Slowly but surely Germany’s push to incorporate more renewable energy into its overall energy generation will reap some rewards. The European country’s power prices in 2013 are expected to decline compared to the projected power prices for next year.
Broker prices on Bloomberg reveal that electricity for 2013 could decrease €0.45 per MWh compared to 2012’s contract. Germany plans to build 7,000 MW of solar and wind energy projects in 2013, 32% more than projects planned for 2012. The country will build 9,600 MW of power generation capacity in 2013 and retire 3,200 MW of thermal plants using coal and natural gas, according to Societe Generale’s head of energy research Emmanuel Fages.
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