BERLIN, Jan 28 (Reuters) - Germany's environment minister announced a plan on Monday to lower the price of electricity for consumers - just in time for September's national elections - by sharing the cost of the switch to renewable energy more evenly with companies.
Environment Minister Peter Altmaier said laws would be passed by Aug. 1 this year capping increases in subsidies to renewable power producers for two years and allowing feed-in tariffs to new installations to be suspended for a few months.
The proposal, which would need the approval of the economy ministry and the German states, foresees owners of existing green energy installations contributing up to 300 million euros ($404 million) to the plan while the suspension of feed-in tariffs to newcomers could save up to 500 million euros more, Altmaier said in a statement.
Companies with high-energy consumption would have to bear a greater burden for renewable power subsidies, he said. ($1 = 0.7421 euros)
(Reporting by Markus Wacket; Writing by Stephen Brown) Keywords: GERMANY POWER/PLAN
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