Montel Magazine 1 2022 - Uproar over green investm Montel Magazine 1 2022 - Uproar over green investm - Page 10

Market talk

EUR 100 / MWh this year after breaking records in 2021 , according to analysts polled by Montel . The average estimate of a poll among six analysts expected the German Cal 23 to average EUR 105.98 / MWh this year and the Cal 24 to average EUR 92.17 / MWh . The German front year , a European benchmark , averaged EUR 88.26 / MWh last year on the EEX , the highest average price for a front year on the exchange since the start of trading in 2002 . “ This year , German power will be driven by the same factors as last year , so mainly gas but also carbon ,” said Lisa Anna Zafoschnig of Thema Consulting in Oslo . She pointed to record low gas storage levels going into 2022 , which should lead to high European demand to fill sites after the winter and geopolitical tension amid uncertainty about Russian gas deliveries . JD
Germany approves closure of 0.5 GW coal plants Germany ’ s BNA network regulator has approved the closure of 0.5 GW of coal-fired capacity by 22 May 2023 in a fourth tender . The three successful bids were Uniper ’ s hard coal-fired unit Staudinger 5 ( 510 MW ) and two smaller industrial lignitefired units , Euskirchen ( 14 MW ) and Konnern 1 ( 8 MW ) of sugar producer Pfeifer & Langen . Closure payments ranged between EUR 75,000 / MW and EUR
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116,000 / MW , the regulator said , without adding further details . This round ’ s cap was set at EUR 116,000 / MW . The country aims to close all coal-fired power output by 2038 at the latest . CD
Italy ’ s renewable sector slams windfall profit levy plans Italy ’ s latest package of government emergency measures will penalise firms needed to achieve the country ’ s green energy targets , representatives from the renewables sector said . The government approved a new string of measures to tackle spiralling wholesale energy prices and limit their impact on industry . The package , which is worth EUR 1.7bn , also included a temporary measure to claw back profits from solar energy producers , who received incentives under a prior subsidy scheme , deemed to have profited from the high prices . The windfall tax would also be levied on unsubsidised wind , geothermal and hydropower producers . ET
Spain freezes 7 % generation tax until 31 March The Spanish government extended an ongoing freeze of its controversial 7 % generation tax until the end of March , in a bid to reduce power costs as high prices looked poised to persist this year . Some experts noted the cabinet was likely to extend the measure to Q2 and possibly Q3 , with forward prices failing to ease as expected . The cabinet also extended a VAT reduction on electricity bills for some consumers until 30 April . In June , the government suspended the taxes amid a surge in power and gas prices . Spain first suspended the generation tax for a six-month period three years ago in the face of rising wholesale prices . PB
Madrid approves roadmap for 1-3 GW offshore wind by 2030 Spain has approved a policy to develop 1-3 GW of floating offshore wind capacity by 2030 , with up to 60 MW of wave and tidal projects . The Spanish government pledged EUR 500m-1bn in investment for port infrastructure and at least
EUR 200m for research and development to 2023 as part of the roadmap . The 3 GW target would meet 40 % of the EU goal to have 7 GW of floating wind projects by the end of the decade . BB
France to build up to 14 reactors , scraps closure plans France aims to build up to 14 nuclear reactors , while scrapping a plan to close 12 existing units by 2035 , president Emmanuel Macron said when setting out his vision for future energy policy .“ I want six EPRs [ European pressurised reactors ] to be built [ by 2050 ] and I want to launch the studies for eight additional EPRs ,” he added , saying the construction of the first reactor would start in 2028 and come into service in 2035 . No nuclear plant should be closed
EDF cuts 2022 nuclear output target to 295-315 TWh
EDF has cut its 2022 nuclear production target to a new record low of 295-315 TWh , down from a previous estimate of 300-330 TWh last month due to ongoing safety checks of its nuclear fleet . It slashed the output target for 2023 , currently at 340-370 TWh , by 12 % to , or 40 TWh , to 300-330 TWh due to ongoing safety checks and a “ heavy ” maintenance programme . The firm attributed the revision to ongoing safety checks and repairs to its nuclear fleet , it added in a statement . In addition , there were “ 43 reactor outages for maintenance and inspection … plus four scheduled outages starting in 2022 that will continue into 2023 ”. MB / ST
Montel Magazine 1 – 2022