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?
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.