Correggio Digest Archive
WHAT AWAITS IN THE NEXT SIX MONTHS UNDER THE GERMAN PRESIDENCY OF THE COUNCIL?
Dear Correggio Digest Reader,
During these “Coronavirus times,” many regulatory and commercial projects have been delayed. Other initiatives, however, continue to move forward. For many, green hydrogen is the magic word.
We have seen some important decisions being taken during the month of June, the most important of which is perhaps the decision of the German Parliament to finally exit coal generation. This government-sponsored exit includes sizable compensation for the historic utilities over a number of years and brings Germany back on track to reaching its carbon neutrality objectives. In parallel, and thanks to some good weather, the RES surcharge has rallied for an all-time record level.
On 1 July, Germany took over the rotating Presidency of the European Council, and in its initial statements in Brussels the Government was quick to underlined that delivering a European hydrogen strategy will be one of its key objectives. The European hydrogen strategy in many ways looks like a copy/paste of the German hydrogen strategy. As the German Government and the EU explain, Contracts for Difference (CfDs) are of special interest as central tool to bring about the hydrogen revolution.
These initial comments, together with the initiated wider EU governance reform, promise to make the next six months very interesting.
Editor of Correggio DIGEST