(Bloomberg) — Germany would see significantly higher electricity prices if it backtracks from its renewable energy expansion targets than if the government keeps pursuing them, think tank Agora Energiewende said.<\/p>\n
Berlin is in the process of reassessing the nation\u2019s electricity needs after major utilities \u2014 including RWE AG, EON SE, and EnBW Baden-W\u00fcrttemberg AG \u2014 challenged official demand projections by 2030, arguing consumption has been overestimated. The government plans to review its projections by summer, which could be a precursor to adjusting its green energy goals.<\/p>\n
If the current expansion of solar and wind energy proceeds as planned, wholesale power prices might be up to 23% lower by 2030, Agora\u2019s report said. While the new government has promised to cut energy prices by slashing grid fees and electricity taxes, investing in renewables is a more sustainable way to cut costs in the medium and long term, it said.<\/p>\n
\u201cThe German government should therefore absolutely stick to its chosen expansion path,\u201d said Markus Steigenberger, managing director of Agora Energiewende.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Germany would see significantly higher electricity prices if it backtracks from its renewable energy expansion 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