Government support for new utility-scale capacity is being replaced with competitive auctions, the surest sign that the commercial appetite for renewables - particularly solar PV and onshore wind - is growing strong. This article by the IEA pulls out the essential numbers from their annual Renewables 2019 report (their 5-year market analysis and forecast for renewable energy and technologies in the electricity, heat and transport sectors). The … [Read more...]
Creating a market to trade excess wind/solar between states (without outsourcing your emissions!)
How do you get neighbouring states, with different renewables mixes, and different emissions targets and penalties, to trade their surplus energy? It’s one of the biggest challenges to face the rapid growth of intermittent wind and solar. Meredith Fowlie at the Energy Institute at Haas describes how an “Energy Imbalance Market” (EIM) is operating across eight states in the west of the U.S. Bidding for your neighbour’s excess renewable energy is … [Read more...]
The rapid liberalisation of China’s domestic gas market
China’s coal-to-gas ambitions are driving big changes to its internal gas markets, says a report “China’s Quest for Blue Skies: The Astonishing Transformation of the Domestic Gas Market” by the IFRI Centre for Energy & Climate, authored by Sylvie Cornot-Gandolphe. To cope with a doubling of gas demand by 2030, market reforms are liberalising the downstream gas market. Nobody wants a repeat of the winter shortages of 2017-18. And air … [Read more...]
TurkStream disruption: Turkey, Greece can become new gas hubs
For over 30 years the Trans-Balkan pipeline has been used to pump Russian gas to southeast Europe. But Russia’s construction of the new TurkStream pipelines can open the door for the Trans-Balkan to be re-purposed, explains Aura Sabadus writing for the Atlantic Council. Going forward, LNG can be imported into Turkey and Greece and pumped back up the same pipes to serve the region, reducing dependence on Russian gas. However, such a plan would … [Read more...]
EU gas market: what China’s tariffs on US LNG could mean for Europe
Natural gas provides for around 25% of all energy consumed in the EU and is an established, if controversial, feature of the EU’s Roadmap to 2050. Furthermore, the majority of EU gas is imported and increasingly so. Combining those two factors, price and security of supply are the main issues for EU member states. So the rise of the LNG market, diversifying supply and introducing competition, alongside traditional, piped gas should be a welcome … [Read more...]
“Stop trading renewable energy supply certificates, speed up the transition”
In the UK, REGOs certify that the power a consumer buys is renewable. As REGOs can be traded that means one supplier, sourcing 100% of their energy from renewables, and another simply buying enough REGOs to cover 100% of their output can both say they are 100% renewable. Is there a difference? Yes, says Thomas Harrison at supplier Good Energy. Trading REGOs takes the pressure off suppliers to use all their buying power to expand the supply of … [Read more...]
European Commission’s decision to approve Poland’s capacity mechanism challenged
Electricity generators can pitch for awards from governments operating capacity markets. Capacity markets establish a price (at auctions) for back-up power which may, or may not, be needed. Either way, the operator of the power plant gets paid for guaranteeing security of supply to the grid. Last year, the European Commission approved the Polish capacity market and, according to CAN Europe, in its first auction the Polish government awarded 22,4 … [Read more...]
GGFI: “Avoid carbon bubble, choose financial centre wisely”
We already have indexes that pick green stocks, and rank nations by their policies. The Global Green Finance Index (GGFI) ranks the world’s financial centres – London, New York, Singapore, Shanghai, etc. – by the policies and support they give to green investments. Old ways of valuing assets, particularly in fossil fuel companies, are being questioned say Mike Wardle and Michael Mainelli of the think tank Z/Yen, one of the creators of the index. … [Read more...]
India kick-starts wholesale electricity market reforms
India’s wholesale electricity market is no longer fit for purpose according to Dheer Patel of the Regulatory Assistance Project (RAP). Long term procurement contracts are forcing distribution companies (discoms) to buy expensive energy when cheaper alternatives are readily available. So the Central Electricity Regulatory Commission (CERC) is launching a six-month pilot, starting 1st April, that enables “least-cost dispatch” of all centrally … [Read more...]
Energy as a service: light, heat, mobility, information
Large scale electricity generators, unconcerned with end-use, want to sell you more electricity, argues Walt Patterson of the Hoffmann Centre for Sustainable Resource Economy, based at Chatham House. But the arrival of small-scale, localised and micro-grid suppliers could see the electricity generation business turned on its head. It opens the door to the selling of the service – light, heat, refrigeration, motive power, information – rather than … [Read more...]
Renewables for remote mines power supply in Africa gaining momentum
In the last few years, more and more mining companies have adopted wind and solar systems to reduce their energy costs at remote off-grid mines. In this first phase, the initial focus was on the integration capabilities as miners were afraid that adding intermittent renewables such as solar and wind could affect the reliability of power supply and even lead to production losses. In various microgrid applications, renewables combined with … [Read more...]
BIOFUEL: to burn or not to burn – Juncker’s palm oil conundrum
If you’d ask ordinary citizens, environmentalists, farmers, business leaders or scientists the answer would invariably be a resounding “of course we shouldn’t”. However, it increasingly looks as if the EU executive is about to give the green light for another decade of uncontrolled palm oil burning by Europe’s diesel fleet. Not because it’s good for the climate or because Europeans want it – 70% are against – but because the Commission is afraid … [Read more...]
EU ETS price contributing to gas demand
Whilst the top-level 40% 2030 emissions reduction target looks relatively safe, share from RES is definitely not. Carbon pricing, in its various forms, is working but, frankly, not in a predictable or even desirable way. A closer inspection of the market-driven EU ETS permit scheme illustrates how and why gas – especially American LNG – is going strong, putting the 32% share of final energy consumption from renewables in doubt. … [Read more...]
“Consuming less energy may act as disincentive for investment in renewables”
According to Anthony Patt, Professor of Climate Policy at the ETH Zürich in Switzerland, the less we spend on energy, the less attractive renewables can look to businesses and investment markets. Such remarkable insights fly in the face of received wisdom and defy logic. Patt claims his models show that doubling current energy efficiency improvement rates buys us only one extra year to hit the Paris targets. Really? - This is how Anthony … [Read more...]
A record year for big corporates buying renewable energy to run their operations
In the U.S. 2018 set a new record for total capacity of announced corporate renewable energy (RE) purchases. Facebook, AT&T, Walmart, ExxonMobil and Microsoft top the list. This unprecedented demand has been met with robust supply from renewable energy project developers as well as from utilities, which have demonstrated their willingness to work with these buyers in finding new solutions in the market. The Rocky Mountain Institute’s Lily … [Read more...]
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