Energy Newsletter

European gas prices have more than doubled from €30/MWh (Sept. 2025) to €81/MWh (Sept. 2026). German gas storage levels are below 50% capacity – the lowest value for this time of year in 15 years. Goldman Sachs forecasts that gas prices must rise above €100/MWh to secure winter supply.

Vattenfall approves construction of a 254 MW battery storage facility at the Brunsbüttel site (former nuclear power plant). EnBW is building a parallel 400 MW/800 MWh storage facility in Philippsburg. These projects are central to grid stability with high wind penetration and mark industry's pivot from nuclear power to storage technology.

In H1 2026, 59.1% of electricity came from wind, solar, and biogas – a record in Germany. At the same time, Germany has the highest electricity prices among G20 nations at €0.387/kWh. Electricity imports fall to 0.6% (Aug. 2026), but expensive grid infrastructure and storage expansion burden end-consumer prices.

Police investigate coordinated sabotage at critical substations: Amprion substation Bergheim (Sept. 2), 50Hertz facility Jänschwalde (Sept. 1). All four transmission network operators warn in an urgent letter to the Federal Network Agency of impending supply shortages if grid expansion targets are not met.

EnBW completes installation of 64 wind turbines (15 MW each) for 960 MW offshore capacity, operational commissioning by late summer. UBS upgrades E.ON to 'Buy' (price target €20). E.ON expands specialized retail for energy components in Germany/Austria/Switzerland – signal for consolidation of the 'Big Four' in the energy market.