Oil's rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oil prices will recover, but when they will. … [Read more...]
Italian market coupling launched, Europe closer to one copper plate
A further significant step towards an integrated European power market was taken recently as the Italian Borders Market Coupling was successfully launched. The Italian-Austrian, Italian-French and Italian-Slovenian borders have now been coupled with the Multi-Regional Coupling (MRC) instrument. Thanks to this coupling, 19 EU power markets - from Finland to Portugal and Slovenia – are now integrated into a single market platform. … [Read more...]
New Silk Roads and the “Chinese Dream” of a Brave New (Trade) World
Seen from the Chinese capital as the Year of the Sheep starts, the malaise affecting the West seems like a mirage in a galaxy far, far away. On the other hand, the China that surrounds you looks all too solid and nothing like the embattled nation you hear about in the Western media, with its falling industrial figures, its real estate bubble, and its looming environmental disasters. Prophecies of doom notwithstanding, as the dogs of austerity and … [Read more...]
Brussels goes green in key EU ETS and biofuels votes
The European Parliament voted in favour of a much-needed reform to the EU Emission Trading Scheme (ETS) and new rules to guard against indirect land-use change (ILUC) from biofuels on Tuesday, opening the door to deals with member states on both files before the summer. … [Read more...]
European demand for renewable energy surges in 2014
The European market for renewable energy, documented with Guarantees of Origin, increased by 26.5 % in 2014 compared to 2013. For the first time, the demand surpassed 300 TWh, according to statistics from the Association of Issuing Bodies (AIB). This is nearly one tenth of all electricity demand in Europe (ca. 3,300 TWh) and one third of all electricity from renewable sources in Europe (ca. 900 TWh). … [Read more...]
India’s energy and climate change challenge
The US and India have signed a deal to "enhance cooperation" on cutting emissions and investing in low carbon energy sources. The agreement is much weaker than the historic pact signed between the US and China last year. But there are a number of good reasons India is reluctant to take strong action to curb its emissions in the short term. Mat Hope of the Carbon Brief describes India's huge energy and climate challenge. … [Read more...]
Bulgaria – the EU’s next gasless gas hub (Or: is Bulgaria trying to become the new Ukraine?)
In response to the cancellation of South Stream, the Bulgarian government has launched a programme to turn Bulgaria into a “gas hub” for the region – an initiative welcomed by the European Commission and the United States.  Anca Elena Mihalache, Senior Analyst at the Romanian think tank Energy Policy Group, notes that Bulgaria has few sources of gas other than Russia and does not have a good record in creating liberalized energy markets. … [Read more...]
Russia’s oil and gas tax policies look increasingly eastward
Recent changes in the taxation of Russia’s oil and gas sector reflect both the country’s pivot eastward and the special treatment afforded to its state-controlled energy companies, says an analyst with research and consulting firm GlobalData. … [Read more...]
Want to avoid oil’s gloom? Turn to the sun, says Outsider Nick Hodge
While some celebrated shale oil as a "boom," Nick Hodge, founder and director of investment community the Outsider Club, derided it as a "Ponzi scheme." Today the shale sector quivers before the specter of falling oil prices, and the oil majors that have invested heavily in shale may be humbled. In this interview with The Energy Report, syndicated by Energy Post, Hodge argues that nuclear energy is about to reassert itself, and that solar power … [Read more...]
Eon’s transformation: how it will change the energy debate in Europe
With Eon’s historic decision to restructure we now for the first time will have  a large energy supplier not being pulled in two directions, but acting on the single imperative of bringing new energy solutions to customers. This removes one of the key obstacles that has been hindering the energy transition, writes Simon Skillings, former Director of Strategy and Policy at Eon UK and now independent consultant and associate at environmental think … [Read more...]
The vulnerability of our electric utility system to cyber attacks
As our electric utility system is moving from dumb and centralized to smart and decentralized, it is becoming increasingly vulnerable to cyber attacks. Are utility executives paying sufficient attention to these serious new risks? Energy expert Allan Hoffman, a former senior official at the U.S. Department of Energy, says the SONY hacking case should serve as a wake-up call to the energy industry. … [Read more...]
Oil price decline: no room for conspirators
Some observers claim the US and Saudi Arabia have made a secret deal to bring down oil prices. They are supposed to be doing this in particular to hurt Iran and Russia. But Friedbert PflĂĽger, Director of the European Centre for Energy and Resource Security (EUCERS), King’s College London, finds their arguments unconvincing. The oil market is too big to be manipulated by conspirators. … [Read more...]
UK “capacity market” is not a market – it’s state aid (£1 billion/year)
 The UK is the first country in the EU to have started a “capacity market”. Under this scheme, the UK government offers payments to electricity suppliers for making “backup capacity” available. The first auction, held in December for capacity in 2018/2019, has resulted in contracts for ÂŁ931 million for UK power generators. According to Mike Parr, Director of energy consultancy PWR, most of this money is wasted. He says the scheme is overgenerous … [Read more...]
Eon sells Italian coal and gas power plants
Eon, Germany’s largest energy company, has decided to sell its Italian coal and gas generation assets to Czech energy company EnergetickĂ˝ a PrĹŻmyslovĂ˝ Holding (EPH). … [Read more...]
UK capacity market: success for new gas, old coal
A new government policy designed to ensure the UK's future energy supply appears to have successfully incentivised companies to build over two gigawatts of new gas power, to sit alongside nine gigawatts of coal and biomass power. It should ensure the UK will have at least 48.6 gigawatts of fossil fuel power stations available in 2018. … [Read more...]
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