German Industry at Disadvantage due to High Electricity Prices
RT reports that big German production companies have decided to no longer expand in Germany due to high energy prices.
“German industry is at increasing disadvantage owing to the growing energy price disadvantage that it faces. Average industrial electricity prices in Germany have risen approximately 60 percent since 2007, while prices in the United States and in China have increased less than 10 percent,” market research firm IHS wrote in a study published earlier this year.
[rt.com] – Germany goes green, forces energy companies abroad
RT sells German renewable transition efforts as ‘greening of the economy’, as if the environment is the largest concern, where in reality fossil fuel depletion is the real motivation. Germany is gaining long term energy security at the cost of higher energy prices in the short term.