German Grid Operators Post Record Returns Amid Infrastructure Lag

An analysis by the German Association for New Energy (BNE) shows that the 18 largest electricity grid operators in Germany, which supply roughly half of all households and businesses, recorded an average equity return of 30.1% in 2024, up from 16.6% in 2023. Companies with regional monopoly positions such as EWENetz (61%), Westnetz (45%), Mitteldeutsche Netzgesellschaft Strom (43%) and Bayernwerk Netz (38%) posted the highest profits, prompting criticism that these gains come at the expense of consumers.

At the same time, Germany’s grid expansion and digitalisation lag behind demand. From January to May 2026, the wholesale electricity market logged 242 hours of negative prices, driven by abundant renewable generation and an inflexible network unable to absorb excess supply. Producers must pay to have surplus electricity taken, while only consumers with dynamic tariffs or smart‑meter systems could potentially benefit. Industry leaders call for a rapid rollout of smart meters and dynamic pricing models, and the Federal Ministry for Economic Affairs aims to make smart meters mandatory for high‑consumption households and sizable PV installations by 2030.