Germany’s Second Largest City De-Privatizes Local Power Grid

The city of Hamburg voted on Sunday to re-acquire a controlling stake in the local electric power grid, which is currently owned by the Swedish power company  Vattenfall and German utility E.ON.

The government of Hamburg already owns a 25.1% stake of the grid.

The decision to de-privatize the power grid was the result of a popular referendum.
The local Green Party supported municipalization of the power grid, but Hamburg’s governing Social Democrats (SPD) and several other political groups, including the Christian Democrats and Free Democrats, opposed doing so.

The success of the referendum is likely to encourage similar efforts in Berlin, which is scheduled to vote on the same issue in November.

Vattenfall currently owns Berlin’s electric power grid.

http://www.forbes.com/sites/williampentland/2013/09/24/germanys-second-largest-city-de-privatizes-local-power-grid/

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