On January 1st, three of the last six nuclear reactors in Germany went offline for good. Germany is switching off, but the EU Commission wants to classify and promote investments in gas and nuclear power plants as climate-friendly under certain conditions, speaks of green energy.
Occasion for Prof. Dr. Stefan Kooths for a general billing with the energy plans of the federal government. In BILD, the (acting) head of the Institute for World Economy criticizes: “Politics are lying in their pockets!”
Kooths on the energy transition: “The planned phase-out from fossil fuels is a mammoth project. Investments in decarbonization will only pay off in 30 years, if at all. “Politicians would be lying in their pockets,” if they believe that investments will be a growth engine in the foreseeable future. “
Clear text from the economics professor: “With the nuclear phase-out or the end of the internal combustion engine, for example, existing plants will be shut down. They are still very functional. ”
Foto: picture alliance / photothek
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These decommissioned plants must now be replaced – with new billions. Kooths continues: “But these investments do not create any additional growth: after all, only the decommissioned plants will be replaced and no new capacities will be built. Overall, economic growth is weakening as a result. “
And consumers could also feel it: “Decarbonization also threatens a new surge in inflation,” emphasizes Kooths. Namely when the state runs higher budget deficits for climate spending and the central bank keeps interest rates low in view of the high national debt.
His conclusion: “Then the additional burdens lead to higher inflation.”
Alternatively, the government would have to save the money for government investments in decarbonization elsewhere. The economics professor cites “cuts in government consumption” or “social spending” as examples. The third option would be to raise taxes.
Kooths: “That would be the worse option – just like higher inflation.”
This is what the EU is planning
Specifically, the EU proposal provides that planned investments in new nuclear power plants, especially in France, can be classified as “green” if the systems meet the latest technology standards.
► In addition, a specific plan for a disposal facility for radioactive waste is to be presented.
► It is also a condition that the new facilities receive a building permit by 2045.
Investments in new gas-fired power plants should also be able to be classified as “green” temporarily, especially at Germany’s request. For example, it should be relevant how many greenhouse gases are emitted.
► There would be strict requirements for systems that are approved after 2030.
However, whether gas and nuclear power should be considered climate-friendly is controversial among EU countries:
Germany, for example, is against the uptake of nuclear power, but sees electricity generation from gas as a necessary transition technology. For countries like France, on the other hand, nuclear power is a key technology for a carbon-free economy.
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