Energy Newsletter

Economy Minister Katherina Reiche, former E.ON manager, is driving massive changes in renewable energy expansion and wants to implement concepts from her former employer. 28 changes to an expert opinion all point in the same direction. This raises questions about conflicts of interest and lobbying influence on Germany's energy transition.

German gas storage levels are at only 50% capacity in August 2026 instead of the usual 80%, while European TTF gas prices have risen above €60/MWh. Following the loss of Russian gas imports, Germany is paying 5 times the former gas prices. A harsh winter could lead to shortages and factory shutdowns.

Amprion, 50Hertz, TenneT and TransnetBW sent an urgent letter to the Federal Network Agency warning of an impending shortage in the electricity grid. The state is subsidizing the TSOs with €6.5 billion in 2026 for grid expansion, but from 2028 onwards the supply security standard is expected to decline significantly.

RWE delivers exceptionally strong H1 2026 results with adjusted EBITDA of €3.011 billion (+44% YoY) and confirms guidance. The energy company benefits from its Amprion stake and renewable investments, while E.ON and EnBW show more stable results.

German electricity prices are at €87/MWh (May 2026 forward), French prices only at €22/MWh – multiple times higher due to nuclear phase-out and gas backup dependency. Renewables cover 57% of H1 2026 electricity demand, but household tariffs average 37 ct/kWh.