BERLIN/FRANKFURT, Feb 1 (Reuters) – The fall in energy prices on world markets was not expected, Economics Minister Robert Habeck said on Wednesday, adding he saw a chance Germany would not see last year’s price spikes if there is no winter with a well-stocked gas storage tank.
“Nobody can really swear or predict whether there will be a lasting change for the better. But there is a chance,” Habeck told journalists after a regular cabinet meeting.
Habeck said Germany’s energy supply would be secured in the coming years even if the country phased out coal-fired power plants in the east before the planned phase-out in 2038.
“I consciously formulate it in the subjunctive, because there is still no agreement on this,” added Habeck.
Supply in 2025-2031 will be secure given the expansion of renewable capacity and transport networks as we move away from fossil fuel generation, a government statement said.
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A report that takes into account an increase in the power consumption of electric cars and heat pumps was presented by the Federal Network Agency and approved by the cabinet on Wednesday.
It considered possible extreme weather events and technical failures, as well as the need to use storage options and power demand management to cope with the disruption to renewable energy.
The government is due to enact a power plant strategy in the first half of 2023 and wants new gas-to-power plants to be ready to burn clean hydrogen instead of natural gas.
It also aims to produce, import and market green hydrogen, obtained by electrolysis from wind and solar energy, but also from biomass and biomethane, as the energy source of the future.
The cabinet has decided on measures to accelerate the expansion of wind and solar energy as well as offshore wind power.
In total, Germany should have over 360 megawatts (MW) of green electricity capacity by 2030.
Reporting by Riham Alcousaa and Vera Eckert, editing by Rachel More and Philippa Fletcher
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