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.
The targets of the new climate protection law are ambitious. For example, CO2-emissions from the energy industry must fall to 108 in 2030 instead of 175 million metric tons (Mt) as previously planned. Energy Brainpool’s latest modelling shows that such a reduction can only be achieved with an early coal phase-out. In this article, we take you through the key findings of the calculations.
March 2021 is characterised by low feed-in from renewables, like the entire first quarter of 2021. The results of the heavily oversubscribed second coal tender have also been released this month. Commodity and CO2 prices rose again in March.
In the second part of the World Energy Outlook 2020 blog series, we provide a detailed overview of the significantly adjusted development expectations for the global oil, gas and coal markets. For this, we use our fundamental model Power2Sim. The model allows us to quantitatively estimate the long-term effects on European power prices until 2040 as well as the sales revenues of renewable energies.
At the beginning of July 2020, both the Coal Exit Act and the Structural Aid Act were finally approved. Both laws were controversially discussed in advance. This article examines the key points of the two new laws.
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.
The coal phase-out has finally been stipulated in a law, even if less ambitious than the coal commission had proposed. The results of the last solar auction in December 2019 have been published and German emissions fell by about 50 million tonnes of CO2 last year. In the first month of 2020, prices at the long end continued to fall.
With the draft of the Coal Exit Law, the Federal Government has not only put the tender procedure for the shutdown of coal capacities on paper. At the same time, changes were announced for renewable energies. According to the International Energy Agency’s World Energy Outlook 2019, global CO2 emissions might rise until 2040. In terms of prices, November continues where October left off: going down.