NEW ENERGY DRIVING DOWN POWER PRICES IN EUROPE
Germany Continues Exporting Electricity--Renewables Driving Down Power Prices--despite Closing Reactors
Paul Gipe, September 27, 2011 (Wind-Works)
"Recent data shows Germany continues to export electricity despite closing seven nuclear reactors…[and] renewable energy expansion in Germany is driving down power prices.
"Germany… exported more electricity than it imported during the first half of 2011…[disproving] rumors circulating in North America that Germany is closing its nuclear power plants by relying on imports of electricity…"
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"…[T]he margin of exports over imports has decreased from 2010…The surplus for export represents about 1% of consumption…Germany is expected to add 7,000 MW of wind and solar generating capacity in 2013, exceeding the installations projected for 2012. This massive expansion of renewable energy generating capacity is affecting the futures market for fossil-fuel fired generation.
"…The installed solar base in Germany is growing rapidly thanks to continued feed-in tariff support…[affecting] power spot prices…because renewable energy has priority grid access and near-zero marginal cost…"