Better stock up on candles and firewood!
Energy Bosses Call for End to Subsidies for Wind, Solar Power
Group Includes CEOs From Eni, GDF Suez and E.ON
The Wall Street Journal
11 October 2013
BRUSSELS – Top executives of companies that provide half of Europe’s electricity production capacity on Friday called on politicians to end “distorting” subsidies for wind and solar power, saying the incentives have led to whopping bills for households and businesses and could cause continent-wide blackouts.
Speaking at a news conference here, chief executives of 10 energy producers also urged European Union authorities to compensate electricity companies that agree to maintain spare capacity on standby – a practice that helps increase the security of Europe’s highly interconnected power grid.
The executives, from utilities including Germany’s E.ON, France’s GDF Suez and Italy’s Eni SpA, blamed rising power prices on policies introduced at the turn of the century, when most European governments sought…
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