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.
While the EEG amendment for 2021 has still not been finally adopted, the new energy balancing market started in Germany on 2 November 2020 and the EU Commission has approved the German coal phase-out. Prices on the futures market rose again in November 2020.
While the renewable energy levy for 2021 was politically capped in advance at 6.5 ct/kWh, there were major changes in the scenarios of the International Energy Agency’s World Energy Outlook 2020. With rising Corona figures, the commodity markets also plummeted again towards the end of October.
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.
Just in time for the 20th anniversary of the German renewable energy law (EEG) a new amendment is currently being discussed. It is to be passed before the end of this year and is to come into force on January 1, 2021. In this article we explain the most important changes.
In the second part of this blog series, we elaborate on the links between the coronavirus pandemic and energy markets. Specifically, we examine the possible medium-term consequences for the front years 2021 to 2025 on Europe’s electricity markets due to the coronavirus and the turbulences on the oil market. We conducted the analysis using the fundamental model Power2Sim.
The global spread of the Sars-CoV-2 pathogen has an impact on all global energy markets. With lower demand for energy due to social and economic constraints, commodity prices on the markets have collapsed dramatically.
What course was set for the energy industry in 2019 and what will be remembered until the next decade? In 2019, the discussion was completely dominated by the climate package, the “right” CO2 price and the preparations for the coal phase-out. Another top topic from the market side: PPAs come leave their niche. For renewables positive as well as negative records have been set.