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In the Energy BrainBlog, we inform you about the latest in power and energy trading in Europe. We regularly produce summaries as well as detailed reports on energy policy, energy supply, price developments, commodity markets and more.
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The European energy system will undergo major changes in the coming decades in order to continue to guarantee a secure supply against the backdrop of climate change. As part of the EU Green Deal, Europe is striving to become the first climate-neutral continent by 2050. The realisation of these plans would mean a significant change in the supply and consumption structure of the energy-intensive sectors of the economy. What do these developments mean for power prices, revenue potential and risks for photovoltaics and wind? In the current “EU Energy Outlook 2060”, we show long-term trends in Europe.
Hardly any other market in Germany has undergone as rapid a change in recent years as the market for battery storage. Within ten years, battery storage systems with a total of 6.5 GW power and 10.1 GWh energy have been installed.
In August 2023, the German energy market experienced record-breaking electricity generation from wind and solar. However, this is not the only thing that is causing problems for coal. In the meantime, the increased CO2 prices also mean a significant competitive disadvantage for fossil energy generation. Gas and oil prices did not settle down in August either. The LNG strike and OPEC production cuts drove prices up.
Amidst German high-tech laboratories, significant scientific innovations are born, which, along with German chemical products, are exported to the entire world. The impact of chemical-pharmaceutical products extends far beyond national borders. However, their production is accompanied not only by economic gain but also by an enormous consumption of energy and resources. Hence, a vital contemporary question arises: How can carbon neutrality be reconciled with the chemical industry?
May 2023 held some exciting news for the energy industry. The German Minister of Economics, Robert Habeck, presented a working paper on the industrial electricity price. While industry representatives praise the concept, there are also critical voices. In May, the French National Assembly voted in favor of more nuclear power. In addition, the EEX published the first market-based index for hydrogen.
Will Germany put an end to oil and gas heating by 2024? Market participants have received the amendment to the Building Energy Act (GEG) with much criticism. It has been the subject of some fierce discussions. Some call it a “heating hammer” that will plunge us into economic ruin. For others, the resolutions do not go far enough. In other words, they demand a tougher stance on climate protection.
In April 2023, there were some remarkable developments in the energy markets. The EU is paving the way for a stringent ETS (Emissions Trading System). In mid-April, the last nuclear power plants were shut down, effectively sealing the fate of nuclear power in Germany. The EU platform for centralised gas procurement is now accepting its first offers. Despite suboptimal weather conditions, renewable energy sources reliably continue to deliver electricity.
With the current “EU Energy Outlook 2060”, Energy Brainpool shows long-term trends in Europe. The European energy system will change dramatically in the coming decades. In addition to climate change and an outdated power plant fleet, current geopolitical tensions are also forcing the European Union and many countries to change their energy policies. What do these developments mean for power prices, revenue potential and risks for photovoltaics and wind?