German businesses warn of energy supply shortages, high prices due to nuclear phaseout

BERLIN (AA) - Germany could face energy supply shortages and high prices in the coming months due to the nuclear phaseout, a major business association warned on Tuesday.

Peter Adrian, the president of the German Chamber of Commerce and Industry (DIHK), has called on politicians to consider extending the runtime of the country’s three remaining nuclear power plants.

“Although natural gas prices have fallen recently, energy costs remain high for most businesses,” Adrian told Rheinische Post newspaper.

"At the same time, we are not yet out of the woods when it comes to the security of energy supply,” he said.

He underlined that the majority of German businesses are demanding an extension to the runtime of the nuclear power plants until the energy crisis is over.

Chancellor Olaf Scholz’s coalition government is planning to phase nuclear power out and fill the gap with renewable energy and alternative sources. The country’s last three nuclear power will be shut down on Saturday, according to the plan agreed upon last year.

The government is trying to prevent energy shortage by purchasing more gas from Norway and increasing imports via pipelines from Belgium and the Netherlands.

To receive enough liquefied natural gas (LNG) to entirely replace Russian gas, Berlin is also building new terminals at northern German ports.