Germany’s New Governing Coalition Preserves Nuclear Power

From Reuters, “Germany gets mandate to extend nuclear life cycles“:

FRANKFURT (Reuters) – German Chancellor Angela Merkel’s majority for a new center-right government means she can rewrite a national nuclear phaseout deal by allowing reactors to run longer than laid down by her predecessors.

Nuclear operators’ shares rose on Monday, the day after the election, while carbon prices crept higher and power fell with oil, as Merkel’s conservatives and the pro-business Free Democrats (FDP) aimed for a quick coalition.

The election outcome may be a precursor for more nuclear projects in other European countries…”

But it is no carte blanche for nukes, Reuters adds, correctly. Being getting hammered so conclusively at the polls, the former coalition partner, SPD, may now feel free to go full-scale into opposition to nuclear power.

But the immediate lesson is that when faced with economic troubles and climate politics, German voters chose parties that support tax relief and nuclear power.

P.S.: Also, from the WSJ’s Green Ink blog: “German lessons, too: Chancellor Merkel’s re-election gives a boost to power companies long on nuclear, since the coalition will end the country’s nuclear phaseout, in the WSJ and Bloomberg.”

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