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POWER: Germany Probes Late 2024 Power Price Spikes Amid Low Renewables

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

Germany's cartel office is investigating power price spikes in late 2024, prompted by low wind and solar output during dunkelflaute periods, it said today, cited by Reuters.

  • The probe aims to determine if energy companies withheld supply to exploit high prices, though no market abuse has been identified yet.
  • "It is an open probe ... there are no signs of abuses of market power (yet)," a spokesperson said in reply to an enquiry by Reuters.
  • Andreas Mundt, president of the cartel office, stated that price spikes were expected due to stricter fossil fuel curbs under environmental laws.
  • Some market participants questioned why coal and gas plants were not used more in November and December to stabilise the market.
  • The office has the authority to fine suppliers if they exploit their market position unfairly.
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Germany's cartel office is investigating power price spikes in late 2024, prompted by low wind and solar output during dunkelflaute periods, it said today, cited by Reuters.

  • The probe aims to determine if energy companies withheld supply to exploit high prices, though no market abuse has been identified yet.
  • "It is an open probe ... there are no signs of abuses of market power (yet)," a spokesperson said in reply to an enquiry by Reuters.
  • Andreas Mundt, president of the cartel office, stated that price spikes were expected due to stricter fossil fuel curbs under environmental laws.
  • Some market participants questioned why coal and gas plants were not used more in November and December to stabilise the market.
  • The office has the authority to fine suppliers if they exploit their market position unfairly.