Federal Economics Minister Robert Habeck expects an agreement to be reached soon in talks with the EU Commission on the planned power plant strategy.

"We are in a permanent loop with the Commission, which I believe also has an interest in getting the whole thing done during its term of office," said the Minister on Thursday at the BDEW Congress 2024 in Berlin. "The devil is in the detail. But they see me as hopeful."

The German government wants to secure the overall increasing but fluctuating electricity generation from renewable energies such as wind and solar with new gas-fired power plants. These will later be converted to run on climate-friendly hydrogen. The plans envisage the construction of power plants with a total capacity of ten gigawatts by 2030. However, it is still unclear how the provision of secured electricity output is to be remunerated.

(Report by Tom Käckenhoff, edited by Sabine Ehrhardt. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).