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Germany Clears Power Generators of Market Abuse in 2024 Price Spike Probe

Regulators urge a faster build-out of controllable capacity to reduce future volatility.

Overview

  • The Bundeskartellamt and Bundesnetzagentur said the late-2024 surges were not caused by unlawful withholding or cartel behavior by EnBW, Leag, RWE, Uniper or Vattenfall, though certain matters remain under review.
  • Wholesale prices briefly topped €900 per megawatt-hour during November and December Dunkelflauten when wind and solar output slumped.
  • Officials reported secure supply throughout those periods as dispatchable plants ran broadly at availability and reserves covered gaps.
  • The agencies called for accelerated deployment of controllable generation, stronger demand-side flexibility and the use of upcoming capacity auctions to reduce market concentration.
  • The government’s plan to add new gas-fired plants still awaits European Commission approval, with Der Spiegel reporting Brussels may authorize fewer projects than sought.