Sweden’s Deputy PM blasts Germany for dismantling nuclear plants, spiking energy prices.

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Sweden’s Deputy Prime Minister Ebba Busch voiced frustration over Germany’s decision to dismantle its nuclear power plants, which has driven up energy prices in Sweden, particularly in the southern regions. The cold weather, lack of wind, and the need to send electricity to Germany via undersea cables have created record-high energy prices. In southern Sweden, prices are nearly 200 times higher than in the north, making basic activities, like a 10-minute shower, cost around USD 5 during today’s price spike.

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Busch criticized Germany’s move, stating that while Germany has the right to make its decisions, its actions have negatively impacted the EU’s competitiveness, noting a significant decline in German competitiveness. The decision to dismantle nuclear plants has also hindered Germany’s ability to assist Ukraine amid the ongoing conflict with Russia.

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The broader consequences of Germany’s energy revamp, costing $1 trillion, are severe: it cannot ensure a stable energy supply, has to import electricity, and causes significantly higher CO2 emissions compared to France. Despite dismantling nuclear plants, Germany still relies on nuclear power, just not from its own facilities. The Eurozone’s manufacturing sector is in crisis, with activity shrinking for 29 consecutive months, the longest streak since the European Debt Crisis of 2011-2012.

Sources:

https://sverigesradio.se/artikel/high-electricity-prices-hit-sweden

https://euroweeklynews.com/2024/12/11/southern-swedens-electricity-prices-surge-167-times-higher-than-the-north-heres-why/

https://www.worldenergynews.com/news/nordic-countries-debate-energy-policy-after-spikes-755663

https://www.cleanenergywire.org/factsheets/germanys-greenhouse-gas-emissions-and-climate-targets

https://cyprus-mail.com/2024/12/03/eurozone-nov-factory-activity-fell-sharply-outlook-gloomy-pmi-shows/

https://br.advfn.com/noticias/RTTF2/2024/artigo/95016481

https://tradingeconomics.com/euro-area/manufacturing-pmi

https://www.pmi.spglobal.com/Public/Home/PressRelease/9a41a1c84c4740e5815e4a9ffcba9b70

 


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