The Federal Network Agency and the German competition authority have conducted a thorough investigation into the exceptionally high prices in the wholesale electricity market during the dark calm periods in November and December 2024. Their findings indicate no signs of abusive practices by major electricity producers.

Klaus Müller, President of the Federal Network Agency, stated that the controllable power plants were largely utilized during these periods, and the security of electricity supply was maintained through reserves. He emphasized the need for new controllable capacities and greater flexibility in supply and demand for future dark calm periods.

Andreas Mundt, President of the German competition authority, confirmed that their investigations found no evidence of abusive withholding of generation capacities by the five largest electricity producers during the dark calm periods. The high prices observed were not a result of antitrust violations, highlighting the importance of effective competition in preventing excessive prices.

The investigation was triggered by unusually high prices in the short-term wholesale electricity market, which spiked above 900 euros per megawatt hour during the dark calm periods, compared to an average price of around 79 euros per megawatt hour for the year 2024.

The German competition authority focused on the operations of the largest five electricity producers: EnBW, LEAG, RWE, Uniper, and Vattenfall. They examined whether reported available power plants were indeed utilized and whether any capacities reported as unavailable were genuinely so. The analysis showed that almost all reported available capacities were used during the relevant periods.

The Federal Network Agency also assessed the security of supply and potential violations of market abuse regulations. Their analysis revealed that controllable power capacities were utilized more than initially suggested by early data. They found that significant reserves were available during peak price hours, ensuring a secure electricity supply.

Both authorities concluded that while high prices can occur during dark calm periods, legislative measures are urgently needed to increase controllable capacities and enhance flexibility in the market.