Germany shut down its last nuclear power plants in 2023.

Chancellor Gerhard Schröder decided to phase out nuclear power in 2002, a process later accelerated by the 2011 Fukushima accident.

The shutdown of nuclear power plants has increased fossil fuel consumption to 46.3% of its electricity generation.

The Russian-Ukrainian war has caused a significant increase in electricity prices due to the loss of nuclear energy.

Germany remains committed to its clean energy transition, with renewables providing 46% of its electricity in 2021.

Germany aims to be climate neutral by 2045 and abandon coal by 2030.

The shutdown of nuclear power plants has sparked a debate about the country's energy security.

Russia has cut off natural gas supplies to Germany due to the war with Ukraine.

The war has led to a significant reduction in Russian natural gas supplies, causing a shortage in Germany.

Natural gas prices are six times higher than last year, causing an energy crisis in Germany.

Germany has resumed using coal for power generation amid rising global demand.

Germany has curbed energy use after Russia cut gas flows by 60%.

Germany relies on Russia for a third of its gas and may run out by January.

Germany plans to rely more on coal and increase gas stockpiles to address the crisis.

Germany is seeking to import natural gas from the US and Qatar to reduce its dependence on Russia.

Germany has launched construction of two North Sea LNG terminals to diversify its energy supply.

There is no clear indication in the current data that nuclear reactors will be brought back online in Germany.

The war in Ukraine has prompted Germany to reduce its gas use for electricity.

A complete Russia shutdown could affect up to 1.5% of EU GDP, significantly impacting Germany's economy.

Germany shut down its last nuclear power plants in 2023.

Title:

Content: In early 2023, Germany shut down its last nuclear power plants, so this winter will be Germany ’ s first “nuclear-free winter ”. Despite the German government ’ s vow to modernize its energy system and develop renewable energy, Germany ’ s fossil fuel consumption is higher and its power system is dirtier.
Commenting on Germany ’ s electricity problem, Reuters columnist Gavin Maguire wrote that the country ’ s electricity problem began with a gradual decline in the share of nuclear power in Germany ’ s power generation structure. In 2014, the contribution of nuclear power to Germany ’ s total electricity supply fell by only 6% in 2022, and finally dropped to zero after the last eight reactor outages in 2023.
According to the think tank Ember, Germany's last eight nuclear reactors generated about 8.1 gigawatts (8,000 megawatts) of electricity, a gap that was filled by solar and wind capacity.
It seems to be okay.
However, as solar power (Germany ’ s second largest clean power after wind) suffers from reduced sunlight this year, power generation will fall sharply this winter, and the total amount of clean electricity in Germany will also decline, but winter has always been Europe ’ s peak electricity consumption (heating demand), so German power producers are forced to increase the amount of electricity generated from fossil fuels such as coal and natural gas. of emissions.
According to the data, in the first nine months of 2023, Germany ’ s total electricity generation fell compared to last year, including clean electricity and fossil energy power; clean electricity fell by 5.6% compared to the same period in 2022, and fossil fuel power generation fell by 21%.
In other words, this year has been the most electricity efficient year in Germany since 2017.
But don ’ t think that ’ s a good thing, because Germany ’ s industrial electricity demand has fallen this year, and the economy has certainly followed suit.
Why is that so?
Data from the London Stock Exchange shows that the high price of electricity in Germany is a key factor. Compared to 2019, the price of electricity in Germany is 160% higher this year, although it is much better than the highest price last year (electricity prices soared last year due to the Russian-Ukrainian war, this year has fallen), but the German industry is still unwilling to pay.
According to data from the London Stock Exchange (LSEG), German chemical and fertilizer production (previously produced using abundant and cheap natural gas) has fallen to its lowest level in more than a decade in 2023 as producers cut production.
Production of cars, steel, batteries and turbines has also been cut, causing Germany, Europe ’ s largest economy, to experience a rare export slump this year.
In order to support the German industrial recovery, the German government asked the power companies to suppress the cost of electricity, and actively increase the production of cheap renewable energy, did get some results, but after entering the autumn, the sunshine time reduced, Germany September to December's total solar power, must be more than 80% lower than the peak.
Since solar power has accounted for more than 20% of Germany ’ s total electricity generation each month in the past five months, such a serious decline in clean power production will inevitably lead to a tight overall electricity supply; in order to make up for the shortage of solar power, Germany can only maximize the use of wind power, wind power production in Germany will increase in winter.
In order to supplement the intermittent problem of wind power and ensure that the total generation of electricity rises as demand grows, power companies have to increase the generation of coal and gas, which can be controlled by power plants to balance the needs of the national electricity market.
Speaking of which, it is clear that Germany will have to rely more on fossil fuels to generate electricity, and its carbon emissions will inevitably increase.
In order to determine its ideal of a non-nuclear homeland, Germany has caused more pollution, and the cost of electricity is still high, which has hit the German industry.
In August of this year, economists criticized "Germany's economic recession is already the sick man of Europe", which is all related to the abandonment of nuclear power.
German power mix may get dirtier for 1st non-nuclear winter
# Germany # Electricity # Dirty # Carbon # Solar

Chancellor Gerhard Schröder decided to phase out nuclear power in 2002, a process later accelerated by the 2011 Fukushima accident.

