伯恩斯坦公用事业日报-7月9日

www.bernsteinresearch.com and Doel-4 beyond 2035. Lifespan extension measures will necessitate extended maintenance periods during the summers of 2026,2027, and 2028.GERMANY: EC backing for German industrial power price a"major success" (Montel). The European Commission has approved Germany'splans to implement an industrial power price in a "major success" for the country, economy minister Katherina Reiche said onTuesday. "We have scored a major success in Brussels... We can introduce the industrial power price in Germany,' she said. The sittinggovernment has promised to bring industrial power prices down to 50/MWh. The front year Cal 26 is currently trading at 86/MWhon the EEX. The new rules "offer more wiggle room than we previously had', said Reiche. But now it was possible "to clear a path foran industrial powerprice"Theaid canbegrantedfor uptothreeyears.Anyprogrammesundertheplanmustbe concludedby31December2030: German economy launches huge investment offensive (Handelsblatt). Several German companies are planning an investmentoffensive to bolster Germany as a business hub, aiming to mobilize hundreds of billions of euros. Approximately 3oObn inmodernization, and product development. A summit for the investment alliance is expected for July 21 at the Chancellery, involvingChancellor FriedrichMerz,Finance Minister LarsKlingbeil,and federal government representatives.CEOs leading the initiative arealso expected to attend. Participants have not publicly commented on the project yet.IBERIA. Iberdrola sells 5o% of East Anglia 3 to Masdar at 3.7m/MW (El Economista). Iberdrola and Masdar have announced theagreement through which the latter will acquire a 50% stake (vs 49% stake initially expected) in the offshore wind project EastAnglia 3 (1.4GW). The price agreed implies a total valuation of the projects at 5.2bn or 3.7/MW. Iberdrola will operate and do themaintenanceoftheprojectwhichisexpectedtobe inoperationbytheendof2026.: Iberdrola sells a dozen mini-hydro plants in Spain to the Cube fund (El Economista). Iberdrola has reached an agreement folthe sale of a portfolio of ten mini-hydro plants in Spain with Green Energy Platform (GEP), an investment platform controlled by CubeInfrastructure Managers.Theoperationwillallowthesaleof adozenfacilitieswithatotal capacityof 31Mw distributedbetween LaRioja, Navarra, Castilla-La Mancha and Castilla y LeonGovernment increases the capex plan 202126 by 750m (MITEcO, Redeia). The Council of Ministers has approved anthe total investment for the current plan (2021-26) now amounts to 8,203mEndesa claims 454mohhe Government for damages for the increase in the 'Enresa tax' (El Economista). Endesa hasfiled a 454m patrimonial claim against MITECO and Enresa over damages caused by a 30% increase in the'Enresa tax, which fundsradioactivewastemanagement and nuclear plant dismantling.This follows Iberdrola's324mclaim in Aprilforthe sameissue.Thetax hike, approved by the Government a year ago, raised the rate from 7.98/MWh to 10.36/MWh to cover costs outlined in theseventhGeneralPlanforRadioactiveWasteEdMilibandabandonsplantochargelessforelectricityinScotland(TheGuardian).EdMilibandhasabandonedplansforzonapricing, after senior officials warned it could put off investors and make it more difficult to build renewables. Sources have told theGuardianthatthegovernment hasdecided nottoproceedwiththeschemeandthatthedecisionwill beannounced once it hasbeensigned off by the cabinet. One source said: "The government has been weighing this up carefully and concluded that the benefitsofdeliveringthe cleanpowermission atpace,particularlygiventheexpectedimpact of imminentgrid upgrades; theneedtodeliveron the coming renewables auctions; and the significant risk premium being attributed to the UK by international investors, wouldBrookfield set to take over 2o% stake in Sizewell c (FT). Brookfield Corporation is set to become the largest private investorinSizewell C and EDFwillcut its stake, accordingtotermscloseto beingfinalised withtheUKgovernment foritsflagship nuclealproject. The UK government is seeking to reach a final investment decision later this summer, with Brookfield set to have a more than20% stake, making it the largest shareholder after the UK government, which is expected to retain majority control, according to aEUROPEAN UTILITIES &CLEAN ENERGYBERNSTEIN|SOCIETE CENERALE CROUP UK person familiar with the situation. Meanwhile, the original project sponsor, EDF, will reduce its stake to 12.5%. The UK governmentsaid FID was now targeted for this summer, without specifying a month. Centrica, the owner of British Gas, is set to take a stake ofabout15%,theFinancialTimespreviouslyreported: Land rights shake up to benefit electricity networks (Utility Week). The government has proposed a consultation to allowwill allow the electricity license holders to install or maintain electric lines and associated equipment on private land to the full lifespan of a given asset without applying for a