Germany imported fossil energy for more than 80 billion euros from abroad in 2023, according to a study by the Öko-Institut commissioned by the Green European Parliament member Michael Bloss, which was reported by the newspapers of the “Redaktionsnetzwerk Deutschland”(Friday editions).
According to the study, Germany imported coal, oil and gas worth 80.7 billion euros, representing a 20 percent increase in costs compared to the pre-war year of 2021. Although the costs have risen, the imported amount of energy to Germany has decreased.
“In contrast to the European Union, the total import of energy carriers to Germany is characterized by a clear downward trend”the study says. “This decline was mainly driven by the decline in gas imports (about 50 percent) and the significant decrease in coal imports.”
For all EU countries, the Öko-Institut calculated that 315.8 billion euros were spent on importing fossil energy worldwide in 2023, representing a 45 percent increase compared to 2021, despite a slight decrease in the imported amount of energy across the EU. “Coal, oil and gas imports are a loss-making business for society as a whole. We lose more than 80 billion euros every year to fossil companies”Bloss said to the RND.
“We must get out of this dependence much faster and use the money to invest in the domestic sector and make electricity, e-cars and climate-friendly alternatives affordable”he said, referring to the idea of using the money to finance the development of renewable energy sources in Germany.
Bloss pointed out that the costs for fossil energy imports are “staggering”and that the money could be better spent on modernizing the European power grid or infrastructure. “315.8 billion euros a year, instead of flowing into the import of coal, oil and gas, could be used for the modernization of the European power grid or infrastructure”the Green politician said.
The high sums for fossil energy are “mind-boggling”said Bloss, adding that the money could be better used for the digital and green transformation of the European economy, as well as strengthening the EU’s defense capabilities.