Title:

Content: 0
0
138
Germany shuts down three of its six remaining nuclear power plants
17: 00 31.12.2021 Source: Interfax
In Germany, on Friday, half of the six still operating nuclear power plants will shut down, according to the Associated Press.Then, according to the plan of the authorities, in another year it is planned to close the remaining three nuclear power plants and completely switch to other sources of energy.
The decision to phase out nuclear power was made in 2002 by Chancellor Gerhard Schröder.
Then his successor, Angela Merkel, first came out in favor of still extending the life of the German nuclear power plant.
However, after the disaster at the Fukushima nuclear power plant in 2011, Merkel changed her position and decided that in 2022 the country should complete the closure of all nuclear power plants.
The current government of Germany, headed by Olaf Scholz, left these plans in force.
Loading...
NEWS
16: 17 31.12.2021
On New Year's Eve in Moscow is expected heavy snowfall
0
166
15: 40 31.12.2021
The main goal is to improve well-being and quality of life - Putin
0
249
15: 30 31.12.2021
Russia and China may sign an agreement on the creation of a lunar base in 2022
0
276
15: 10 31.12.2021
The price of gas in Europe fell almost 3 times compared to the record last week
0
298
14: 05 31.12.2021
TOP-5 most mentioned in the Russian media persons of 2021 according to SCAN
0
332
12: 30 PM 31.12.2021
In Russia is preparing to register a new vaccine from COVID-19
0
403
11: 50 31.12.2021
In total, more than 308 thousand people died in Russia during the COVID-19 pandemic
0
411
11: 25 PM 31.12.2021
Died the elder brother of Patriarch Kirill Archpriest Nikolai Gundyaev
0
461
10: 23 AM 31.12.2021
Dmitry Muratov: I will never leave Russia. Nowhere.
I will not change citizenship.
0
616
10: 22 12 / 31 / 2021
Lavrov: The issue of official recognition of the Taliban authorities is premature
0
441
Return to list

The shutdown of nuclear power plants has increased fossil fuel consumption to 46.3% of its electricity generation.

Title:

