Senior Power Correspondent
Vera's Feed
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.

May 10, 2012

RWE further reduces exposure to high import prices

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.

May 9, 2012

E.ON says its gas, energy trade is turning a corner

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.

May 2, 2012

German energy meeting identifies power gap-sources

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.

Apr 23, 2012

EEX exchange aims to double screen use over 3 years

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
internet.

Mar 29, 2012

Stagnant Europe power trade expected this year

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.

Mar 28, 2012

Deutsche Bank sees upside for German power curve

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.

Mar 23, 2012

E.ON urges Europe to stretch CO2 plans out to 2030

BERLIN, March 23 (Reuters) – E.ON, Germany’s
biggest utility, on Friday joined other heavy polluters in
urging the European Commission to stretch its carbon-cutting
policy out to 2030, to harmonise renewable energy targets and to
back the bloc’s energy industry in global competition.

“I propose to expand the view to 2030 and to provide for the
adjustment of available CO2 emissions rights certificates,”
E.ON’s chief executive Johannes Teyssen told reporters in
Berlin.

Mar 21, 2012

German solar tariff cuts no remedy – cartel chief

BERLIN, March 21 (Reuters) – Planned cuts to German solar
power support fees will not tackle the problem of excessive
subsidies and quotas may be a good way forward, the head of
Germany’s cartel office said on Wednesday.

The German government has decided to slash tariffs by 37
percent from April 1 but the move, already delayed from a
previously envisaged March 9 timeline, has proven controversial
even within the ruling centre-right coalition.

Mar 20, 2012

Germany, France oppose emergency oil stocks release

PARIS/BERLIN (Reuters) – France and Germany oppose an emergency release of oil stockpiles, which they believe should be used to offset supply disruptions rather than tame oil prices, officials from both countries said on Tuesday.

Sources told Reuters last week that Britain has decided to cooperate with the United States in a bilateral agreement to release stocks, in an effort to prevent high fuel prices derailing economic growth.

    • 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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