The German Left Party has cautiously welcomed the federal government’s recent investment in grid operator Tennet, immediately advocating for a complete nationalization of the company. Ines Schwerdtner, co-chair of the Left Party and a member of the Bundestag’s budget committee, characterized Tennet as a “natural monopoly with absolutely secure returns” suggesting that state intervention was inherently justifiable.
However, Schwerdtner sharply criticized the government’s decision to acquire only a minority stake – specifically, 25.1% – of the company. She argued that a genuine opportunity to secure a strategically vital asset for the public good had been missed. “The government is privatizing the profits while burdening the state with the risks” she stated, referencing the parliamentary budget committee’s approval of funding for the limited acquisition.
The Left Party’s concerns center on the potential for greater public benefit. Schwerdtner contended that the current arrangement allows profits to flow to large investment funds, resources that could be redirected to alleviate the energy crisis facing German households. She specifically pointed to the possibility of lowering grid fees, a direct reduction in electricity prices for millions of consumers, an outcome she believes is now forfeited.
Schwerdtner leveled criticism at Economics Minister Katarina Reiche (CDU), accusing her of prioritizing private investor returns over the welfare of German citizens. “This is not responsible energy policy, but policy in the interest of financial investors” she asserted. The move highlights a growing tension between government aims of securing energy infrastructure and the pressures of a market-driven economy, with the Left Party arguing that a more robust and publicly controlled model is necessary to address escalating energy costs and ensure a sustainable energy transition. The limited federal involvement raises questions about the government’s long-term commitment to affordable energy and its willingness to challenge the influence of private capital in critical infrastructure.