Anyone who thought the energy year 2021 would be rather quiet after the turbulent Corona year 2020 was proven wrong by September 2021 at the latest. While climate protection was the main topic in the first half of the year, the second half brought record prices in almost all markets.
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 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.
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.
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.
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.
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.