Germany’s upper house approves Merkel’s plan for nuclear industry

26 November 2010 14:55  [Source: ICIS news]

TORONTO (ICIS)--Germany’s upper house, the Bundesrat, on Friday approved Chancellor Angela Merkel's plan to extend the lifespan of the country’s nuclear plants by an average 12 years, and to impose a special tax on the nuclear industry.

German industry leaders, including BASF CEO Jurgen Hambrecht, had earlier protested against the tax levy, which is expected to generate around €2.3bn ($3.1bn) a year in additional revenues for Merkel to help cut the country's budget deficit.

Meanwhile, the last of Germany's 17 nuclear power plants is now expected to stop producing by around 2036. An earlier government under former chancellor Gerhard Schroeder had committed the country to phasing out production by 2022.

Kurt Beck, minister president (governor) of BASF’s home state of Rhineland-Palatinate, told the media that he and other states led by the opposition Social Democrats remained opposed to the plan and were considering a constitutional challenge.

($1 = €0.75)

To discuss issues facing the chemical industry go to ICIS connect


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index