FRANKFURT (Reuters) – A German court on Wednesday sentenced six men to jail terms of between three years and seven years and 10 months in a trial involving evasion of taxes on carbon permits.
Judge Martin Bach said the men, aged between 27 and 66, were guilty of having participated in a conspiracy to evade around 300 million euros ($393 million) in value-added tax (VAT) between August 2009 and April 2010.
BONN, Dec 7 (Reuters) – Germany is set to expand its
onshore wind power capacity by 1.7 gigawatts (GW) a year up to
2032, its Federal Network Agency said on Wednesday after
studying the impact of a planned rapid expansion of green power
in Europe’s biggest economy.
It would arrive at 47.5 GW in 2022 and 64.5 GW in 2032,
compared with 27.1 GW of capacity installed in 2010, the
agency’s president Matthias Kurth said at a news briefing.
FRANKFURT (Reuters) – Germany’s power export surplus in the first nine months of this year shrank by 85 percent over comparable 2010 to 1.6 terawatt hours (TWh), exclusive data from energy industry association BDEW showed on Tuesday.
Hildegard Mueller, managing director of BDEW said in an exclusive interview with Reuters the country has started relying more on imports from neighbors after switching off vast nuclear capacities in the wake of Japan’s Fukushima disaster.
BRUSSELS/FRANKFURT, Nov 18 (Reuters) – Energy
companies will have to disclose the timing of gas field
maintenance and nuclear shut-downs under new EU legislation
about to be finalised and expected to start taking effect around
the end of this year.
The law will not cover highly market-sensitive information
on outages on oilfields, long a source of controversy among oil
traders, although knowledge of when associated gas is shut down
could provide a clue.
FRANKFURT (Reuters) – Oil and gas firms, big industrial players and pension funds will increase investment in renewable energy thanks to falling costs and a shorter payback time than for nuclear, Swiss private bank Sarasin said on Monday.
“The sector will become the target of progressive oil and gas companies and utilities and of blue chip firms in conventional industries,” the bank’s sustainability research analyst, Matthias Fawer, said at a press briefing in Frankfurt.
FRANKFURT, Oct 14 (Reuters) – Subsidies levied on German
consumers to support renewable power are to rise by 1.8 percent
next year and an increase in solar power capacity will be far
slower than in 2010 and 2011, a statement from transmission grid
firms said on Friday.
The data showed Germany is beginning to rein in an
exponential rise in renewable power driven by generous subsidies
which have become increasingly burdensome for users.
FRANKFURT/PARIS (Reuters) – German and French spot electricity prices are vulnerable to spikes this winter as high seasonal demand combines with short supply after Germany axed a big chunk of its nuclear capacity.
Such spikes would add to the troubles of households and companies in an already slowing economy.
FRANKFURT, Sept 30 (Reuters) – Germany’s Bayerngas intends
to join the Nabucco gas pipeline consortium as a seventh member,
boosting the project’s competitiveness in a bid to transport gas
from the Caspian region to Europe, the group said on Friday.
“Nabucco Gas Pipeline International welcomes Bayerngas’
intent on becoming one of the Nabucco shareholders,” said the
consortium in a statement on Friday.
FRANKFURT, Sept 21 (Reuters) – German gas trading volumes
are on track to see more growth this year but at a lower rate
after a rapid expansion in recent years triggered by
liberalisation, a pan-European study by British consultancy
Prospex said in a report on Wednesday.
Germany, considered a national market, now has the third
largest trading volume in Europe with 1,700 terawatt hours (TWh)
in 2010, a 78 percent rise over 2009, having doubled in each of
the previous three years leading up to that, the report said.
MUNICH, Sept 13 (Reuters) – German utility RWE
hopes to conclude a planned 2.5 billion euro ($3.4 billion)
capital increase and sale of treasury shares this year, board
member Leonhard Birnbaum told reporters in Munich on Tuesday.
“We would like it to be this year,” Birnbaum said.
Debt-laden RWE said in August it needed to raise fresh
capital, sell some assets and raise efficiency amid turmoil in
Germany’s energy industry.