Senior Power Correspondent
Vera's Feed
Jul 3, 2012

Gazprom bows to European client price pressure

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
renegotiate.

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.

Jul 2, 2012

Many EU utilities ignorant of new trade rules, study finds

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
on Monday.

“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.

Jun 25, 2012

German shale gas reserves up to 22 trln cbm – study

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.

Jun 14, 2012

German hard coal imports seen down 7 pct in 2012

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.

Jun 13, 2012

E.ON seeks 8 bln euros in nuclear exit damages

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.

May 29, 2012

Germany counts cost of nuclear-to-renewables shift

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.

May 29, 2012

Germany in 20 bln euro grid upgrade as it quits nuclear

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.

May 18, 2012

Analysis: Germany’s Merkel losing green battle to cheap coal

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.

May 15, 2012

Europe’s gas suppliers to keep grip on market-E.ON

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.

May 11, 2012

RWE to apply to tear down idled Biblis nuclear plant

May 11 (Reuters) – German utility RWE will apply
to the authorities in the coming months to break up two idled
nuclear power reactor blocks at the Biblis site, the first step
in a lengthy process likely to take many years, the company said
on Friday.

“RWE Power (the generation arm) will in the coming months
prepare an application…for direct break-up of the Biblis power
station, which will be submitted to the Hesse state authorities
in the second half of the year,” it said on its website.

    • About Vera

      "I report on German power and gas markets in liaison with a team of other specialists in European bureaus. I am based in Frankfurt and previously covered commodities out of Hamburg and London. My aim is to identify market and industry trends and to produce high quality copy which is accessible to expert subscribers as well as to energy and business audiences, and to help shape our energy products."
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