German minister:

Electricity is cheaper even after nuclear phase-out

One year after the nuclear phase-out, German Economics Minister Robert Habeck (Greens) has defended the decision to shut down the last nuclear power plants. All the horror scenarios painted on the wall have not materialized, he said. Electricity prices had even fallen.

Experts had previously reported that the nuclear phase-out had no effect at all on the electricity market (see video above). "We can see today that the electricity supply is still secure, electricity prices have fallen even after the nuclear phase-out and CO₂ emissions are also falling," Habeck now said. Of course, the situation was tense after the outbreak of war in Ukraine, but the energy supply had been stabilized and dependency reduced.

Reforms were taking effect in the electricity sector, said the Economics Minister. "The expansion of renewable energies is really picking up speed, we are simplifying and speeding up approval procedures and prices on the electricity exchanges have fallen sharply. By 40 percent since the nuclear phase-out a year ago." At the same time, coal-fired power plants are running less than they have for decades.

Nuclear power imported from France
The German Chamber of Industry and Commerce (DIHK), on the other hand, continued to complain about high electricity prices. Compared to 2019, prices on the exchange are still twice as high. Added to this are taxes, user charges and levies, which in some cases make costs four times higher than in other countries.

The nuclear phase-out in Austria's neighboring country was decided in 2011 and implemented in 2023. According to Habeck, two percent of gross electricity consumption was imported last year, around a quarter of which was nuclear power from France.

According to Habeck, regions with renewable energies have locational advantages. He also said that the final storage issue in Germany remains unresolved. "If some people are still banking on a return to nuclear energy, it should be noted that nuclear energy is not competitive internationally and the costs of current projects are exploding."