Following sharp wholesale power price spikes in late 2024 — particularly during so-called Dunkelflaute periods (when both wind and solar generation are scarce) — German regulators launched an extensive probe into possible market abuse by major power producers.

According to Reuters, the investigation by the Federal Cartel Office (Bundeskartellamt) and the Federal Network Agency (Bundesnetzagentur), concluded in October 2025, found no evidence of market manipulation or collusion. Still, regulators warned that the current market structure and reduced baseload capacity can exacerbate price volatility during low renewable output periods.

Energy analysts view the episode as a reminder that alongside accelerating renewable expansion, Germany must strengthen flexible capacity — such as energy storage, demand response, and gas-fired plants compatible with green fuels — to maintain reliability.

From a system design perspective, the 2024 price crisis reflects the inherent challenge of the Energiewende transition: building a power system dominated by intermittent renewables yet lacking sufficient balancing mechanisms.

Source: Reuters
Picture credit: Reuters