German Chancellor Angela Merkel plans to raise tariffs for wind and geothermal power, spurring investment in renewable energy as the country mulls a quicker exit from nuclear power, according to the Handelsblatt.
Merkel's government is overhauling Germany's renewable energy legislation this year and may raise charges for power from new offshore wind parks to 15 cents from 13 cents per kilowatt-hour from January 2012, the newspaper said, citing government documents.
Lower rates for the tariffs may only kick-in from 2018 instead of 2015 today, the newspaper said. The so-called "feed- in tariffs" are costs borne by power grid owners or operators in buying renewable energy.
