There’s something uncanny about the relationship between rocketing power prices and renewable energy: ask a German, Dane or South Australian.
The consequences of Germany’s obsession with sunshine and breezes are starting to hit home, with a vengeance.
Its economic backbone, referred to as the ‘Mittelstand’ (small to mid-size firms, either in family or private hands) is slowly being ground out of existence by power prices, which are not only the highest in Europe, but which are still rocketing northwards, at an astonishing rate (see above).
Economic hegemony has been presumed in favour of Germany for decades. However, the crushing cost of power now seriously threatens its dominance as a manufacturing and industrial superpower; it’s already led to energy poverty, with hundreds of thousands of Germans unable to afford electricity, cut from the grid.
Here’s a report from Bloomberg (first and foremost a propaganda wing for renewable energy rent seekers) on the ultimate cost of Germany’s lurch to the ultra-hard-green-left.