Content: ● Talk from the beginning
In October 1973, the Organization of Petroleum Exporting Countries, led by Saudi Arabia, imposed a embargo on countries supporting Israel with oil as a weapon. The embargo lasted until March 1974, when the global price of oil rose by nearly 300%, from $3 per barrel to nearly $12.
Recognizing the importance of stable energy supply and price, many countries have begun to develop nuclear power.
In that era, the development of nuclear energy in Germany and France went hand in hand. Both countries imported nuclear power technology from the United States, and both established independent nuclear power industries.
In 1979, the Three Mile Island accident in the United States did not change the Social Democratic Party's support for nuclear energy in Germany at the time, and then the 1986 Chernobyl disaster in Russia caused a major impact on Germany's nuclear energy policy. In August 1986, the Social Democratic Party passed a bill to abandon nuclear power within 10 years, Germany terminated the development plan for new reactors, and power companies dared not plan to build a nuclear power plant. Merchants.
Overall, the passage of the Act did not affect the operation of the nuclear power plants in transit in Germany, with a capacity of 20,339 and 20,583,000 megawatts in 23 years from 1986 to 2009, and a further 22.9 million megawatts in 1989.
In other words, the ruling party in Germany recognized the importance of nuclear power to the country ’ s economic development and did not implement the nuclear abolition bill hastily passed in August 1986 under the anti-nuclear passion of the Chernobyl nuclear power plant disaster in Russia.
Obviously, the non-nuclear file, can only say, can not be done.
Non-nuclear weapons are a bargaining chip for political power
In October 1998, the Social Democratic Party and the Green Party organized a joint government and began to discuss a non-nuclear timetable with power companies. The Green Party, a small party with ideological leadership and national recognition of only 6.7%, changed the national energy policy through the power to gain the leadership of energy policies that are closely related to national security.
The assumption of power by political parties recognized by more people is the basic tenet of the operation of democratic politics.
When, in order to gain political power, different political parties used coalitions to lead to the opinions of the minority and hostage the understanding of the majority, is this the normal state of democratic politics?
Ridiculous, even more pathetic!
After numerous and varied threats, the coalition government and the power companies reached an agreement in late 2000.
The key point of the agreement is that the government will allow the units in operation at the time to continue operating until the cumulative generation of 2,623 billion kWh, equivalent to an average useful life of the units of 32 years (the power company originally expected 36 years), and that Germany will be non-nuclear by 2022.
The government is committed to ensuring the smooth operation of the nuclear power plant and the disposal of nuclear waste without political interference. In June 2001, the “Red Green ” coalition government signed an agreement with four power companies.
The agreement clearly stipulates that Germany will no longer build nuclear power plants and allow the temporary storage of used nuclear fuel at the site.
Based on the cap on nuclear power generation, a less cost-effective unit was stopped in 2003 and 2005, with a installed capacity of 640,000 MW and 340,000 MW, respectively, and it operated for 31 and 36 years.
In addition, a unit with a capacity of 1.22 million megawatts was built in 1986 on the banks of the Rhine. The unit was discontinued in 1988 due to anti-nuclear protests, and its power company abandoned the unit in 2003 to begin decommissioning work. Two units with a capacity of 771,000 megawatts and 1.26 million megawatts were suspended in 2007 and 2009, respectively, for 30 years and 25 years.
These two units are boiling water reactors, which are different from the mainstream pressurized water reactors in Germany.
Germany ’ s non-nuclear decision in 2000 was a pragmatic compromise that quelled the protests of anti-nuclear groups, kept the plant running smoothly, and provided the government with enough time to think about national energy policy.
An industrial leader reminded the government that reliable and affordable energy is an important part of Germany ’ s economic policy.
Opposition leaders in Congress said there was a chance they would change the decision.
The expectation of power companies is to increase the average operating year of all nuclear power units from 32 to 40 years, and then to 60 years depending on the situation of individual units.
● New opportunities brought about by the change
In September 2009, the new coalition government of the Christian Democrats and the Liberal Party announced plans to withdraw the "non-nuclear policy".
At this time, Germany still has 17 operational nuclear power units, but one is in a long-term state of decommissioning.
If all the units can be extended from the original agreed 32 years of operation to 60 years, it is estimated that the additional profit of the power company will be 100 billion euros, and the government must take a share, let alone 50 billion euros.
Financial negotiations took a year to complete.
The new nuclear policy allows for 40 years of operation (an additional 8 years) for units that were negotiated before 1980, and 14 years for units that were negotiated after 1980.
The government pays dividends on the extension of nuclear power plants to the national treasury under various taxes, donations and surcharges.
For example, the tax on nuclear fuel based on the weight of nuclear fuel used is increased to 2.3 billion euros per year, equivalent to 0.016 euros per kilowatt-hour.
In order to supplement the development of renewable energy, we will provide 300 million euros each in 2011 and 2012, 200 million euros each from 2013 to 2016, and 0.009 euros per nuclear power generation after 2016. The funds will also fund a recovery plan for a waste salt mine that is disposed of from nuclear waste.
Germany ’ s policy of abandoning nuclear energy has officially turned a corner.
• Planning does not change
On March 15, 2011, German Chancellor Angela Merkel announced that the new nuclear energy policy adopted only four months ago was suspended for three months. At the same time, seven units that had been negotiated before 1980 were immediately shut down. This represents a decrease of 8,336 MW, or 6.4% of the total installed capacity.
In May 2011, the German regulatory authority issued a statement saying that after various assessments, all German nuclear power units are in good condition and there are no concerns about their safety.
Despite this, the German government announced on May 30 that under pressure from anti-nuclear local governments, it will return to its original non-nuclear policy and close all nuclear power plants by 2022. At the end of June and July 8, the German House of Representatives and the Senate respectively passed decrees to expand wind power generation in response to the shutdown of nuclear power plants, while agreeing to build coal-fired power plants and gas plants without changing carbon reduction targets.
In order to solve the problem of insufficient baseload power after the nuclear power plant is stopped, electricity will be imported from France, Russia and Poland.
It ’ s all about non-nuclear policy.
Some nuclear power plants have been forced to shut down, but the nuclear power plants that continue to operate still have to pay various heavy taxes according to the 2011 revision of the Atomic Energy Law. Tax rebates of €6.3 billion between 2011 and 2016 and the suspension of tax on nuclear fuel.
The nuclear fuel tax was abolished at the end of 2016. In order to avoid the nuclear fuel tax, the fuel exchange time of five German units was postponed to January 2017, and a total of 8 billion kWh of power generation was lost from mid-December to the end of February 2016.
After 10 years of litigation, the government reached a settlement with four power companies for a total amount of 4.8 billion euros.
This amount of money is the most direct price of policy repetition.
In response to nuclear waste, in order to maintain a stable power supply, the huge investment in power generation and transmission systems is a heavier burden on society.
In May 2011, the German power grid department warned that the closure of nuclear power plants will lead to insufficient baseload power generation capacity, and renewable energy generation facilities are scattered, and renewable energy rich areas and power consumption areas are at a distance, requiring transmission networks.
The lack of power transmission capacity will make the grid fragile and unreliable, and the stability of the grid is facing great challenges. In May 2012, Germany announced a 10-year plan to expand and strengthen the grid, with a total of 26 transmission projects, with a total investment of 10 billion euros.
Germany calls the policy of increasing the proportion of renewable energy generation and phasing out nuclear energy as Energiewende (energytransition), an appropriate translation is also our slogan, "energy transition"!
For the public, the direct cost of the energy transition is that household electricity prices are the second highest in Europe and the highest in Denmark.
According to statistics, in December 2021, the price of domestic electricity in Germany was 80% higher than that of France.
Electricity prices in Germany
