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Report: Banks criticize energy policy in letter to Minister Reiche
According to a media report, several banking institutions have criticized the federal government’s planned energy laws. A letter addressed to Federal Economics Minister Katherina Reiche (CDU) and Federal Network Agency head Klaus Müller states that the success of the energy transition depends—in addition to solid planning—”crucially on the broad availability of financing,” according to the…
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Coal demand hits record: LNG supply disruptions drive coal back into the power system
The International Energy Agency has significantly raised its forecast for global coal demand. Instead of a decline, it now expects a 1.2 percent increase to 8.94 billion tonnes by 2026. This shift is primarily driven by a slump in LNG shipments through the Strait of Hormuz and sharply higher gas prices. Consequently, several countries are…
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Heligoland without mainland power since Wednesday – diesel generators taking over supply
Since 2:00 p.m. on Wednesday, September 16, Heligoland has been disconnected from its regular power link to the mainland. The submarine cable was shut down to connect a newly laid section near St. Peter-Ording. Consequently, diesel generators have been supplying the North Sea island with all its electricity since Wednesday afternoon. An additional disruption is…
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Märkerwald wind farm halted: Falling EEG feed-in premiums make eight turbines unprofitable
The Märkerwald wind farm project in Dierdorf (Westerwald) has proven economically unviable as of September 2026. ABO Energy has withdrawn its permit application for eight turbines and is halting the project’s development. A decisive factor is the sharp drop in awarded prices in the EEG tenders for onshore wind energy. Consequently, up to 54.4 megawatts…
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Federal government unable to estimate availability and prices of green gases
The federal government is unable to estimate the future availability and price trends of alternative heating fuels. “Assumptions regarding future developments in demand, availability, and prices for bio-based fuels are subject to significant uncertainty,” the government stated in a response to a parliamentary inquiry by the Green Party, a document seen by AFP on Monday.…
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hGears insolvent: E-bike slump and high costs affect 181 employees
Schramberg – hGears manufactures high-precision gears and transmission components for e-bikes, electrified vehicles, and power tools. On September 7, the company’s German subsidiary filed for insolvency proceedings under self-administration with the Rottweil District Court. The move was prompted by illiquidity resulting from low production volumes and an excessive cost base. The plant is being particularly…
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NATO halts Russian exercise involving undersea cable sabotage – special submarines near Svalbard
On September 10, new details emerged regarding a Russian underwater operation near Svalbard. British, Norwegian, and US forces had been tracking the activity since the spring of 2026. Russian GUGI special-mission submarines were simulating the sabotage of undersea cables using a technique that had not previously been publicly described. However, NATO forces intercepted the units…
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Leuna Polyamid closing: 400 jobs lost – authorities order controlled plant shutdown
Leuna – The insolvent Leuna Polyamid GmbH is ceasing production at the end of September and closing the plant in October. The search for investors yielded no binding offers, as high energy and raw material costs, demands for advance payments, and price pressure from China strained the company’s finances. Around 400 employees will lose their…
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Oil price rises to around 107 dollars per barrel of Brent crude
Amid escalating tensions in the Gulf region, oil prices have once again risen sharply. On Monday morning, the price of a barrel of North Sea Brent crude climbed 2.8 percent to $107.54, while the price of US WTI crude rose 2.3 percent to $102.34. The worsening situation fueled concerns early in the week about potential…
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Major bank HSBC to close securities settlement operations in Germany – around 320 jobs to be cut
Düsseldorf, September 9, 2026. As part of major bank HSBC’s workforce reduction, around 320 jobs in German securities processing will be eliminated by 2028. Approximately 300 of these positions are at HSBC Transaction Services, with another 20 at a service subsidiary. HSBC plans to phase out the business and implement the job cuts in a…
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Replacement supplies for Russian gas not secured – EU risks security of supply
Brussels – The EU aims to completely phase out Russian gas by 2027 at the latest, yet the necessary replacement supplies have not yet been reliably secured. Europe’s gas storage facilities are currently only about 67 percent full; at the same time last year, the figure was nearly 80 percent. Furthermore, the EU will need…
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Power outage in Pfullendorf: Marten cripples entire town following short circuit at substation
A marten caused a widespread power outage in Pfullendorf on the evening of Monday, September 7, 2026. Shortly before 10 p.m., the animal climbed onto electrical equipment at the Hesselbühl substation. According to the municipal utility company, it bridged two phases, triggering a short circuit. A loud bang and an electric arc accompanied the fault.…
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Ifo study accuses government of misusing defense debt funds
The Munich-based Ifo Institute has accused the German government of misallocating funds intended for defense spending under an exception to the debt brake. More than a third (38.5 percent) of the additional debt incurred last year did not go toward additional defense spending, the institute stated on Thursday. The Federal Ministry of Finance rejected the…
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Rotor blade damage at He Dreiht delays Germany’s largest offshore wind farm
Off the coast of Borkum, damage to a rotor blade is delaying the full launch of “He Dreiht”—Germany’s largest offshore wind farm—by several months. On July 22, a section of a rotor blade broke off a Vestas turbine and fell into the North Sea. Consequently, the manufacturer, Vestas, is investigating the cause and inspecting all…
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SPD wants to tax productivity gains from the use of AI
The SPD parliamentary group aims to draw more heavily on productivity gains resulting from the use of artificial intelligence to fund the social welfare state. The proposed AI tax thus targets precisely those additional revenues that companies are expected to generate through automation, digitalization, and more efficient production. The SPD justifies this move by citing…