FRANKFURT (Reuters) – Gazprom’s (GAZP.MM: Quote, Profile, Research) deal to take over the gas trading arm of Germany’s BASF (BASFn.DE: Quote, Profile, Research), a leading player in Europe, will be sealed this autumn with no impact expected from sanctions against Russia, said a board member of the BASF unit Wingas.
Ludwig Moehring also reiterated that small declines in Russian gas supply to some European countries this month were within normal variations, which he said was reflected in the way gas prices had failed to rally on them.
FRANKFURT, Sept 11 (Reuters) – German industry should be
more adaptable when dealing with the frustrating fluctuations in
renewable energy supply and costs, the head of Danish utility
Dong Energy A/S’s German unit said.
Foregoing or delaying planned power consumption and
receiving revenue in return could help German industry’s
increasing reliance on renewables, Mathias Wendel said.
BRUSSELS/FRANKFURT, July 9 (Reuters) – European Union
authorities have reached a deal with Germany on how to make its
proposed green energy law compatible with EU state aid rules,
the bloc’s antitrust chief said on Wednesday.
The European Commission has been examining Germany’s
revamped renewables legislation (EEG), which protects heavy
industry from the cost of funding green energy, on concerns that
this may give some companies an unfair advantage.
FRANKFURT, July 8 (Reuters) – German power grid operator
50Hertz plans to invest 400-500 million euros this year to erect
transmission lines that will carry wind power from Germany’s
remote areas to its industrial centres to support its shift from
fossil fuels to renewable energy.
Chief Executive Boris Schucht said in an interview the
eastern German transmission system operator is among companies
holding the key to ensuring the transformation process known as
the ‘Energiewende’ gets the infrastructure support necessary to
FRANKFURT, July 2 (Reuters) – Europe’s utilities will
continue to suffer from low wholesale power prices eroding their
revenues until the end of the decade as rising renewable output
and low demand combine, rating agency Moody’s said on Wednesday.
Europe’s power generators have been squeezed by the
expansion of renewable energy, which is creating overcapacity
and eroding prices, while profitable coal-fired power stations
are forced to close under European climate protection policies.
BERLIN, June 25 (Reuters) – German Chancellor Angela Merkel
said on Wednesday she would push back decisively against the
European Commission if it raised further objections to Germany’s
system of green power subsidies.
Berlin and the Commission have been at odds over the German
policy under which consumers pay a surcharge to finance
renewable energy while heavy industrial users are exempt. The
Commission raised new objections on Monday, which led to Germany
offering to change its planned reform at the last minute.
FRANKFURT/MILAN, May 28 (Reuters) – Britain may receive more
liquefied natural gas (LNG) from the world’s biggest producer
Qatar under a deal signed by utility E.ON on
Wednesday, underscoring growing dependence on the Gulf State as
indigenous North Sea reserves run dry.
Eon’s energy trading arm struck a deal to send up to 2
billion cubic metres of gas over three years from Qatari
producer RasGas to Britain’s Isle of Grain import terminal,
where Eon has import rights.
FRANKFURT, May 20 (Reuters) – There are signs of hope for
German utilities looking for help to keep loss-making plants
open as Economy Minister Sigmar Gabriel drives energy reforms
and the regulator signals his support for lifting the sector out
The government wants utilities to keep gas- and coal-fired
plants open to ensure power supply when there is a lull in
variable wind or solar energy.
BERLIN, April 29 (Reuters) – Oversupply of German renewable
power threatens to undermine future hydroelectric operations in
neighbouring Switzerland, the chairman of Swiss utility Alpiq
said in an attack on Germany’s wind and solar
As Germany seeks to get out of nuclear energy fast and wean
itself off fossil fuels, it must also reconcile the national
plan with nine surrounding countries in converging markets that
are all affected by price movements and power flows originating
in the European Union’s biggest economy.
LEIPZIG, Germany, April 9 (Reuters) – The European Energy
Exchange (EEX) posted a 5 percent rise in trading of its
flagship electricity futures for January through March,
benefiting from declining over the counter market participation
amid tighter EU financial regulation.
Continental Europe’s biggest power bourse on Wednesday
reported 350.3 terawatt-hours (TWh) of futures traded compared
with 333.3 TWh a year earlier, according to material issued at a
news briefing at the EEX in Leipzig.