High electricity cost drives German high-tech industry to Asia

High electricity cost drives German high-tech industry to Asia. By GWPF.

Siltronic, one of the world’s leading chip makers, is moving Germany’s top high-tech company to Asia.

Siltronic boss Christoph von Plotho blames Germany’s high energy costs for the decision: “The high electricity price makes the location unattractive,” he said in an interview with the Handelsblatt. His company pays “less than half the electricity price” in Singapore.

The main cost driver in Germany is the green energy levy under the Renewable Energy Sources Act (EEG) which has cost energy consumers more than 30 billion euros last year.

Germany’s largest semiconductor producer Infineon told Handelsblatt that insecure power supply was also a major factor in reconsidering industrial production in Germany and Europe.

Who benefits? It’s almost as if China is behind the global warming scam/green energy boondoggle as well!?