German Power Consumers Now Saddled By Staggering 35 Billion Euros In Taxes, Feed-In Tariffs

via NoTricksZonehttp://notrickszone.com

Here’s an addendum to what I wrote here about German electric power a couple of days ago. Apparently things are worse than we thought. The climate protection scam is truly a colossal cash-cow for the government and a narrow special interest.

German power now costing consumers tens of billions of euros. Chart above shows Germany’s average household price per kilowatt-hour. Image: BDEW.

According to manager magazin, power consumers are now paying 35 billion euros in taxes and feed-in tariffs annually:

Households in Germany are paying with their electric bills more than 35 billion euros for taxes, surcharges and feed-in tariffs this year. The biggest share is the EEG renewable energy feed-in tariff with 24 billion.”

The taxes, tariffs and surcharges represent 55% of the German power bill, almost double what it was in 1998. manager-magazin reports the average kilowatt-hour of electric power has now reached 29.16 euro-cents, and blames the feed-in act as the main price-driver.

German households are currently paying over 100 euros a month just for their electric bills – a “record level”. The manager magazin reports that the average household now pays 1223 euros a year for power, up 2% from a year earlier.

The vast majority of analysts say the price spiral will continue, with no end in sight over the next few years.

Investing in Mexico

Not only electricity consumers are being hit, but so is Europe’s green power sector, which was once touted as a jobs creation machine for the future. German national daily Die Welt here reports that electrical engineering giant Siemens will close a wind energy production equipment facility in neighboring Denmark, thus costing 430 jobs. The closure comes at the heels of the company announcing the lay off 150 workers at its rotor blade facility in Aalborg. Siemens cites a streamlining of its operations and reports of record orders for wind turbine equipment this year.

The company also announced plans to invest some 200 million dollars in Mexico over the coming decade, which according to Chairman Joe Kaeser will create 1000 jobs.

It’ll be interesting to see if the equipment will be exported from Mexico and into the United States.

via NoTricksZone http://notrickszone.com

February 17, 2017 at 11:35PM