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Chief Financial Officer for RWE AG Markus Krebber took part in ‘virtual’ Aurora Conference

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The Aurora Spring Forum is an annual event and is one of the leading gatherings of the European energy industry. The event is organised by Aurora Energy Research, a prominent consulting firm that provides independent analysis of European and global energy markets.

The event usually brings together industry leaders in an exclusive venue in Oxford, UK, to discuss the medium and long term challenges of the industry. However, due to the Covid 19 pandemic, all European events and conferences have been cancelled. Despite this, Aurora did not cancel the Spring Forum 2020. Instead, they tried new ways of conferencing and showed that expert discussion and the exchange of views can still be achieved in the challenging times we are all facing.

In a very short timescale, organisers reorganised the Spring Forum into a ‘virtual congress’ entirely based on video conferencing. Aurora pre-recorded seminars, that registered delegates can access over the coming weeks.

This year the theme of the event was “The Future of Energy”, and included panels and discussions on the climate change agenda, the huge regulatory uncertainty created by Brexit in the UK, coal-phase-out, levy and grid charging reforms in Germany and other European countries, and the pace of technological change that is fundamentally reshaping our industry.

Markus Krebber, Chief Financial Officer, RWE AG had a prominent role as a virtual panel speaker on the topic ‘Competition in renewables auctions:  Is this the future? How involved should Government be?’ 

Markus Krebber had the opportunity to give his views on a future market design suited to a decarbonized energy supply system largely based on renewables.

Markus also provided views on how governments must create solutions for a fully new energy system; combining ‘renewables, flexibility, security of supply/firm green energy and ancillary services’. Adding ‘The cheapest solution to deliver all of these aspects must be sought after.’

In addition, he was clear on his view on Contracts for Difference (CfDs): ‘2-sided CfD is part of an  optimal systems solution.  Renewables are competitive. Therefore it is more appropriate to talk about remuneration for renewables rather than subsidies.’ Under a 2-sided CfD, the generator gets paid and also pays money back to consumers.

You can see the full recording of the session here.