The coal phase-out was decided in July 2020, as was the Building Energy Act. The EU Commission has published a hydrogen strategy and the half-year statistics for the electricity sector show strong renewables of over 50 percent. On the price side things continued upwards in July.
There has been little change in the tenders for renewable energies: PV was oversubscribed whereas wind was undersubscribed. However, June 2020 brought news on the legal and political front. Prices at the long end are pointing upwards again more strongly in June 2020.
Even if European countries have retracted Corona measures, the pandemic still has a major impact on energy policies and markets. PV beats wind in joint tenders and policy makers have agreed on changes for PV and wind. At the long end prices, stabilised or even went up again in May 2020.
Coal-fired power generation is sinking, wind is disappointing in tenders for renewable energies and PV is booming, and the National Hydrogen Strategy is making progress – these were the big issues in February.
In order to limit price peaks in the balancing energy price, the Federal Network Agency introduced the mixed-price system in the balancing market. However, this procedure was not free of problems either.
In the second part of our series on the “The German electricity balancing market in transition” we discuss what problems arose during implementation and how the market behaved.
15. January 2020 / Sila Akat / Comments Off on Energy market review November 2020 Series
While the EEG amendment for 2021 has still not been finally adopted, the new energy balancing market started in Germany on 2 November 2020. Besides that, the EU Commission has approved the German coal phase-out. Prices on the futures market rose again in November 2020.