Germany

Germany

US wind support better than Germany's, says E.on CEO

GERMANY: E.on CEO Johannes Teyssen has claimed Germany's wind energy support framework fails to match up to the US system.

E.on CEO Johannes Teyssen
E.on CEO Johannes Teyssen

Speaking as the company released its results, Teyssen said: "If, like E.on, you know how to pull the right levers in an intelligent regulatory environment, electricity from renewable energies can be very reasonably priced."

At a prime northern Texas site with up to a high 5,000 annual full-load hours, "our newest project will have electricity generation costs of EUR 0.032 per kilowatt hour, when commissioned in 2015," he said.

In contrast to the German support system, "US electricity customers don't have to pay subsidies", he said.  

Teyssen did not mention the US production tax credit currently worth about $0.023/kWh (EUR 0.017/kWh) for wind generation, which benefits generator companies such as E.on.

If support rates are not reduced, Germany's onshore wind projects receiving the basic feed-in tariff will earn EUR 0.0465/kWh and new projects EUR 0.0853/kWh in 2015.

Teyssen's comments came as the company announced its 1H results. E.on said underlying net income fell by 42% to EUR 1.9 billion between April and June.

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