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Siemens Says German Energy Switch on Track for Failure on Costs

German Chancellor Angela Merkel’s plan to exit nuclear energy and switch to a greater share of renewables may fail because costs and greenhouse gas emissions are increasing, the head of Siemens AG’s energy division said.

Germany is burning more coal because gas plants are not economical, subsidies for renewables are pushing up power prices, and a greater share of fluctuating renewables threaten the stability of electrical grids, Michael Suess, chief executive officer of Siemens Energy, said today at a conference organized by Merkel’s CDU/CSU parliamentary faction in Berlin.