FRANKFURT, Dec 11 (Reuters) – Germany’s energy agency has
called on the government to allow power grid companies to raise
tariffs to provide a greater incentive for the billions of euros
of infrastructure investment needed to support the shift to
The Fukushima nuclear disaster in Japan last year prompted
Germany to switch off large parts of its nuclear generation
capacity and speed moves towards greater reliance on green
energy, with 35 percent of the country’s power to be derived
from renewables by 2020.
FRANKFURT, Nov 29 (Reuters) – Germany passed legislation
designed in part to help prevent blackouts as the country moves
towards relying on renewable energy and out of nuclear power.
Following the Fukushima disaster in Japan, Germany embarked
on a costly retreat from nuclear and an expansion of green power
sources such as solar and wind, but this is placing strains on
the grid because such renewable sources are intermittent.
FRANKFURT, Nov 27 (Reuters) – German power networks needed
nearly three times the intervention of technicians last year as
in 2010, a cartel office report showed, highlighting the strain
on the grid ahead of the 2012/2013 winter.
Compared with a year earlier, the number of threats to the
normal running of the network in 2011 rose to 4,548 hours from
1,403 hours in the previous year, said the report on Tuesday,
which the authority issued jointly with the network regulator.
FRANKFURT (Reuters) – Germany’s No.2 utility RWE (RWEG.DE: Quote, Profile, Research) gave a more optimistic outlook for 2012 earnings after halving losses at its energy trading unit by renegotiating gas price contracts.
Gas contracts have been a major problem for European utilities which agreed long-term deals with companies such as Gazprom (GAZP.MM: Quote, Profile, Research) and Statoil (STL.OL: Quote, Profile, Research) when prices were high, having to sell to retail customers at lower tariffs.
FRANKFURT (Reuters) – BASF will grant Russian gas company Gazprom full control of their jointly run European gas trading and storage activities to gain more access to Siberian gas fields.
“Through the swap, BASF aims to further expand its production of oil and gas and to exit the gas trading and storage business,” German chemicals group BASF said in a statement on Wednesday. It declined to provide a deal value.
FRANKFURT, Nov 14 (Reuters) – Germany’s No.2 utility RWE
raised its outlook for 2012 core earnings, helped by
cost cuts, disposals and an improved performance at its energy
RWE said on Wednesday its capital expenditure was down by 1
billion euros ($1.27 billion) in the first nine months of 2012,
while the recent sale of assets, including its stake in British
nuclear joint venture Horizon, has gained momentum.
FRANKFURT, Nov 13 (Reuters) – Germany’s No.1 utility E.ON
warned of weakening power demand in Europe and
signalled it may have to close plants and step up saving efforts
after cutting its outlook for next year.
“In most European markets, the gross margin for gas-fired
units is approaching zero or is indeed already negative. One
factor is that the demand for electricity remains very low,”
Chief Executive Johannes Teyssen said on Tuesday after the
company published financial results.
AMSTERDAM/FRANKFURT, Nov 8 (Reuters) – A giant new Dutch gas
storage facility will collide with a weak European gas market,
hit by low demand as the continent battles its economic ills.
But it will enhance the market’s flexibility and efficiency
beyond the gas market’s short term horizon of up to 2015,
traders and analysts said.
FRANKFURT, Oct 29 (Reuters) – EU rules to toughen laws
against market abuses in gas and power trading are likely to
drive operators to exchanges and away from the bigger
over-the-counter markets (OTC), energy and financial consultancy
Baringa said on Monday.
“The intention of the new rules is to shrink the OTC market
and make it more transparent and accountable,” said Susanne
Funke, head of regulatory affairs at the consultancy, on the
sidelines of a conference.
FRANKFURT/PARIS (Reuters) – Western Europe faces a potential electricity supply crisis this winter as France and Belgium struggle with their ageing reactors and after Germany took out a big chunk of its nuclear capacity.
Tight power supply may spark local blackouts in the event of a severe cold spell and could also trigger price spikes at a time industry, bruised by the economic slowdown, badly needs to save energy costs.