The electricity market in Germany is completely liberalized, and power companies sell electricity generated by various forms of electricity generation in the wholesale market. The price of electricity in the wholesale market is open information, which allows power companies to obtain electricity from the wholesale market and transmit it to consumers through the electricity network.
Taxes paid by different types of consumers are also different.
Due to various measures to reward renewable energy, distorting the market mechanism, the German wholesale electricity price is lower than other countries, and sometimes even negative, 298 hours of wholesale electricity price is negative in 2019 and 139 hours in 2021.
The average wholesale price of electricity in the German electricity market is 0.03767 euros / kWh in 2019, 0.03047 euros / kWh in 2020, and 0.09685 euros / kWh in 2021. The average price in the first half of the year is 0.054 euros / kWh, rising to 0.1380 euros / kWh in the second half of the year.
As shown in the attached figure, the Russian-Ukrainian war caused a surge in gas prices, which had a huge impact on electricity prices in Germany; in July 2022, the high price of 0.3153 euros per degree was 6.4 times that of January 2019!
The price of electricity for domestic or small commercial use in Germany is very high.
Look at the price structure of electricity for German households.
Germany ’ s household electricity price in 2006 was 0.1946 euros per kWh. It rose to 0.3216 euros per kWh in 2021, and has reached 0.3714 euros in 2022. In 2021, more than half of Germany ’ s household and small business electricity price burden came from additional taxes or fees due to energy policies. 16% is a sales tax, 20% of the renewable energy surcharge is paid to the renewable energy industry, 6% of the electricity tax (also known as the ecological tax), and there are three smaller surcharges.
If so, why not in the first place?
In 2010, Germany had 17 nuclear power units with a total installed capacity of more than 20 million megawatts, accounting for about 15% of the total installed capacity. In 2010, the total generation capacity was 133 billion kWh, accounting for about 25% of the total generation capacity. At the end of 2011, there were 9 nuclear power units with a total installed capacity of 12 million megawatts.
Compared to 1990, the total installed capacity was 1.3 times, but the power generation increased by only 11%.
Wind and photovoltaics account for nearly half of the installed capacity, but only 28% of the generation.
Nuclear power plant capacity accounted for only 4.1%, but power generation accounted for 12.4%. In 2021, three nuclear power units were shut down, and there are only three units in operation, with a total installed capacity of 4.055 million megawatts, accounting for less than 2%, and the total power generation may be about 6%. Can the economy afford to shut down the remaining three nuclear plants in 2022?
According to a news report on August 18, "Germany is facing an energy shortage crisis this winter and has planned to delay the closure of the country's last three nuclear power plants."
The decision has not yet been formally adopted by Prime Minister Bernard Shaw and may need to be passed by parliament. Details are still being discussed and a cabinet resolution will have to wait weeks for an energy demand assessment to come out, but officials believe the results are already known, according to three officials.
According to online data, Germany has eight decommissioned units that have not been in service for 40 years, and if the international consensus is that nuclear power units can be used for at least 60 years, the extension of these units can significantly reduce the dependence on imported natural gas.
It remains to be seen whether the shift in German nuclear policy will extend to these eight units.
● Other Mountain Stone
Looking at Taiwan ’ s electricity situation, the schedule summarizes Taiwan ’ s electricity data for 2019 and 2021, which can be compared with Germany ’ s data for 2019. Germany ’ s total installed capacity and total power generation in 2019 are 4.1 times and 2.2 times that of Taiwan, respectively.
The average capacity factor for electrical equipment in Germany is 30% and in Taiwan it is 56%.
Renewable energy cannot generate electricity all the time, and when the installed capacity is large, the average capacity factor will be low.
But there are other factors, in 2019, Germany ’ s natural gas installation capacity of 46 million megawatts, generating 90.8 billion kWh; Taiwan is 17.57 million megawatts and 91.2 billion kWh; the installed capacity is only 38% of Germany ’ s, but the power generation is equivalent.
Germany ’ s electricity grid is part of the European continent ’ s electricity grid, and data can be found on the network. In 2020, Germany exported 66.39 billion kWh of electricity and imported 48.05 billion kWh. About 20% of Germany ’ s domestic electricity production is exchanged with other countries.
If the exchange is not possible, it is necessary to abandon electricity when the amount of renewable energy generation exceeds the amount of electricity used or the capacity of the grid; when the renewable energy generation is insufficient, more dispatchable units are needed.
Renewable energy generation must be coupled with a power generation facility that can be scheduled, so that the power grid can be stable.
When the capacity of renewable energy installations is large, the capacity of the installations with the power generation facilities that can be adjusted will also increase.
The average capacity factor of German natural gas units is only 15%.
In other words, Germany ’ s natural gas unit is idle 85% of the time, isn ’ t that the cost of renewable energy?
When renewable energy must have a total installed capacity of 12.7 million megawatts (54.8%) of renewable energy (wind, light, water, and waste) with a capacity of 255.1 billion kWh (41.9%); the installed capacity is 16.3 times that of Taiwan ’ s 7.8 million megawatts in 2019, and the power generation capacity is 16.8 times that of Taiwan ’ s share is only 5.6%. Degrees.
From the number of renewable energy generation, Taiwan really can not be compared with Germany, but can we really develop to the realm of Germany?
Germany ’ s territory covers an area of 357,622 square kilometers, 9.9 times Taiwan ’ s 35,980 square kilometers.
Simply estimate the amount of renewable energy generated per square kilometer of land in Germany is only 1.7 times that of Taiwan.
In other words, if Taiwan ’ s renewable energy development can be as good as Germany ’ s, our renewable energy generation capacity can be doubled again! Is that enough? What does the rest rely on? Petrified fuels? Taiwan ’ s use of fossil fuels for power generation is 82.0% in 2019 and 83.3% in 2021. What should we do about the reduction of greenhouse gases? Energy can be developed, hydrogen is an energy carrier, not energy, that is, hydrogen production still depends on other sources of energy.
The Germans can ’ t take the risk, we don ’ t see it.
Germany's nuclear energy policy is all caused by natural gas, on the one hand, the source is cut off, on the other hand, the natural gas shortage caused by the soaring price of fossil fuels.
Fossil fuels account for 46.3% of Germany ’ s electricity generation, and the rise in wholesale electricity prices has been alarming. The German government has revised its nuclear energy policy once again in order to spread the risk of excessive reliance on natural gas.
In Taiwan, fossil fuel power generation accounted for 83.3% in 2021, can the impact on electricity prices be lighter than in Germany?
You can't see that Taiwan Power Company is expected to have a loss of 200 billion yuan this year, and CNOOC is also in the tens of billions!
The government is afraid to adjust the price of electricity and natural gas for fear of affecting the election.
A few days ago, the media reported that the government has compiled a budget to directly eliminate the deficit.
Do they still have the law in their eyes?
If the government respects the results of the 2018 referendum on nuclear and green energy, and four years ago it began to promote the renewal of the licenses of the four nuclear companies to transfer and operate China's power plants, Taiwan will pay a lot less in this wave of soaring fossil fuel prices.
A while ago, the military exercise across the strait, it can be seen that it is rehearsing to block Taiwan, if it is really blocked in the future, our natural gas stocks can stand for a few days! Our government seems to be old in the ground is not proper, still clinging to the god of the non-nuclear homeland, refusing to open their eyes to see the latest international energy trends.
After Germany abandoned its non-nuclear policy, the only countries in the world that have used nuclear energy, only Taiwan has a non-nuclear timetable, China, the United States, France, Japan, South Korea and India, etc., are building or planning new nuclear power plants.
The Taiwanese government should wake up.
Those who pretend to sleep cannot wake up, so let us spit on those who stand in line with those who pretend to sleep!
With the election looming, let ’ s ask the candidates whether they support nuclear power?
If not, ask him to tell you where Taiwan's energy policy should go, how Taiwan meets the requirements of international carbon reduction, what to do when Taiwan is short of power, and who pays when electricity prices surge? (The author is a Distinguished Professor of Engineering and Systems Science, National Tsing Hua University)
※ The above statements do not represent the position of Wangzhong Media Group ※
# Germany # Unit # Electricity # Euro # Nuclear

