today

Commentary

Economic Calendar

Update News : Fundamental Analysis

Update News : Technical Analysis

TradingMarkets FOREX