Factbox: Fiscal effects from German nuclear power phase-out
BERLIN |
BERLIN (Reuters) - Chancellor Angela Merkel's plans to phase out all nuclear power in Germany by 2022 should cost the federal government roughly 2 billion euros a year in lost revenue, according to a senior CDU politician.
Michael Meister, a deputy parliamentary group leader of Merkel's Christian Democrats (CDU), on Monday laid out the financial effects of the deal to Reuters.
REVENUE-SIDE EFFECTS FOR FEDERAL GOVERNMENT
- Roughly 1 billion euros in lost income a year through 2016 from the fuel rod tax as a result of shutting down the eight oldest nuclear reactors permanently. - The first 900 million euros in revenue from the sale of carbon dioxide emission certificates will now be transferred to the Energy and Climate Fund. Previously, the amount was penciled into the federal government's budget plans. - Lost income of about 60 million -- the federal government's share -- stemming from tax write-offs of 10 percent of the costs to renovate buildings to be more energy efficient.
TOTAL HIT TO BUDGETED REVENUE: about 1.96 billion euros
EFFECTS ON ENERGY AND CLIMATE FUND
- The fund was designed to finance developing other, mainly renewable, energy sources to compensate for the loss of nuclear power although it would also subsidize energy-intensive companies for the higher price of power.
- Nuclear power plant operators had been due to pay into the fund as part of a deal that extended the lifespans of Germany's reactors by 12 years on average.
This will cost the fund lost contributions of:
2011-2012 - 300 million euros per year
2013-2016 - 200 million euros per year
- The fund will now be compensated with all the revenue from by sale of C02-certificates, including the 900 million originally reserved for the federal government.
TOTAL NET HIT TO FUNDING: 500 million euros
(Reporting by Matthias Sobolewski, writing by Christiaan Hetzner)
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