A dangerous precedent
European power market participants are up in arms over a draft law in Germany which, if passed, could devastate liquidity both in Germany and beyond by allowing the German Cartel Office to force some suppliers to price their power on a cost basis. Oliver Holtaway reports
There are many signs that the EU's push towards a single internal European market for power is beginning to bear fruit: while we are yet to see a single European power price, prices across Germany, France and the Nordic region often show degrees of correlation above 90%. But to the dismay of those working on a supranational level, local initiatives have threatened to dampen liquidity by regulating prices. The latest is a new proposal in Germany that threatens to move the country's power industry
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