The Power export in Germany reached 68,600 GWh in 2020
The indicator recorded a historical decline at a CAGR of 5.11% between 2017 to 2020
Why did Germany’s power export decrease in 2020?
During 2000–2020, barring 2000 and 2002, Germany has been a net exporter of electricity. In 2010, the country imported more electricity than it imported. In 2020 as well, electricity exports were higher than imports.
The country’s imports are expected to rise in the future owing to the closure of coal and nuclear power stations in the country. By 2022, the government is planning to shut down all nuclear power plants. Further, the government is also planning to shut down all its coal-fired power plants latest by 2038 to meet climate protection obligations and decarbonize its energy systems. The government has already initiated this process by shutting down around eight coal power plants in 2020. This is expected to increase the country’s dependence on imported electricity from neighboring countries if the power generation gap created due to the closure of nuclear and coal power plants is not filled by renewable energy sources.
Electricity Trading
Germany is one of the largest exporters of electricity due to its lowest market price. Electricity trading in the country takes place through Over the Counter (OTC) and exchange-based trading. The OTC market is divided into the OTC physical forward, OTC spot, and the OTC financial forward market. Exchange-based trading is carried out through the European Energy Exchange (EEX). The EEX is an electronic exchange which was founded in 2002 because of a merger between the Leipzig Power Exchange (LPE) and the former European Energy Exchange, previously based in Frankfurt. The German power exchange-based market is divided into the exchange spot and exchange financial futures market. Due to Germany’s status as Europe’s largest economy and as Europe’s largest electricity market, both in production and consumption, the EEX is the largest energy exchange in Europe.
Supply Security
Germany is a net exporter of electricity since 2003. Although Germany has many electricity sources, most of its electricity has been traditionally derived from fossil fuels, especially coal. The country possesses substantial coal reserves. In 2019, it had a mid-single digit share of the world’s proven coal reserves (BP Statistical Review, 2020).
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