POWER: Germany Opens Consultation on New Grid Scenario Plan
Dec-11 16:19
Germany’s transmission system operators have launched a public consultation on the first draft of the 2037/2045 Network Development Plan, which uses a wider scenario funnel to guide future grid expansion, Amprion said.
- The first draft includes Scenario Paths A and B for 2037 and 2045, with Scenario C and a 2032 trend scenario to follow in the second draft.
- Scenario A assumes moderate electricity demand and slower renewables growth, while Scenario B reflects energy and climate policy targets, with large-scale battery storage gaining importance in all scenarios.
- Additionally, some grid expansion measures are shifted to 2045 from 2037, enabling a more even distribution of projects.
- The draft also introduces offshore optimisations that prioritise actual energy yield over installed capacity, including reconfigured expansion areas and improved use of grid connections.
- These measures could remove four to seven offshore grid connection systems, lower costs and boost efficiency, Amprion noted.
- Furthermore, rising market prices for technical components have pushed project costs higher, and the NEP 2025 now aims to balance investment needs with congestion management while ensuring grid security.
- Total NEP investments up to 2045 range between €360–390bn, with optimisations in Scenario A saving around €80bn
- The consultation runs until 14 January 2026, with participation possible online or by email, with comments used to inform the second draft, which will be submitted to the Federal Network Agency (BNetzA).
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OPTIONS: Larger FX Option Pipeline
Nov-11 16:10
- EUR/USD: Nov13 $1.1575(E1.1bln), $1.1590(E1.5bln); Nov14 $1.1625(E1.4bln)
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OPTIONS: Expiries for Nov12 NY cut 1000ET (Source DTCC)
Nov-11 16:08
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- USD/JPY: Y154.00($500mln)
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- NZD/USD: $0.5600(N$538mln)
G7: Trade/Tariffs Provides Subtext For Two-Day G7 Foreign Ministerial In Canada
Nov-11 16:00
Trade and tariffs are likely to provide the subtext of a two-day G7 foreign ministerial meeting that gets underway in southern Ontario, Canada, today. Along with G7 regulars, the foreign ministers of Australia, Brazil, India, Saudi Arabia, Mexico, South Korea, South Africa, and Ukraine will be in attendance.
- US Secretary of State Marco Rubio’s attendance will be the most high-profile trip by a Trump administration official to Canada since Trump terminated trade talks with Ottawa last month, claiming an advert funded by the provincial government of Ontario was aimed at influencing the outcome of a US Supreme Court case on Trump’s tariffs.
- Canadian Foreign Minister Anand said this week, “The work that Canada is doing is continuing to lead multilaterally in an era of a greater movement to protectionism and unilateralism. And in an era of economic and geopolitical volatility.”
- Anand is likely to use the meeting to improve the working relationship with Rubio. One potential route to renewing trade negotiations could be providing Washington with greater access to Canadian minerals, including rare earths. Recently, US President Donald Trump struck mineral agreements with Australia, Malaysia, Kazakhstan, and Uzbekistan; and pledged to expand rare earth processing operations with Japan and South Korea – moves aimed at addressing China's dominance of the global rare earth supply chain.
- “The expectations are quite low, but avoiding drama and fostering basic common ground on issues like Ukraine and Russia would be helpful” for Canada, an expert told WaPo.
- Ottawa may be bolstered by bullish comments from Trump in the Oval Office yesterday, suggesting that trade deals with India and Switzerland are close, two countries among the hardest hit by Trump’s tariffs.
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