innogy on track for IPO success - report / Heating energy demand falls
Handelsblatt
Investor demand for innogy, RWE鈥檚 renewable spin-off, exceeds the number of shares on offer in the stock market debut scheduled for next week, reports Handelsblatt. 鈥淭he initial public offering of RWE subsidiary innogy seems to turn into a success story for CEO Peter Terium,鈥� write J眉rgen Flauger and Robert Landgraf. They argue the innogy debut suggests that RWE鈥檚 strategy to spin-off renewables might be superior to rival E.ON鈥檚, which split its fossil activities into subsidiary Uniper, but was forced to keep nuclear power plants. E.ON鈥檚 market capitalisation has always exceeded RWE鈥檚, but it now seems certain that the combined value of RWE and innogy will clearly top the combined market capitalisation of E.ON and Uniper. Innogy鈥檚 market debut is scheduled for 7 October.
For background, read the 威力彩玩法 factsheets E.ON shareholders ratify energy giant's split and RWE鈥檚 plans for new renewable subsidiary.
S眉ddeutsche Zeitung / German Institute for Economic Research (DIW)
The energy demand to heat German apartment buildings fell six percent last year because of energy-efficient insulation and modernisation, according to a study by the German Institute for Economic Research (DIW) cited in S眉ddeutsche Zeitung. The study is based on an analysis of thousands of heating bills, and is already adjusted for weather effects such as a mild winter, reports Benedikt M眉ller. Since 2003, energy demand for heating fell by 18 percent, according to DIW. But the think tank warns the rate of modernisation has slowed, endangering Germany鈥檚 climate targets for the building sector. This is partly because large real estate companies have already modernised their buildings, and smaller landlords are slow to follow suit, according to DIW.
Find the DIW study in German .听
Federal Ministry for Economic Affairs and Energy
Germany鈥檚 grid expansion is only slowly progressing, according to a report by the federal economy ministry. About half of the 22 most crucial high voltage grid projects 鈥� determined by the German Power Grid Expansion Act 鈥� are approved, but only 650 of the total of about 1,800 kilometres have already been realised. The government expects the last projects to be completed by 2025.
Find the press release in German and the full report in German .
Find a 威力彩玩法 dossier on Germany鈥檚 power grid here.
TenneT / TransnetBW
Grid operators TenneT and TransnetBW published a variety of updated route suggestions to lay direct current power lines from Germany鈥檚 windy north to the industrial south, after protests against overhead lines had forced the companies to revise original designs. 鈥淲e plan purely as an underground connection. That is the wish of citizens and the government has paved the way accordingly,鈥� said Lex Hartmann, member of the board of management at TenneT. Before the official application process, the plans will be discussed with the public until mid-November to 鈥渙ptimise the planning鈥�, say the companies in a press release. According to the release, the plan to have SuedLink finished in 2025 is 鈥渁n ambitious schedule鈥�.
Find the press release and other material in German .
Frankfurter Allgemeine Zeitung
The populism by the Christian Social Union in Bavaria has delayed the grid expansion by years and increased costs by billions of euros, writes Andreas Mihm in an opinion piece for Frankfurter Allgemeine Zeitung. He says that the Bavarian government had withdrawn its own grid expansion resolution because it feared the voters. 鈥淭hat鈥檚 why constructing the new lines will be three to four times as costly,鈥� writes Mihm.
Frankfurter Rundschau
Raising grid fees substantially - and the resulting rise in cost for electricity in Germany announced for the turn of the year 鈥� is not fully justified, Claudia Kemfert of the German Institute of Economic Research (DIW Berlin), told Frankfurter Rundschau. 鈥淎n oversized grid expansion and state-guaranteed excessive grid fees lead to disproportionate power price increases鈥� and the Energiewende would be the scapegoat, according to Kemfert.
Green Budget Germany
The NGO Green Budget Germany (贵脰厂) claims recent studies commissioned by the German steel industry on the impact of the planned reform of the EU Emissions Trading System (ETS) were based on unrealistic assumptions which portrayed misleading 鈥渉orror scenarios鈥�, according to a press release. The alleged high cost burden on the steel sector arose from the assumption of unrestraint growth without serious climate protection efforts, which was unrealistic. 鈥淔or example, the calculations are based on a high CO鈧�-price of 40 euros 鈥� that is unrealistic considering current prices of about 4 euros and a large surplus,鈥� said Swantje Fiedler, head of energy policy at 贵脰厂.
Find the analysis in German .
Read the 威力彩玩法 article German steelworkers fight EU plans for emissions trading.
Federal Statistics Office (Destatis)
Sales of energy efficiency products rose 10 percent to 65.4 billion euros in 2014, according to the Federal Statistics Office (Destatis). 鈥淭he turnover generated from products for increasing energy efficiency and for saving energy is much higher than that obtained from products of the traditional environmental areas of waste management (3.8 billion euros) and waste water management (7.1 billion euros) together,鈥� according to a press release.
Find the press release in English .
