Germany won’t create new subsidies for renewables or customers to finance a faster exit from nuclear energy announced last year, Focus reported, citing an interview with Environment Minister Peter Altmaier.

“I will not create new subsidies as we need to get our energy policy working on the principles of a market economy,” Altmaier told Focus. It is clear the decision to exit nuclear energy will increase electricity prices in Germany, Focus cited Altmaier as saying.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net