PARIS/FRANKFURT (Reuters) – Sun and wind in western Europe will be crucial this summer to ensure enough renewable electricity supplies to Germany and France, where nuclear power may fail to deliver, traders and analysts say.
Demand for power rises in the summer when homes and businesses turn on cooling devices but with a big chunk of Germany’s nuclear capacity out and a possible cut in French nuclear capacity due to a severe drought, things may get tight.
FRANKFURT (Reuters) – German power market experts on Monday said they are concerned about the lack of a longer-term power buffer as some 8,800 megawatts (MW) of nuclear capacity look set to stay shut for good.
The ruling coalition announced plans for Germany to exit nuclear power by 2022 in a significant reversal of policy in light of Japan’s Fukushima nuclear crisis.
FRANKFURT (Reuters) – The European Investment Bank (EIB) will support Germany’s move toward more green power with billions of euros in coming years, focusing on offshore wind and transport grids, an executive of the bank said on Friday.
Roughly 1.1 billion euros ($1.6 billion) of an overall 7 billion euro credit volume extended to Germany last year were devoted to energy, and that figure is due to rise by 2020, Vice President Matthias Kollatz-Ahnen told Reuters at an energy conference.
SALZBURG, Austria, May 19 (Reuters) – Gazprom (GAZP.MM: Quote, Profile, Research) on
Thursday criticised European gas importers for backing spot
prices as a better benchmark for supplies rather than the long
term price deals to which they have committed with Russia.
Gazprom’s European customers have been stung by high
contractual prices in long-term deals, while weak demand and
oversupply curbed prices at spot gas trading hubs in Europe.
SALZBURG, Austria (Reuters) – Germany’s emerging new energy future without nuclear has awoken interest from utility companies to build new gas-fired power stations, gas supplier Wingas said on Wednesday.
“We are currently in talks with between five and 10 parties which are interested in building gas-to-power plants about possible long-term gas supplies,” Wingas chairman Gerhard Koenig told Reuters in an interview.
SALZBURG, Austria, May 18 (Reuters) – Wingas, a German joint
venture between BASF (BASFn.DE: Quote, Profile, Research) and Gazprom (GAZP.MM: Quote, Profile, Research), warned
2011 sales volumes would not be as high as last year’s, when new
customers and the coldest winter since 1969 fuelled demand.
German annual sales growth of 9 percent outdid overall 2010
sales growth by 5 percent and the German gas market as a whole,
where sales increased 4 percent, said Wingas chairman Gerhard
Koenig at a press conference on Wednesday.
FRANKFURT, May 10 (Reuters) – Trading volumes in most
European power markets are set to grow again this year after an
increase of 9 percent across the region in 2010, a report by
research company Prospex said.
Europe’s economic recovery and Germany’s increasingly
anti-nuclear policy have driven prices higher in the region and
forced traders to adjust their positions in Europe’s biggest
single market, Prospex said.
FRANKFURT/LONDON (Reuters) – Germany will be more reliant on the fickle weather for electricity in May and the fourth quarter as reduced nuclear supply cuts capacity and renewable energy may struggle to fill the gap.
Analysts said they see upwards pressure on power prices as a result.
After Japan’s nuclear crisis in March, Germany closed half of its nuclear capacity temporarily and rowed back on longer life cycles for all nuclear plants.
FRANKFURT, April 1 (Reuters) – RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) emerged the
only German utility spoiling for a legal fight against the
government’s move to shut down the nation’s oldest nuclear power
RWE, the country’s largest power producer, said on Friday it
had filed a legal complaint against the German state of Hesse,
which ordered a 3-month shutdown of RWE’s Biblis nuclear plant
following the federal government’s about face in nuclear policy.
KASSEL, Germany (Reuters) – Germany’s change of heart on nuclear energy will likely produce power capacity shortfalls that could be filled by natural gas, a board member of supplier Wintershall said on Thursday.
“A number of gas-fired power station projects were put on ice when the government lengthened nuclear life cycles last autumn,” said Gerhard Koenig, in charge of gas trading at the BASF unit that spans oil and gas production through to sales.