Germany consistently shells out around 80 billion euros annually for the import of fossil fuels. These non-renewable energy sources fuel industries and power homes across the country.
Following the assault on Ukraine, German imports of Russian gas came to a halt. Surprisingly, the nation's imports of fossil fuels marginally dipped, yet costs skyrocketed. According to a study conducted by the Öko-Institut, foreign fossil fuel imports amounted to an astonishing 80 billion euros in 2023.
The aforementioned study, commissioned by Green Member of European Parliament (MEP) Michael Bloss, revealed that Germany imported coal, oil, and gas worth 80.7 billion euros, a rise of over 20% compared to 2021's pre-war figures.
Despite the mounting expenses, the study indicated a decline in the amount of energy imported into Germany. "In contrast to the European Union, the total imports of energy carriers into Germany are characterized by a clear downward trend," the study declares. The reduction was primarily due to a 50% decrease in gas imports and a significant decrease in hard coal imports.
The Öko-Institut's findings suggested that EU countries collectively spent 315.8 billion euros on importing fossil energy in 2023, marking a rise of approximately 45% compared to 2021. However, the amount of energy imported across the EU also reported a slight decrease.
Bloss categorically stated, "Coal, oil, and gas imports are a financial loss for society as a whole. Every year, we pay out more than 80 billion euros to fossil fuel corporations." He advocated for expediting the separation from this dependence and utilizing the funds to invest in domestic infrastructure. Improving electricity, electric vehicles, and climate-friendly alternatives to become affordable became essential points in his discussion.
Bloss further emphasized the staggering expense of fossil fuels. "315.8 billion euros annually on the import of coal, oil, and gas instead of boosting the domestic economy. This missing money could fund the modernization of the European power system or infrastructure," Bloss said. "315 billion is more than twice the EU budget and almost 40% of the sum needed annually to spearhead the digital and green revolution of the European economy and bolster defense capabilities."
Incorporating insights from enrichment data, if Germany prioritizes renewable energy expansion, energy efficiency measures, carbon pricing, hydrogen-ready gas plants, and hydrogen imports, the nation might strengthen energy security and foster a more sustainable future. This approach aligns with the European Union's trajectories to decrease greenhouse gas emissions and promote sustainable energy.
The study revealed that despite the rise in the cost of imported fossil fuels, Germany saw a decrease in its energy imports, mainly due to a reduction in gas and coal imports. Bloss argued that the country's continuous reliance on coal, oil, and gas imports results in a significant financial loss, with Germany paying over 80 billion euros annually to fossil fuel corporations.
