So far in 2021, prices on the energy markets have reached record highs. Coal and gas prices in particular have risen sharply, reaching their highest levels in over a decade. These developments have partly led to a backswitch from gas to coal-fired power generation and thus, in conjunction with rising CO2 prices, also to high electricity prices. In the following, we clarify the underlying processes.
Life is increasingly determined by various global trends. The energy industry has also been undergoing a transformation for some time. One upcoming challenge is decarbonisation, while at the same time decentralisation is taking place and digitalisation is steadily increasing. These developments are taking place with varying degrees of dynamism and occasionally come to a standstill.
Although the economy suffered a slump in the first few months of last year, electricity consumption rose by almost 300 TWh over the year 2020 as a whole. The shares of renewable energies in electricity generation increased. Especially in the last quarter of 2020, more PV and wind capacity was added than is installed in Germany up to now.
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.
There are currently numerous debates about the potential of hydrogen. The question is which role hydrogen will play in the energy transition. In this article, you can find out which political regulations have already been made and which changes are just around the corner.
Hydrogen is and remains a hot topic in February 2021 with new project announcements. Furthermore, there were outright records in the prices for CO2-certificates. Commodity prices also rose in February, while renewable power generation was weak compared to the same month last year.
There are more and more indications that the increased use of hydrogen from renewable or non-CO2-emitting sources is necessary for increased climate protection efforts. The Federal Government’s National Hydrogen Strategy aims to set the framework for hydrogen production and utilisation in Germany.
By the end of 2020, the Spanish government approved the reformation of its renewable energy (RE) auctions. More precisely they did that in order to support the achievement of their RE targets outlined in its National Energy and Climate Plan (PNIEC 2030). In this blogpost, we will discuss the consequences.