Germany is facing an electricity price shock - what answers does the energy sector have?

200 billion euros - money that was supposed to be used to relieve citizens and companies from the drastic increase in electricity and gas costs - is missing after the Federal Constitutional Court overturned the climate fund of the traffic light. The green conversion of industry is at risk of being delayed, even though Germany has set itself ambitious targets for reducing greenhouse gas emissions, including extensive decarbonization by 2050. In addition, the demand for electricity will double by then due to growing electrification - in some scenarios it will even triple.

Security of supply is at risk. The industry is faced with the task of driving forward the expansion of renewable energy and finding reliable solutions to stabilize the electricity grid in order to maintain security of supply - without nuclear energy or coal-fired power and without financial support from the state.

"45% of all emissions savings in 2050 will come from technologies that are not yet on the market."

More energy must flow into the German electricity market quickly and cost-effectively, preferably sustainably.

• • What can companies in the energy industry contribute to this?
  • How can green electricity be produced quickly to reduce electricity prices for German industry?
  • How is German industry reacting to this shock?
  • Will the transformation of the German energy system succeed?
•  

In order to discuss these and other questions, the March 5 & 6, 2024 the 31st Munich Management Colloquium will take place. This year's theme is: "Strong together - resilience through networking and collaboration" over 80 renowned managers will present their solution concepts, including well-known representatives from the energy sector.

The challenges facing the German energy industry are therefore complex and require a comprehensive strategy in order to successfully implement the energy transition while ensuring the competitiveness of German industry. Agility, efficiency and collaboration will be the key to driving innovation forward. Now more than ever, the pioneering spirit and inventiveness of the energy sector is required.

Siemens Energy

Siemens Energy is a global player in the field of power generation and distribution. They cover almost the entire energy value chain - from power generation to transmission and storage. Their innovation strategy aims to
to create an ecosystem in which partners and start-ups are involved in order to exploit synergies the technology with the greatest potential
to promote. The focus is on three key areas:

1) Low-emission and emission-free electricity generation,
2) efficient electricity transmission and storage and
3) the reduction of CO2 emissions from industrial processes.

Based on the needs of industry, research is being conducted in the five fields of action Power-to-X, energy storage, decarbonized heat and industrial processes, condition-based maintenance and resilient grids and reliability. The aim is to support electrification and decarbonization with a wide range of products, services and solutions. Sustainable development can only be meaningful and successful in cooperation with a large number of stakeholders.

Siemens Gamesa

Siemens Gamesa is a global market leader in the wind energy industry. The company develops and produces wind turbines and solutions for wind power generation. Siemens Gamesa is driving the global green energy revolution and has set itself ambitious targets for 2040. Firstly, the company is aiming to become climate-positive. This means removing more CO2 from the atmosphere than it emits by that date.
This will be achieved through a combination of measures, e.g. hydrogen-powered reach stackers. Secondly, the first fully recyclable turbine is to be launched on the market.

The first recyclable wind turbine blade was presented in 2021, and a tower made from more sustainable steel will appear in 2024. The life cycle of this technology does not end when the blades stop turning. The energy transition can be driven forward with innovative and efficient technologies.

Marvel Fusion

Marvel Fusion is an innovative company specializing in the development of fusion energy technologies. Their vision is to create a virtually unlimited, safe and environmentally friendly source of energy. The industrial, power generation and heating sectors consume a lot of energy, which is associated with high CO2 emissions. In addition, the path to lower emissions leads to more electricity consumption, as millions of combustion processes have to be shut down and replaced by electricity.

Today, nuclear fusion is far more promising than we think. According to Heike Freund, COO of Marvel Fusion, the nuclear fusion power plant could generate as much energy in the space of a soccer field as 1,500 wind turbines in a year. Nuclear fusion is an energy source without radioactive fission products, without nuclear waste, without final storage, without Castor transports, without carbon dioxide emissions, without greenhouse gases, without North Sea pipelines, without transverse tankers in the Suez Canal, without fracking and, above all, without the purchase of raw materials from despots, tycoons and dictators. Together with strong partners such as Siemens Energy, we are continuing to work on the economic use of nuclear fusion.  

E.ON SE

E.ON SE is a leading energy supplier in Germany that focuses on renewable energies, grid expansion and energy efficiency. The Group has transferred its previous core business, the operation of large power plants and wholesale, to the new company Uniper. Since then, it has concentrated entirely on energy grids and energy sales to end customers. E.ON supplies around 50 million customers via 1.5 million kilometers of electricity and gas pipelines, but is no longer active in generation itself. To this end, billions are being invested in the accelerated expansion and digitalization of the energy infrastructure, in customer solutions for decarbonization and in the expansion of the charging infrastructure for e-mobility.

One of the core topics is the digitalization and standardization of networks, products, customer interfaces and internal processes.
E.ON is using the achievements of the digital revolution to transform the energy system and at the same time is tapping into additional opportunities,
new digital business opportunities. The aim is to create an "all digital" energy company. With the establishment of the subsidiary E.ON One
an important digitization milestone has been reached.

ENERCON

ENERCON develops, manufactures, installs and maintains onshore wind turbines. The wind turbines are known for their innovative, reliable technology, low maintenance requirements and long service life. A direct-drive synchronous generator and the full converter concept enable the wind turbines to be adapted to grid conditions all over the world. To be a leading company in the renewable energy sector, Enercon relies on continuous research and development, high-quality manufacturing and excellent customer-oriented sales and service.

Together with research institutions in Germany, a model for predicting emissions was developed for the planning of wind farms and the requirements in critical grid situations were analyzed from a business perspective.

Research and development is an important part of the DNA. ENERCON cannot solve the energy problems of tomorrow without the identification and involvement of stakeholders and the cooperation of important partners.

Secure your ticket today to be part of the Munich Management Colloquium in March 2024, where managers will discuss and present best practices to ensure the long-term competitiveness of Germany as an industrial location. Participation is free of charge for journalists.