Federal government sticks to expensive purchase of grid operator Tennet
The German Federal Constitutional Court has pulled a fast one on the Federal Government with its budget ruling. The climate fund suddenly lacks 60 billion euros. At the same time, the federal government wants to invest a lot of money in the German grid operators and convert them for the energy transition. This remains the case.
Despite the ruling on the climate fund, the federal government still wants to take over large parts of the Dutch electricity grid operator Tennet. "The German government continues to pursue the intention of transferring ownership of the transmission system operator Tennet to the federal government," said a spokesperson for the Federal Ministry of Economics. "The negotiations, which have been conducted intensively for months, have not yet come to a conclusion - despite very extensive progress."
With the takeover, the federal government would acquire a company that is central to security of supply and the implementation of the energy transition, the spokesperson said. "The takeover is the prerequisite for the urgently needed grid expansion in Tennet's supply area." The expansion of the grid is crucial for the construction of the important north-south routes for the transportation of wind power.
The constitutional court ruling on the climate fund makes it difficult for the German government to make a purchase decision. People familiar with the talks said that they had already come very close with the Dutch government on the multi-billion purchase price for the German part of Tennet. However, the court ruling, according to which 60 billion euros from the climate fund will be blocked, makes the step much more difficult for the German government.
Federal government buys grids
The price of a good 20 billion euros is not to be paid from the fund, but via the Kreditanstalt für Wiederaufbau (KfW). However, if the government had to cut back on other investment projects, the purchase would be difficult to negotiate. Tennet stated on Friday that the talks were still ongoing and that it would not comment on their progress. Tennet initiated the sale years ago because the Dutch company is not prepared to make the necessary investments for the switch to renewable energies in the German grid.
The German government has already bought a fifth of the eastern German grid operator 50Hertz via KfW. According to insiders, KfW is also reaching for a minority stake in TransnetBW.
The Federal Ministry of Economics supports the federal government's plan to acquire a significant share of Tennet, a company vital for the security of supply and the energy transition. This acquisition would facilitate the expansion of the grid, particularly for the development of north-south routes for wind power transport.
Despite the budget ruling affecting the climate fund, negotiations for the takeover of Tennet's German operations are ongoing, as the German government views it as a crucial step towards achieving energy transition goals.
Source: www.ntv.de
