Key Findings

The German Energiewende is here to stay.

It is very unlikely that Germany will reverse its course. The transition away from nuclear power has been long in the making. Of course the Big Four utilities (E.ON, RWE, Vattenfall, EnBW) once fought hard to defend their incumbent interests by delaying the switch to renewables, but Eon and RWE have publicly announced their plans to stop building nuclear plants internationally, and EnBW is now owned by the State of Baden-Württemberg, which has a Green governor who is unlikely to instruct the company to support nuclear more. Industrial giant Siemens has also stepped away from nuclear in its global portfolio and now wants to focus on wind power and hydropower. The public strongly supports extending renewables, even in light of rising retail power rates. Germans expect their political leaders to take on the challenge of the energy transition. There are disagreements across the political spectrum about which strategies are the best, but in general all German political parties today support the energy transition because the German public overwhelmingly does.