Compared to US competitors, European industry pays in 2013 twice as much for electricity, and four times as much for gas. The European industry commissioner warned that Europe’s quixotic dash for renewables was pushing electricity costs to untenable levels, leaving Europe struggling to compete. “I am in favour of a green agenda, but we can’t be religious about this. We have to stop pretending, because we can’t sacrifice Europe’s industry for climate goals that are not realistic, and are not being enforced worldwide,” he told. When people choose whether to invest in Europe or the US, what they think about most is the cost of energy.
It’s been four years since an earthquake and tsunami knocked out the nuclear reactor at Fukushima; the tragedy eventually determined the shut down of all of the nation’s nuclear power plants. Now, in 2015, Japan will switch on a reactor at the Sendai nuclear power plant, after the energy prices have risen almost 30% in the last four years.