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.
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
“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.
FRANKFURT, May 10 (Reuters) – RWE, Germany’s No.2
utility, said it has further reduced its exposure to previously
agreed high import prices and is on target to be free from
crippling gas losses after 2012 at the latest.
The company said it was conducting price reviews with its
gas suppliers and had already received compensatory payments for
some contracts, the last one of which was in April.
FRANKFURT, May 9 (Reuters) – German utility E.ON’s
merged gas and trading units swung to profit in the
first quarter of this year, after big losses last year, the
company announced on Wednesday.
It said the turnaround followed progress on gas contract
talks and better handling of price fluctuations after the loss
of its nuclear generation assets.
BERLIN, May 2 (Reuters) – Germany’s accelerated nuclear exit
and its increased reliance on renewables is likely to cause a
power gap equivalent to the output of up to 15 plants by 2020,
participants at a high-level energy meeting agreed on Wednesday,
according to sources.
The meeting hosted by Chancellor Angela Merkel and attended
by leading energy executives reached no decisions on how to fill
the shortfall, the sources told Reuters.
FRANKFURT, April 23 (Reuters) – The European Energy Exchange
(EEX) plans to double the number of screens using its data over
the next three years by deepening existing customer contacts and
merging more cross-asset energy trading and clearing in the
region, executives said on Monday.
“The goal is to double the number of screens which make EEX
products and prices visible within the next three years,” board
member Steffen Koehler told a news conference broadcast over the
FRANKFURT, March 29 (Reuters) – Trading volume in the
European wholesale power markets is unlikely to bounce back
after an estimated 12 percent contraction in 2011, a report by
research company Prospex said.
“…very few (market participants) foresee any striking
growth and a common view is that the market will simply tick
over,” said Prospex in abstracts from the report, which is due
to be published on April 2.
FRANKFURT, March 28 (Reuters) – German power curve prices in
the wholesale market may well not reflect coming capacity
closures, said Deutsche Bank Research (DBR) on Wednesday,
holding on to price scenarios drawn up after the country’s
partial exit from nuclear power last year.
“Given that we are still factoring in 14 gigawatts (GW) of
capacity withdrawals over 2012-15,…, we still expect prices to
rise by more than the forward curve is currently indicating out
to 2015,” said the bank’s research authors, Mark Lewis and
Michael Hsueh, in a note.