|Pivot to Renewables Means Soaring Energy Bills in Germany|
|by Tom McGregor||Tue, Apr 8, 2014, 10:40 PM|
President Barack Obama's global Green Energy campaign has caused electricity bills to skyrocket in Germany. The co-called Renewable Energy sources are funded by German government subsidies.
According to Reuters, "Chancellor Angela Merkel's cabinet approved on Tuesday a reform of 's renewable energy law designed to curb a rise in the cost of electricity in Europe's biggest economy driven by the rapid expansion of green power."
German households pay the highest electricity prices in the world and prices continue to soar.
As reported by Reuters, "Although some industrial companies will have to pay more for power in future, the sector has managed to hang on to many of the benefits it says it needs to stay competitive. Household consumers, who have among the highest electricity bills in Europe, are likely to see power bills rise at a slower pace."
Germany receives a substantial amount of its power resources from a Russian natural gas pipeline that flows through the Ukraine.
To read the entire article from Reuters, link here:
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