The Russian-Ukrainian war has caused a significant increase in electricity prices due to the loss of nuclear energy.

Germany remains committed to its clean energy transition, with renewables providing 46% of its electricity in 2021.

Title:

Content: Germany on Friday shut down three of the six nuclear power plants that were still in operation.
Three closed reactors were first put into operation in the mid-1980s, reports AP News.
Together, they provided electricity to millions of German families for nearly four decades.
One of the stations, Brockdorf, is located 40 kilometers northwest of Hamburg on the Elbe River.
It became the center of anti-nuclear protests sparked by the Chernobyl disaster of 1986.
The other two are Gronde, 40 kilometers south of Hanover, and Gundremmingen, 80 kilometers west of Munich.
The German government said this week that the decommissioning of all nuclear power plants next year and the subsequent abandonment of coal by 2030 will not affect the country ’ s energy security or its goal of making Europe ’ s largest economy “climate neutral ” by 2045.
According to the Fraunhofer Institute, renewable energy provided almost 46% of Germany ’ s electricity generation in 2021.
Coal accounted for more than 51% and nuclear energy for more than 13%.
The decision to phase out nuclear power and switch from fossil fuels to renewables was first made by Gerhard Schröder ’ s center-left government in 2002.
His successor, Angela Merkel, has set 2022 as the deadline for the plant ’ s closure.
Earlier, in December 2019, the Philipsburg nuclear power plant, one of the seven nuclear power plants operating at that time, was shut down in Germany.
You may also be interested in news:

Germany aims to be climate neutral by 2045 and abandon coal by 2030.

The shutdown of nuclear power plants has sparked a debate about the country's energy security.

Title:

Content: Log in
Or log in with
Google
Twitter
Facebook
Apple
Sign up
Or log in with
Google
Twitter
Facebook
Apple

TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.

(9501)
  Report
Delayed Japan Exchange  -  12:01:00 2023-04-17 am EDT
490.00 JPY   -1.41%
04/16Greenway Grid Global Pte. Ltd. & Tepco Power Grid, Inc. : the Sale of "Electric Power Asset NFT (Transmission Tower NFT Card, Utility Pole NFT Card)"
BU
04/16Germany's last nuclear reactors shut down - But the debate remains
DP
04/16Historic nuclear phase-out completed - but problems not yet solved
DP
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Greenway Grid Global Pte. Ltd. & TEPCO Power Grid, Inc.: the Sale of "Electric Power Asset NFT (Transmission Tower NFT Card, Utility Pole NFT Card)"

04/16/2023 | 10:31pm EDT

~ Venturing into the world of WEB 3.0 ~

Greenway Grid Global Pte. Ltd. (Headquarters: Singapore, President: Kazuhiko Shiba; hereinafter referred to as, "GGG") and Tokyo Electric Power Grid Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo, President/CEO: Yoshinori Kaneko; hereinafter referred as, "TEPCO PG") are pleased to announce the sale of "Electric Power Asset NFT" on their websites starting on Monday, April 3, 2023. The NFTs are pictures of TEPCO PG power assets, such as transmission towers and utility poles, that have been digitalized using NFT technology*1.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230413005884/en/

Utility pole NFT card (Numa 218) (Graphic: Business Wire)

The global NFT market is said to be worth trillions yen, and the domestic market is expected to grow from several tens of billions yen to hundreds of billions yen by 2030.

GGG sees this as an opportunity to embrace the expanding Web3.0*2 trend and produce and sell "Electric Power Asset NFT (Transmission Tower NFT Cards, Utility Pole NFT Cards)" that are based on TEPCO PG's "Transmission Tower Card", which has been primarily used for recruitment purposes. Furthermore, we plan to collaborate with DEA*3, which has experience with, and WEB3.0 technical prowess that it has cultivated through, NFT gaming and the NFT market, in order to explore new ways to add value beyond mere ownership of the "Electric Power Asset NFT."*4

In producing the electric power asset NFT, TEPCO PG provides photos of facilities that harmonize with the scenery and the stories of each asset from among the electric power assets that TEPCO PG owns, which stretch from the cities to the mountains, thereby conveying the appeal of its electric power assets and supporting recruitment and other activities throughout the power industry.

*1 Non-Fungible Token (NFT). NFT uses blockchain technology to create unique digital assets.
*2 WEB3.0 is an "economy that creates, holds, and exchanges value using tokens, such as cryptocurrency, on the blockchain". Source: Web3.0 (METI/Ministry of Economy, Trade and Industry)
*3 DEA (Digital Entertainment Asset Pte. Ltd.). Since its launch on 26th May 2020, the NFT game platform "PlayMining" has gained over 2.7 million users in over 100 countries. DEAPcoin is Japan's first Play-to-Earn token, and "PlayMining" is the world's first Play-to-Earn token economy, leading the world's GameFi field.
*4 Signing of a MOU with Digital Entertainment Asset Pte. Ltd. for consideration of a Sustainable Social Contribution Game Utilizing “Electric Power Asset NFT”
https://www.greenwaygrid.global/signing_of_mou_with_dea/

Please see the below attachment for an overview of “Electric Power Asset NFT (Transmission Tower and Utility Pole NFT Cards)” and the method of sale.

Overview and method of sale of
“Electric Power asset NFT (Transmission Tower and Utility Pole NFT cards)”

1. Card type and price

(Transmission Tower NFT card)

  • S rank (1 type x 5 sheets): 100,000 yen/1 sheet (tax included)
  • A rank (2 types x 10 sheets): 30,000 yen/1 sheet (tax included)
  • B rank (2 types x 10 sheets): 10,000 yen/1 sheet (tax included)
  • C rank (5 types x 20 sheets): 3,000 yen/1 sheet (tax included)

(Utility pole NFT card)

  • S rank (1 type x 5 sheets): 100,000 yen/1 sheet (tax included)
  • A rank (2 types x 10 sheets): 30,000 yen/1 sheet (tax included)
  • B rank (2 types x 10 sheets): 10,000 yen/1 sheet (tax included)
  • C rank (5 types x 20 sheets): 3,000 yen/1 sheet (tax included)

2. Sales Volume

10 types of Transmission Tower NFT card, 10 types of Utility pole NFT card, 290 sheets in total

3. Sales period

April 3 to 30, 2023
*Sales start at 9:00 (JST) on April 3 (Monday)

4. Sales

Sold at the following internet site
https://nft.hexanft.com/en/users/g1mRrrU3HXQTDP?collection=%E3%80%90%E9%9B%BB%E6%9F%B1%E3%80%91%E3%83%A9%E3%83%B3%E3%82%AFS

