FRANKFURT, July 12 (Reuters) – Germany’s third-largest
utility EnBW said it had agreed a 10-year gas
procurement deal with a foreign supplier, giving it more
flexibility when it comes to deciding whether to store or sell
its gas depending on the market price.
The deal is for an annual volume of 21 billion kilowatt
hours (kWh), equivalent to 1.9 billion cubic metres (bcm) per
year, which is more than a third of its total gas sales and
enough to supply a huge industrial company, or a large number of
FRANKFURT, July 3 (Reuters) – Russia’s Gazprom has
given in to customer pressure and offered German utility E.ON
a price cut on its long-term gas supplies, boding
well for other firms from Germany, Italy and Poland seeking to
Germany’s biggest utility said on Tuesday it had reached a
settlement with Gazprom on long-term gas supply contracts that
would significantly raise its earnings outlook for 2012.
FRANKFURT, July 2 (Reuters) – Many European utilities are
ignoring EU rules to toughen laws against market abuses, but do
so at their peril, energy and financial consultancy Baringa said
“Utility firms will have to hold available more personnel
and technology to comply with new transparency rules within the
next 12 months or so, but many are not yet aware of this,” said
Maik Neubauer, a partner at the consultancy which released a
study based on a poll of 150 companies.
FRANKFURT, June 25 (Reuters) – Unconventional gas reserves
in Germany amount to trillions of cubic metres (cbm) and can be
safely exploited if the right rules are in place, federal
authorities said on Monday with the release of the first
findings of an ongoing long-term study.
The Federal Institute for Geosciences and Natural Resources
(BGR) said between 0.7 trillion and 2.3 trillion cbm of the gas
could be technically extracted.
DUISBURG, Germany, June 14 (Reuters) – German imports of
hard coal are likely to fall by seven percent year-on-year to 45
million tonnes in 2012, importers said on Thursday, citing the
euro zone’s economic crisis and competition from a rising share
of renewable energy in power generation.
The likely total this year would be down by 3.4 million
tonnes from 48.4 million in 2011, said importers group VDKI at
its annual news conference.
FRANKFURT, June 13 (Reuters) – E.ON AG, Germany’s
largest utility, is seeking 8 billion euros ($10 billion) in
compensation in a potential industry-wide claim against the
government for shutting down nuclear power stations.
The Frankfurter Allgemeine Zeitung newspaper reported on
Wednesday that German utilities including E.ON wanted a total of
15 billion euros but did not say how it calculated that figure.
BONN (Reuters) – Germany must invest tens of billions of euros in its power grid over the coming decade to avoid an electricity shortfall as it switches from nuclear to renewable energy, grid operators said on Tuesday.
Germany’s government, the federal energy network regulator and grid firms unveiled joint plans to build thousands of kilometers of new electricity lines by 2022, to help distribute volatile renewable energy.
BONN, May 29 (Reuters) – Germany mapped out a 20 billion
euro ($25 billion) plan on Tuesday to expand its power grid and
avoid a “power gap” as Europe’s largest economy switches away
from nuclear to renewable energy.
Germany’s government, the federal energy network regulator
and transmission grid firms unveiled joint plans for thousands
of kilometres of new electricity lines to 2022, to help
distribute volatile renewable energy.
LONDON/FRANKFURT (Reuters) – To reach its strict climate targets and fulfill Chancellor Angela Merkel’s nuclear exit plans, Germany needs to avoid coal and build a stack of gas power plants to secure clean energy supplies beyond 2020.
Yet the challenge facing Merkel’s new environment minister Peter Altmaier, his predecessor fired this week following a disastrous state election defeat, is finding a way to make gas an attractive option while coal remains the more profitable way to produce electricity for Europe’s biggest economy.
LONDON (Reuters) – The role of Europe’s traditional gas suppliers such as Russia and Norway will not be challenged by the prospect of new sources delivering into the continent, Germany’s market leader E.ON Ruhrgas (EONGn.DE: Quote, Profile, Research, Stock Buzz) said on Tuesday.
“I do believe we will see Caspian gas in Europe. I also believe we will see more LNG (liquefied natural gas) arriving in the future,” Klaus Schaefer, who doubles as chief of Ruhrgas and of E.ON Energy Trading, said at the Reuters Global Energy & Environment Summit.