Energy Newsletter

Since September 2026, coordinated sabotage attacks on critical power infrastructure of RWE, 50Hertz, and Amprion have intensified – several substations were damaged, grid lines went down. RWE CEO demands enhanced protection measures, Amprion CEO plans drone surveillance. The attacks endanger the stability of the German power grid in an already strained supply situation.

1-year electricity prices in Germany have risen to €122/MWh (highest level since 2023), driven by European gas prices that have doubled within one year (>€70/MWh). German gas storage levels are at only 50% – critically low for winter preparation. Germany pays €0.387/kWh, the highest electricity prices among G20 nations.

The four transmission system operators (50Hertz, Amprion, TenneT, TransnetBW) warn in an urgent letter of impending shortage situations – despite record expansion of renewable energy (59.1% H1/2026). TenneT reports 93.9% green power in its network, while Amprion only achieves 29.6% – massive regional imbalance. 717 network connection applications totaling 270 GW are pending – grid expansion cannot keep up with connection capacity.

In H1 2026, renewable energy for the first time reached 59.1% of electricity generation (wind, solar, biogas), Germany reduced electricity imports from 10.1% (Aug. 2025) to 0.6% (Aug. 2026). Despite record green power and near-autarky, electricity prices remain at the top across Europe – gas dependency and grid bottlenecks neutralize cost advantages. Paradox: energy transition technically successful, economically burdensome.

EnBW has completed 960-MW offshore wind farm with 64 turbines (operational by late summer 2026), Vattenfall opens 46-MW solar park. UBS upgrades E.ON to Buy with target price €20, identifying €5-10 billion financing headroom for grid expansion. Major projects of energy companies are delivering, but grid infrastructure remains the bottleneck for green power integration.