5. Benefits

If you purchase one or more NFT from each rank (S to C), you will receive a “Premium Electric Power Asset NFT”. (See the URL above for details)

6. Production Involvement

Production: Greenway Grid Global. Pte. Ltd.
Sponsored by: Transmission Line Construction Technology Study Group
Photo: TEPCO Power Grid, Inc.
Supported by: Digital Entertainment Asset Pte. Ltd

© Business Wire 2023
All news about TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.
04/16Greenway Grid Global Pte. Ltd. & Tep : the Sale of "Electric Power Asset NFT (Transmission..
BU
04/16Germany's last nuclear reactors shut down - But the debate remains
DP
04/16Historic nuclear phase-out completed - but problems not yet solved
DP
04/15As Germany ends nuclear era activist says still more to do
RE
04/15End of the nuclear power era in Germany - Last reactors to be taken off the grid
DP
04/15Atomic 'angst' over? Germany closes last nuclear plants
RE
04/14Atomic 'angst' over? Germany closes last nuclear plants
RE
04/12Struggle over nuclear power until the last minute - FDP wants nuclear power reserve
DP
04/12Explainer-Why a clean energy transition is so important to G7 chair Japan
RE
04/10Japan's three megabanks to face votes on climate change - sources
RE
More news
Analyst Recommendations on TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.
More recommendations
Financials
Sales 2023 7 211 B 53 935 M 53 935 M
Net income 2023 -115 300 M -862 M -862 M
Net Debt 2023 - - -
P/E ratio 2023 -6,91x
Yield 2023 -
Capitalization 796 B 5 956 M 5 956 M
Capi. / Sales 2023 0,11x
Capi. / Sales 2024 0,11x
Nbr of Employees 37 939
Free-Float 92,8%
Chart TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.
Duration : Period :
Full-screen chart
Technical analysis trends TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 2
Last Close Price 497,00 JPY
Average target price 325,00 JPY
Spread / Average Target -34,6%
EPS Revisions
Managers and Directors
Tomoaki Kobayakawa Executive President & Director
Yoshimitsu Kobayashi Chairman
Hideko Kunii Independent Director
Hideo Takaura Independent Outside Director
Shigeo Ohyagi Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC.4.41%5 956
NEXTERA ENERGY-6.67%157 864
IBERDROLA, S.A.4.89%79 353
SOUTHERN COMPANY1.47%78 452
DUKE ENERGY CORPORATION-3.74%75 246
ENEL S.P.A.13.48%63 740
1 MarketScreener is worth more than 1000 Influencers!
100% Free Registration

Russia has cut off natural gas supplies to Germany due to the war with Ukraine.

Title:

Content: Germany ’ s nuclear power plant will remain on standby until 2023
BERLIN (AFP) - As Russia cuts off natural gas supplies and Europe struggles to find energy sources, Germany today announced a change in its nuclear policy to keep two nuclear plants on standby after a deadline expires at the end of this year.
Advertisement
Economy Minister Robert Habeck said in a statement that after the stress tests, the authorities decided that two of the last three nuclear plants, originally scheduled to be decommissioned by the end of the year, would remain in operation until April 2023 as backup capacity and could generate electricity if needed.
The move resulted in a partial nuclear exit plan laid out by former Prime Minister Angela Merkel.
But Haberke said Germany remains committed to scrapping its nuclear program and that all nuclear plants will be off the grid by the end of this year.

The war has led to a significant reduction in Russian natural gas supplies, causing a shortage in Germany.

Title:

Content: What is the status of the global energy market four months after the war in Ukraine?
What is the status of the global energy market four months after the war in Ukraine?
Russia ’ s war in Ukraine has entered its fifth month, complicating the global energy supply situation at a time when energy security in the European Union is at stake.
Energy, especially natural gas, is now a scarce commodity in many countries within the European Union, German Energy Minister Robert Habeck said last week.
His comments did not come out of thin air, as Russian gas supplies to EU countries via the Nord Stream 1 pipeline are now 60 percent lower than at the beginning of June.
More than 10 European countries are suffering from a shortage of Russian gas supplies as the European Commission seeks to find a variety of energy sources.
Other suppliers, however, are committed to long-term contracts with consumers, most of whom are outside the bloc.
Energy security in many European countries looks set to face a bleaker future, with Russia ’ s Gazprom announcing that it will carry out maintenance on the Nord Stream 1 pipeline this month.
This means that the gas will eventually stop to Germany, and from there to some other countries.
The announcement was met with European skepticism, with Minister Habik saying on Monday that the maintenance is only a Russian pretext to justify cutting off gas and putting pressure on countries that rely on its supplies.
Natural gas prices are six times higher than a year ago, now reaching a peak in October, when the bloc raced to fill gas storage facilities as winter approached.
European leaders have not stopped visiting Africa, Asia and the Gulf countries in search of other supplies in the form of liquefied gas, but any alternative supplies need time to prepare the infrastructure.
Before the war, Europe imported 176 billion cubic meters of natural gas from Russia, accounting for 40 percent of its total needs.
Compared to gas, the security of crude oil supplies is less uncertain.
But oil prices have affected various countries of the world without exception, due to increased demand and the search for alternatives to Russian gas.
Currently, the price of a barrel of oil is around $113, up 45 percent from its prices at the end of 2021, with research institutions expecting it to surpass that level by the fourth quarter of 2022.
Russia produces about 10.5 million barrels per day.
Most of its exports go to Asian markets, led by China and India – the world ’ s first and third largest crude oil importers.
As Western countries restrict Russia ’ s oil exports, there is a growing need for alternative supplies, which are difficult to obtain due to the lack of spare production capacity of other major producers.
On Monday, OPEC + said it would stick only to oil production increases previously scheduled for next month, but avoided discussing production policy from September onwards.
This is due to the inability of group members to pump more crude directly to meet rising demand.
As a result of all of the above, European countries, led by Germany, France, Austria, the Netherlands and soon Italy, returned to the use of coal in power generation, by reopening coal-fired plants that were scheduled to be closed.
Coal demand has risen globally since June, with the exception of Russia, where the bloc is trying to avoid imports.
A return to coal as a fuel calls into question industrialised countries ’ plans to achieve global carbon neutrality targets for 2030-2050.
Arab Jerusalem

Natural gas prices are six times higher than last year, causing an energy crisis in Germany.

