28 July 2010 19:34 [Source: ICIS news]
The plan was a “poison” for the economy, coming just as the recovery was getting under way, said Utz Tillmann, general manager of Frankfurt-based chemical industry trade group VCI.
If the government’s latest draft proposal this week was realised, it would add some €300m ($390m) to chemical producers’ energy bills in the next two years alone, he said.
Tillmann added that Germany-based chemical producers already paid very high prices for their energy supplies, compared with competitors in Europe,
Michael Vassiliadis, head of
Vassiliadis said the government’s move was not motivated by improving environmental protection. Rather,
The move to reduce the breaks was first put foward last month as part of an €80bn budget cut package by Chancellor Angela Merkel’s coalition government.
($1 = €0.77)
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