Germany will close down its three remaining nuclear reactors this weekend, marking the end of an era in its energy history.

Germany closed over 18 GW of nuclear capacity since the start of its nuclear phase-out policy in 2011 in the aftermath of the Fukushima accident in Japan.

The share of nuclear dropped in the country’s power from over 25% in 2010 to just 6% last year. The share of coal and lignite dropped from 42% to 31% during the same period… but could the share of coal shrink even faster if the nuclear plants are kept?

The closure of Germany’s three nuclear reactors is unlikely to have an immediate impact on price levels, this has been already incorporated along the forward curve.

But it is likely to feed additional volatility this summer and could support higher thermal generation, including gas (and coal?), in the coming months… which could make gas savings more difficult.

What is your view? What is the future of nuclear in Europe? How will the end of German nuclear impact the European markets in the short-term?

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