Disaster on the energy market of Germany

The British Financial Times published on 8 October an article titled "Distress in the energy market of Germany" (German Energy Market a Disaster, Says EDF Chief). The daily quoted the head of the largest state-owned French energy company Electricite de France (EDF), Henri Proglio.

According to him, the energy market in Germany is in a catastrophic situation: one of the two largest energy companies "almost dead", the other is going through great difficulties. Profit of energy companies in Germany falls as the country moves from conventional energy sources to renewable, at the same time implementing the program of non-nuclear energy. German RWE announced decrease of profit by 62% in August and plans to close several power plants due to the rising cost of producing renewable energy and falling demand. Profit first largest energy in Germany, E. On in the same month fell by 20% due to the spread of electricity from alternative sources.

The financial condition of the EDF is also far from brilliant: its shares fell from April 28 to 24 Euro amid bleak situation in the French economy.

Source: green-city.su/