Sonja van Renssen, energy and environment journalist, is joined by Tom van Ierland, Deputy and Acting Head of Unit C1. Strategy and Economic Assessment DG Climate Action, Jonathan Gaventa, Director, Third Generation Environmentalism (E3G) and EirikWĂŠrness, Senior Vice President and Chief Economist, Statoil to debate the question: âDid Paris deliver the low-carbon investment signal Europe needs?â. This highlight video presents the core … [Read more...]
EU carbon market hit by Brexit, but reform carries on
Will the reform of the failing EU Emissions Trading System (ETS) be a casualty of Brexit, now that the UK, one of the biggest carbon markets in the EU, may leave the system? As the EUEnergy App shows, greenhouse gas emissions in Europe have gone down drastically since 1990. But not thanks to the EU ETS. What is more, in the coming years much greater emissions cuts are needed, and the carbon market is expected to deliver these, with or without the … [Read more...]
Carbon pricing is not enough to help nuclear power
Politically feasible carbon pricing is not likely to provide the long-term revenue needed to support existing or new nuclear power projects. Instead, project-specific activities should be undertaken to keep existing nuclear in operation and to drive investment in new nuclear power plants - with the cost of these activities recovered as a cost of controlling carbon, writes Edward Kee, CEO of Nuclear Economics Consulting Group. Courtesy of World … [Read more...]
The good news: Brexit will enable a fresh start on climate and energy
The bad news is that upcoming climate and energy legislation in the EU will almost certainly be postponed as a result of Brexit, writes Brook Riley of Friends of the Earth Europe. But the good news is that Brexit will provide an opportunity to make it clear to EU citizens that ambitious climate and energy policies are key to a better future. … [Read more...]
âParis Climate Agreement requires huge economic turnaround in Europeâ
The targets agreed to at the Paris climate summit in late 2015 imply a radical change to our economies, a new report by consultancy CE Delft shows. CO2-prices will need to rise to âŹ250/ton in 2050 (compared to some âŹ6 per ton now) and most of the existing industrial installations and infrastructure will need to be replaced. CE Delft compares the scale and impact of the transformation to the one that occurred in Eastern Europe post-1989. … [Read more...]
A practical solution to windfall profits in the EU carbon market
This is a rare moment for climate policy making in the EU, writes Emil Dimantchev, senior carbon market analyst at Thomson Reuters. Lawmakers in Europe have begun a process to redesign the EU carbon market with new rules that will take effect after 2020. According to Dimantchev, they should follow the example of California and introduce a dynamic allocation system of CO2 permits. It is the most practical and politically feasible way to end … [Read more...]
Leading by example? Impacts of a domestic French carbon price floor
If enacted, Franceâs plan for a domestic carbon price floor will lower CO2 emissions and increase power prices in France, but it will only have a marginal impact on total EU CO2 emissions and European carbon prices, write HĂŠge Fjellheim, Yan Qin and Emil Dimantchev, senior analysts at Thomson Reuters. They surmise that for the French government the plan is a way to lead by example. It will also bring in extra government revenues and improve the … [Read more...]
ETS reform: how will it affect CO2 price? [PREMIUM CONTENT]
The MEP in charge of reforming the EU Emission Trading Scheme (ETS) has finally revealed his thinking. MEP Ian Duncanâs proposals open the door to more ambitious emissions cuts in the wake of the Paris climate deal and beef up a new Innovation Fund. But his most significant suggestion is a âtieredâ approach to carbon leakage, which would give some industries more free allowances than others. So what does it all mean for the carbon price? … [Read more...]
European researchers: include consumers in the EU Emission Trading Scheme
The EU Emission Trading Scheme should not only be applied to industrial producers of CO2, but also to their consumers, proposes Karsten Neuhoff, Head of the Climate Policy Department at the German Institute for Economic Research (DIW Berlin). This would provide sufficient incentives to all market players to reduce their emissions and would do a lot to clarify the structure of free allowance allocation, providing long-term certainty for … [Read more...]
To end windfall profits EU should limit free allocation of CO2 allowances to industry
EU member states intend to continue giving European manufacturers free CO2 allowances, even though this will hand them windfall profits, and will not motivate them to reduce CO2 emissions, writes Emil Dimantchev,  senior carbon market analyst at Thomson Reuters. Dimantchev calls on the European Commission to start a discussion with stakeholders and lawmakers from the European Parliament and member states to find a compromise ensuring that … [Read more...]
Jeroen van der Veer, ex-CEO Shell, Chairman ING: âMoving away from fossil fuels presents great opportunities for oil companiesâ
âThe energy transition presents great opportunities for oil and gas companies to develop new forms of energy and gradually move away from fossil fuelsâ, says Jeroen van der Veer, former CEO and Chairman of Shell in an exclusive interview for World Energy Focus, a monthly publication of the World Energy Council produced by Energy Post. But the former Shell boss rejects the idea that the oil companies are in danger of ending up with large âstranded … [Read more...]
National climate policies undermine European Emissions Trading Scheme
National subsidies and other forms of support for renewable energy and energy efficiency have seriously undermined the functioning of the EUâs Emissions Trading Scheme (EU ETS), writes Arnold Mulder of the University of Groningen. His PhD research, supervised by professors Catrinus Jepma, Steven Brakman and Erik Dietzenbacher, shows that current efforts to reform the system and increase CO2 allowance prices will not work if this adverse policy … [Read more...]
National Parliaments should approve Paris Climate Agreement before it is a done deal
The European Commission is taking steps to have the Paris climate agreement ratified and signed at EU level, without involving the parliaments of the Member States. Although this may be formally acceptable, it is a bad idea, writes Lucas Bergkamp, Partner at the Brussels-based law firm Hunton & Williams: it will aggravate the EUâs âdemocratic deficitâ, weaken popular support for climate action and will leave intact key weaknesses in the … [Read more...]
Europeâs energy investment crisis: âthe EU energy market needs a makeoverâ
Europeâs electricity market, which has some of the highest renewable energy shares in the world, is suffering from a profound investment crisis. Sonja van Renssen spoke with top experts from government, business and academia about the causes and possible solutions. Conclusion: âtinkering around the edgesâ wonât do - âa complete makeoverâ of Europeâs market design is needed. Courtesy of World Energy Focus. … [Read more...]
Behavioural change could deliver half of industry energy saving potential
Expert studies show that there is still vast untapped energy efficiency potential of up to 25% in European heavy industry. Moreover around half of that, or 10-15%, could be delivered through behavioural change at zero capital cost. So far, the EU has mandated energy audits for large companies, but not application of their results. Energy Post looks at how a new heating and cooling strategy due on 16 February and a review of the EUâs energy … [Read more...]
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