The European Commission is set to take up the issue of German electric rate subsidies when they return from summer recess. After the 2011 Fukushima nuclear incident, the German government implemented a plan to phase out nuclear power by 2022. In order to move away from nuclear power while maintaining a robust economy, Germany began subsidizing the electricity costs of the manufacturing sector, much to the chagrin of competitors outside of Germany and German consumers. If the European Commission decides that the German electric subsidies constitute illegal state aid, then the German government will have to retrieve upwards of $5.5 billion from corporations that received the subsidies.
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EC to consider German electric rate subsidies
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