Energy Rev monthly round-up & snap analysis: February 2023
First signs that UK battery market may have peaked, while... Read more →
The start of 2023 picked up where 2022 finished off with multiple new renewables & energy transition disposal processes and equity raises continuing to come to market across Europe. Indeed, dealflow has in some ways been surprisingly strong, given ongoing high interest rates and a resulting valuation divergence by buyers and sellers, which in turn has led to several auction cancellations.
Market players also spent the first weeks of the new year wrapping their heads around an array of EU and state level regulatory responses to the high energy prices that dominated market activity in 2022. Yet these price caps and energy levies, not to mention an ongoing consultation on decoupling the gas price from the electricity price, could soon look like solutions to a problem that (for the time being) no longer exists. This is because a mild winter, combined with EU-wide measures to bolster gas storage and reduce demand, led in January to a softening of gas and power prices way below last year’s historic highs.
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