Germany Must Revise Renewables Law to Curb Price Jumps, RWE Says

Germany must change its renewable-energy legislation to curb power-price gains and guarantee security of supply, according to utility RWE AG and European Union Energy Commissioner Guenther Oettinger.

Consumers can’t withstand more increases in electricity costs caused by the so-called EEG subsidy system, RWE Chief Executive Officer Peter Terium said today at a conference in Cologne. The system will also be unable to ensure supply security in the long term, he said.