Energy Unplugged by Aurora

EP.264 Anna von Bremen on Green vs. Grey: Making Germany’s Energy Market Work

Nov 18, 2025
Anna von Bremen, a partner at Osborne Clarke and expert in energy regulation, joins to discuss the current state of Germany's energy market. She highlights the evolving role of regulators in fostering a flexible, digitalized grid and the challenges of integrating co-located battery storage with green and grey power. Topics include market mechanisms like capacity pricing and dynamic pricing, which impact investment certainty. Anna also addresses the urgency of meeting climate targets while ensuring efficiency and rationalization in energy strategies.
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INSIGHT

Realistic Timeline For Gas Tenders

  • The government timeline for gas tenders is optimistic and legal steps push realistic auctions into late 2026 or 2027.
  • Anna expects Brussels review, mandatory consultations and seven months of auction prep will delay first tenders until November next year.
INSIGHT

Brussels Will Scrutinize New Supply Numbers

  • Re-submitting a larger supply gap overturns earlier Brussels assessments and invites scrutiny.
  • Anna warns Brussels may challenge contradictions between previous and new security-of-supply reports.
INSIGHT

Neutrality Allows Justified Differentiation

  • Technology-neutral capacity markets still allow justified differentiation by asset characteristics.
  • Anna expects rating factors (e.g., duration limits) to reduce batteries' capacity credits versus gas plants.
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