Germany has resumed using coal for power generation amid rising global demand.

Germany has curbed energy use after Russia cut gas flows by 60%.

Title:

Content: Germany to curb energy use over ‘serious’ gas situation

·2 min read

Germany will curb domestic energy consumption and boost stockpiles, as it ramps up efforts to stem a winter fuel supply crisis.

Europe’s biggest economy will increase gas stockpiles and aim to cut down on the use of energy by its dominant industrial sector, economic minister Robert Habeck said in a statement on Sunday.

“Security of supply is currently guaranteed. But the situation is serious,” he added.

“Gas consumption must fall further, and in return more gas must be put into the storage facilities, otherwise things will really get tight in the winter.”

Alarm has grown over the prospect of the continent’s fuel reserves running out after Russia last week cut flows through the Nord Stream pipeline to Germany by 60pc, as part of an escalating pressure campaign by Vladimir Putin.

Prior to the war in Ukraine, Russia supplied Germany with just under a third of its gas.

"The tense situation and the high prices are a direct consequence of Putin's war of aggression on Ukraine," Mr Habeck said.

"What's more, it is obviously Putin's strategy to make us insecure, to drive up prices, and to divide us. We will not let that happen. We will fight back decisively, precisely and thoughtfully."

Analysts at Wood Mackenzie, an oil and gas consultancy, have predicted Europe could run out of gas supplies by January if the Kremlin turns off the taps.

The European Union is already pressing ahead with plans to ban the import of seaborne Russian oil, which would leave the continent scrambling to find new sources.

Mr Habeck, a minister for the Greens party, said Germany will be forced to rely more on coal-fired power plants as it tries to weather the current energy crisis.

A bill to allow plants to continue operating will be discussed in the upper house of Germany’s parliament in early July, and is expected to quickly enter law afterwards.

“That means, we have to be that honest, more coal-fired power plants then for a transitional period,” Mr Habeck said.

“That’s bitter, but it’s simply necessary in this situation to reduce gas consumption. We must and we will do everything we can to store as much gas as possible in the summer and fall.”

In an interview on Saturday, Siegfried Russwurm, president of Germany’s BDI lobby group, said Germany needed to get coal-fired plants out of reserve “immediately”.

A new auction system will be introduced to encourage industrial companies to save fuel, which can then be transferred to storage.

A German government source told Reuters the support would also include €15bn (£12.8bn) of support for the country’s gas market operator to fill storage facilities more quickly.

The German government is prepared to take further action if needed, Mr Habeck added.

Germany relies on Russia for a third of its gas and may run out by January.

Germany plans to rely more on coal and increase gas stockpiles to address the crisis.

Germany is seeking to import natural gas from the US and Qatar to reduce its dependence on Russia.

Title:

Content: Geopolitics / Ukraine
The Ukraine War Affects Germany ’ s Energy Strategy
Russia ’ s war on Ukraine forced Germany to overhaul its energy strategy.
Berlin has urgently started the construction of two previously abandoned LNG terminals.
This is the subject of a field interview published by our RFI correspondent in the French "Chronique Reportage International" column on Thursday, March 3rd.
Advertisement
In an interview published on Thursday, March 03, 2022 in Chronique Reportage International, correspondent Julien Méchaussie reported from Berlin that Germany, which imports more than 50% of its natural gas and relies on Russian supplies, is now forced to review its energy strategy from the bottom up.
In the face of the inevitable price increase, the people are very worried.
The original title of this RFI column in French was: [Guerre en Ukraine: les conséquences sur l'appropriationnement en gaz russe pour l'Allemagne].
The war in Ukraine: consequences of Russian gas supplies for Germany.
Below is a brief summary for information.
The German people are upset -
In a live interview from Berlin published Thursday in Chronique Reportage International, RFI ’ s French-language network, a passer-by said in German on his way to work that the outbreak of the war in Ukraine had caused a decades-old energy policy to collapse in a matter of days.
Rising energy prices are not good for anyone.
This is not good for the job market, which automatically leads to price increases for all products.
People will be afraid of huge inflation, and the impact on the economy is tragic.
Here, the RFI French correspondent pointed out that the fear of the passer-by interviewed represents many German people.
In Germany, which has a long history of importing Russian gas, Prime Minister Olaf Scholz announced the suspension of the Nord Stream 2 gas pipeline project.
The pipeline linking northern Germany to Russia via the Baltic Sea was completed in September 2021.
The project has now come to a halt. Nord Stream 2 declared bankruptcy this week and more than 100 of its collaborators lost their jobs.
There were signs before the war -
A well-known professor of environmental and resource economics called Germany naive.
He said that at the beginning of this winter, the wind has turned around.
Before the war, Russian gas exports to Germany had dropped to their lowest level in months.
Despite the record price, it is now good to see that this is clearly part of the overall strategy of the Russian side.
German Deputy Prime Minister and Federal Minister for Economy and Climate Robert Habeck plans to increase coal imports.
The German Federation of Small and Medium Enterprises has called for an extension of the deadline for coal abandonment, which was decided at the end of last year.
Germany, now seeking to diversify its energy supply, will turn to countries like the United States and Qatar.
But the problem is that these countries are now exporting liquefied natural gas, and Germany has no corresponding terminal to be docked.
Experts interviewed pointed out that Germany is in urgent need of new liquefied natural gas terminals.
However, it takes three to four years to build a terminal.
Of course people can do it as quickly as possible, but this new strategy is not a very short-term solution.
We need to rely on existing infrastructure.
Once the new terminal is put into use, the sky should clear up.
Germany launches old project -
Abandoned two years ago due to a lack of political support, two projects to build LNG terminals in the North Sea have now been urgently launched at a cost of around €1 billion.
... and...
Email News Headlines In Your Daily News Letter
Download the Guangdong-France app to track international current events

Germany has launched construction of two North Sea LNG terminals to diversify its energy supply.

