Energy Newsletter

Spot gas prices in Germany have risen above €60/MWh – approximately six times higher than in the USA. The price spirals endanger German industry and energy supply, triggered by geopolitical tensions in the Middle East and Ukrainian blockades. This shock forces energy suppliers to switch to more expensive coal and threatens economic competitiveness.

Bundesnetzagentur warns: Germany lacks sufficient power plants, the grid will be partially overloaded in 2026. 45 terawatt-hours of redispatch measures are necessary to prevent power outages. Since the nuclear phase-out in 2011 and further 26 GW capacity losses, guaranteed capacity has dropped critically.

During windless darkness (e.g., 23.3.2026), Germany imported 13 GW of electricity – dependence on French nuclear power and foreign capacity. Daily data shows CO₂ emissions of 302g/kWh despite high wind and solar share. The intermittency of renewable energies remains a structural problem of the energy transition.

E.ON increases investments from €43 to €57 billion for grid modernization and smart meter rollout (1 million meters deployed). The company positions itself as an infrastructure player in the energy transition. EnBW expects stable earnings with higher dividends – market consolidation among energy suppliers is evident.

Allegations against board members over conspicuous proximity to E.ON and RWE; ex-E.ON manager now minister. Simultaneously, EU court negotiates cartel complaint against E.ON/RWE acquisitions. Trust crisis in energy sector threatens reform support in critical phase.