While the coalition agreement of the new German government sets the course for the German climate policy, the UN climate conference agreed on global measures for climate protection. The expected operation of Nord Stream 2 is paused indefinitely as the Federal Network Agency has halted the certification process. The CO2 price is at an all-time high and there is also a new record on the spot market.
In October 2021, new record prices on energy markets are prevailing. The EU Commission launches a toolbox as short-term response to high energy and commodity prices. Another consequence of the price rally: A switch took place from natural gas to oil and oil products in the energy sector. Besides that, there will be a reduction of the EEG levy for 2022.
The offshore wind auction clears subsidy free. The new federal government will set the course for climate policy in Germany. Preparations for the start of national emissions trading are in full swing. New record prices for gas & co. have been set on the short-term and futures markets.
In August, the results of the third round of innovation tenders have been published. The federal government receives record revenues on emissions trading. The starting signal was given for the first tender round for fast charging stations. New record prices on both short-term and futures markets.
The EU Commission has presented a new legislative package with more ambitious targets. The results of the coal and solar tenders were announced. While the PV tenders were significantly oversubscribed, the bidding volume at the coal tenders was not as high. New records were set on both the short-term and forward markets.
The Climate Protection Emergency Programme was adopted at the end of June, although less ambitiously than expected in advance. Other topics in June 2021 are the results of the first wind tender since 2017 with more than 1000 MW awarded and the lower share of renewables in the first quarter of 2021. Moreover, prices on the futures market reach new highs.
A lot happened in the energy sector in May. The targets for CO2 emission reductions in the Climate Protection Act were tightened. A full exemption from the EEG levy for green hydrogen is in sight. The CO2 lead contract has reached record prices.
The EU Commission ratifies the German renewable energy act 2021. Hydrogen also continues to boom, with energy giants planning their hydrogen strategies. The EU’s increased climate target agreed on in April could lead to a tightening of the EU ETS in June. Commodity and CO2-prices continued to rise in April, and strong winds caused negative prices on the spot market during Easter.