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POWER: Weekly News Highlights MNI Power Service Part 1/2 Week 51

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See below the weekly news highlights of the MNI power Service for the week 16-20 December. 

  • POWER – Renewables accounted for 55% of Germany’s power demand in 2024, up from 53% in 2023 due to increased output from offshore wind and solar PV, calculations from BDEW and ZSW showed.
  • German energy consumption is likely to fall to a new record low in 2024 to 10,478PJ, AGEB data showed.
  • Germany’s Bnetza has lowered the maximum subsidy price for solar PV auctions next year, it said.
  • Germany plans to propose a law that enables grid operators to switch off solar PV plants above 7KW of capacity in case of bottlenecks according to a draft law dated 17 December.
  • German onshore wind additions rose to 475MW in November, up from 254MW in October and the highest for any month so far this year, Bnetza data showed.
  • Germany's top civil court appears poised to back the Federal Network Agency’s 2021 decision on grid investment returns, likely to not support energy network operators seeking higher returns, according Presiding Judge Wolfgang Kirchhoff, cited by Bloomberg.
  • EdF’s new 1.6GW Flamanville 3 reactor is expected to be connected to the grid on 20 December. Ramp up will start with 10MW, remit data showed.
  • The UK’s National Grid is planning to invest up to £35bn in its power transmission business between April 2026 and March 2031, it said.
  • EEX is planning to introduce “Mon-Sun Peak Power Futures” for the Spanish power market and short-term futures for the Greek power market to better represent renewable generation.
  • European solar growth has significantly slowed down this year, growing by only 4.4% compared with 40% year-over-year growth seen in the previous years, according to a report by Solar Power Europe.
  • The EU PPA market recorded 18 deals in November 2024, a 26% decrease month-on-month compared to October's 29 deals. Year-to-date figures remain subdued, with 13.7GW recorded, widening the gap against 16GW during the same period in 2023, according to Pexapark.
  • Italian hydropower reserves last week – calendar week 50 – decreased by 0.06TWh to 3.01TWh, falling below the five-year average for the first time in 12 weeks.
  • Renewable energy will account for 56% of the Spanish electricity generation mix in 2024, 6 percentage points higher on the year, preliminary data from Red Electrica showed.
  • Investment in Norway’s power sector is expected to grow significantly between 2024 and 2027 after falling to the lowest in over 20 years in 2023, Norges Bank said in its Monetary Policy Report.
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See below the weekly news highlights of the MNI power Service for the week 16-20 December. 

  • POWER – Renewables accounted for 55% of Germany’s power demand in 2024, up from 53% in 2023 due to increased output from offshore wind and solar PV, calculations from BDEW and ZSW showed.
  • German energy consumption is likely to fall to a new record low in 2024 to 10,478PJ, AGEB data showed.
  • Germany’s Bnetza has lowered the maximum subsidy price for solar PV auctions next year, it said.
  • Germany plans to propose a law that enables grid operators to switch off solar PV plants above 7KW of capacity in case of bottlenecks according to a draft law dated 17 December.
  • German onshore wind additions rose to 475MW in November, up from 254MW in October and the highest for any month so far this year, Bnetza data showed.
  • Germany's top civil court appears poised to back the Federal Network Agency’s 2021 decision on grid investment returns, likely to not support energy network operators seeking higher returns, according Presiding Judge Wolfgang Kirchhoff, cited by Bloomberg.
  • EdF’s new 1.6GW Flamanville 3 reactor is expected to be connected to the grid on 20 December. Ramp up will start with 10MW, remit data showed.
  • The UK’s National Grid is planning to invest up to £35bn in its power transmission business between April 2026 and March 2031, it said.
  • EEX is planning to introduce “Mon-Sun Peak Power Futures” for the Spanish power market and short-term futures for the Greek power market to better represent renewable generation.
  • European solar growth has significantly slowed down this year, growing by only 4.4% compared with 40% year-over-year growth seen in the previous years, according to a report by Solar Power Europe.
  • The EU PPA market recorded 18 deals in November 2024, a 26% decrease month-on-month compared to October's 29 deals. Year-to-date figures remain subdued, with 13.7GW recorded, widening the gap against 16GW during the same period in 2023, according to Pexapark.
  • Italian hydropower reserves last week – calendar week 50 – decreased by 0.06TWh to 3.01TWh, falling below the five-year average for the first time in 12 weeks.
  • Renewable energy will account for 56% of the Spanish electricity generation mix in 2024, 6 percentage points higher on the year, preliminary data from Red Electrica showed.
  • Investment in Norway’s power sector is expected to grow significantly between 2024 and 2027 after falling to the lowest in over 20 years in 2023, Norges Bank said in its Monetary Policy Report.