There is no clear indication in the current data that nuclear reactors will be brought back online in Germany.

Title:

Content: Russia, Ukraine under international sanctions to reduce dependence on Moscow for natural gas supply
BERLIN (AFP) – Moscow ’ s invasion of Ukraine highlights Germany ’ s dependence on Russian gas, forcing Europe ’ s largest economy to urgently adjust its domestic energy mix.
Advertisement
"We have to change course to overcome our dependence on imports," German Chancellor Olaf Scholz told a special session of the Bundestag on the Ukraine crisis.
With Russia increasingly isolated from the rest of the world as a result of sanctions imposed on the Ukrainian economy, Berlin can no longer rely on Moscow to supply more than 50% of Germany ’ s natural gas.
German Finance Minister Christian Lindner said on Monday that energy supplies were still mostly exempt from Western sanctions, but that policymakers still had to respond to Russia ’ s decision to stop gas supplies.
A coalition of the Social Democrats (SPD), the Greens and the Liberal Democrats (FDP) came to power in December last year, with the new government pledging to withdraw coal-fired power by 2030, but upholding former Prime Minister Angela Merkel ’ s decision to let nuclear power out of service by the end of 2022.
But in Germany ’ s green energy transition plan, natural gas plays a critical and excessive role, providing existing energy supplies before wind and solar power are in place.
Robert Habeck, Germany ’ s economy and climate minister, recently said, “In the short term, we may have to leave coal-fired power in reserve. ”
Green ministers also did not rule out delaying the decommissioning of Germany ’ s last three nuclear power plants.
However, the German government faces significant challenges in pursuing the nuclear option.
“You can ’ t delay the decommissioning of a nuclear power plant after you decide to shut it down, ” says Karen Pittel, an energy expert at the think tank IFO.
Power company RWE told the German daily Handelsblatt that maintaining nuclear power plants in operation would face “extremely high barriers ”“ on a technical and administrative level. ”
(Translator: Liu Shuqin / Review: Chen Chengyi)

The war in Ukraine has prompted Germany to reduce its gas use for electricity.

Title:

Content: BERLIN (Reuters) - Germany is considering keeping coal-fired power plants open longer to ensure energy security, the government said Thursday, as Russia ’ s invasion of Ukraine raises concerns about electricity supplies.
Berlin said it would reduce the use of gas for electricity generation by "potentially keeping coal-fired power plants as a security precaution for a longer period".
The decommissioning of power plants "could be suspended until further notice," she said, adding that she and "in principle" could commit to the goal of gradually reducing coal use by 2030.
Climate neutrality
The coalition, which includes the Social Democrats, the Greens and the Liberal Free Democratic Party, has sought to end coal use in the coming years in order to reach climate neutrality by 2045.
The energy transition was predicated on temporarily increasing gas imports while boosting renewable energy infrastructure.
But the war in Ukraine changed Germany ’ s best plans.
Fifty-five percent of Germany ’ s gas imports come from Russia, exposing its dependence on Russian energy resources as Western allies push for sanctions against President Vladimir Putin ’ s administration for invading Ukraine.
Germany's Greens economy minister has been forced to search around the world to buy coal to boost energy reserves.
Pressure has been mounting amid growing calls by Western countries for a total ban on Russian energy imports, but Germany has so far refrained, citing possible repercussions for Europe's largest economy.
Putin ratcheted up the tone on Wednesday by demanding payments for gas purchases in rubles, which Germany said was a breach of contracts.
US President Joe Biden will attend Thursday ’ s summit in Brussels, which is expected to focus on energy security.

A complete Russia shutdown could affect up to 1.5% of EU GDP, significantly impacting Germany's economy.

Title:

Content: Russia and Ukraine war broke out, Europe and the United States launched economic sanctions against Russia, but also tasted the bitter fruit of soaring energy prices, rapid rise in inflation, which Russia holds 40% of Europe's natural gas supply, every move is about the fate of Europe, some foreign media believe that natural gas is a test of Europe can unite the moment, if Russia continues to reduce the amount of gas, Germany may reduce the proportion of exports, will be left to the domestic This will create tension within the EU.
Nord Stream 1, Russia ’ s important natural gas pipeline to Europe, was shut down for 10 days in early July for routine maintenance, and earlier it was reported that Nord Stream 1 would be restarted and restored to pre-maintenance levels, that is, about 40% of the pipeline ’ s gas output, which also led to a 3% decline in European natural gas futures.
Although Russia resumes Nord Stream 1 operation, but the energy crisis in Europe has not been lifted, if Putin decides to completely cut natural gas supply, Germany will reduce the total natural gas supply of about 60%, UBS believes that this year's shortage has caused German households to reduce energy consumption by 20%, industrial manufacturers even cut electricity consumption by half, thus causing a shock to the economy.
George Hay, a Reuters columnist, warned that if Russia continues to reduce its gas output, Germany will face a choice between appeasing its citizens and helping its neighbors, possibly reducing its share of exports to countries like France, Austria and Switzerland, and reserving credits for natural gas, which will trigger tensions within the European Union.
If Putin does completely cut off the supply of natural gas to Europe, the EU may pass a crisis through a financial support package, as it did during the COVID-19 pandemic.
Not only that, Europe ’ s energy crisis will become more severe this winter, even with limited natural gas rationing, Royal Bank of Canada analysts believe that the EU will have to reduce demand by 19% if supply falls across the board, while the European Commission estimates that a complete shutdown in Russia will affect up to 1.5% of GDP.
# Putin # Russia # Ukraine # Natural Gas # Europe