Siemens to Cut Oil and Gas Jobs Amid Wider Hiring
German industrial group Siemens plans to cut about 2,500 jobs related to the oil and gas, metals and mining sectors - mostly in Germany - while pursuing a hiring drive to boost its digital industrial expertise, it said on Wednesday. Siemens said it would realign its two business units Large Drives and Process Solutions…
Germany Finally Seals Coal Compromise
Planned levy on coal plants dropped; utilities to be compensated for reserve power. coalition leaders agreed on Thursday. to business interests. Merkel's right-left coalition agreed early on Thursday. plants was dropped. firms had long pushed for. said. energy from the north to Germany's industrial south. this year on the details.
Germany’s Grafenrheinfeld Nuclear Reactor Closes
One less nuclear reactor threat to the people of Europe with the early closure of the Grafenrheinfeld nuclear reactor. Germany's 33 year-old Grafenrheinfeld nuclear reactor will be shut down permanently on June 27th as the country's phase out of nuclear power continues. It's the first reactor to…
German Govt Clashes with Bavaria Over Nuclear Storage Site Plan
The German government presented a plan on Friday for four interim storage sites to host nuclear waste now piled up at plants in France and Britain, but the move drew criticism from Bavaria, which wants none of the material. After Japan's Fukushima nuclear disaster in 2011, Germany decided to shut all of its nuclear plants by 2022…
Siemens CEO Gives up on German Fossil Fuel Plants
Industrial group Siemens has resigned itself to never selling another gas turbine in its home country following Germany's switch to renewable energy, its chief executive said. Joe Kaeser is cutting 1,600 jobs at Siemens' power and gas division, which has been turned upside down by the fallout from…
Coal Row Takes Shine off Germany's Green Image
Germany hosts G7 summit on June 7-8; Merkel's credibility hinges on fulfilling own targets. Germany's clean energy drive earned it a reputation as a green leader but a domestic row over coal has highlighted the challenge of balancing economic and environmental demands and threatens its ability to lead by example.
E.ON Seeks Compensation for Nuclear Moratorium
German utility E.ON has filed a lawsuit seeking 380 million euros ($479 million) in damages caused by a government moratorium on nuclear production after the Fukushima disaster in 2011. It has also filed a lawsuit against three German states seeking compensation for costly nuclear waste storage.
RWE Files Suit against Germany over Biblis Reactor Closure
RWE said on Monday it will seek damages from Germany to compensate for losses caused by a government-imposed moratorium on nuclear power stations in 2011 in the wake of the Fukushima disaster. The German utility was forced to close its Biblis nuclear power station, causing more than 200 million euros ($264 million) in lost income, a decision later declared illegal.
Europe Spot Down as Holiday Weighs on Demand
European spot power prices fell on Thursday with expectations of a drop in electricity demand in Catholic regions observing the Aug. 15 holiday weighing on day-ahead contracts. German day-ahead baseload for Friday delivery fell 1.4 euros per megawatt-hour (MWh) to 30.10 euros ($40.3). The equivalent French contract was last unchanged at 15.50 euros per MWh.
