With a string of new investments and acquisitions in the past year (you can find a unique overview further on in this article!), Shell has quietly stepped up the pace of its transition from an oil and gas company into an energy company. “We are further along than people realize”, says Mark Gainsborough, Executive Vice-President of Shell New Energies, in an exclusive interview with Energy Post. According to Gainsborough, there is a “shift in … [Read more...]
Poland’s largest utility, PGE, faced with growing risks from transition
The financial stability of PGE, Poland’s largest utility, could be undermined if it sticks with its current fossil fuel-heavy generation profile, writes Gerard Wynn. In a new report for the Institute for Energy Economics and Financial Analysis (IEEFA), Wynn concludes that the company could be hit hard by increasing carbon prices and tougher air pollution rules if it does not shift away from coal. … [Read more...]
How gas and oil companies are starting to look like the Yellow Pages (remember those?)
The parallels between what happened to the Yellow Pages business and what’s happening to the fossil fuel industry today are striking, writes Kathy Hipple, financial analyst at IEEFA (Institute for Energy Economics and Financial Analysis). The oil and gas industry may not collapse as rapidly as the Yellow Pages did, it will go the way of the shrinking coal industry unless it learns from the failure of the Yellow Pages to adapt. Courtesy: IEEFA … [Read more...]
Uneconomic coal could be squeezed out of European Union power markets by 2030
Coal’s time is running out in Europe: deteriorating economics and stronger climate policies will soon make coal uneconomic, writes Silvio Marcacci of think tank Energy Innovation. Many European countries have already set an end date for coal power, utilities and investors are shifting away from it. The question is not if coal will lose, but when, and how well-managed its exit will be. … [Read more...]
Why there is so much aggressive bidding at renewables auctions – and what the risks are
Renewable energy auctions have seen very low prices in many parts of the world. Why do auctions seem to be so effective in driving down costs – and what are the risks? Ana Amazo-Blanco, Silvana Tiedemann of Navigant[1], and Dr. Stephen Tay and Monika Bieri of SERIS looked at a solar PV rooftop auction in Singapore and an offshore wind auction in Germany to discover the key factors behind the bids and suggest how project developers can make sure … [Read more...]
Has the European Commission tamed the Russian gas bear?
The European Commission’s decision on 24 May to impose “binding obligations on Gazprom to enable free flow of gas at competitive prices” – but no fine – is seen by some observers as a victory for Gazprom. Others take a more positive view. Meanwhile, a new report from IHS Markit claims Europe is on the point of becoming fully integrated into the global gas market, making worries about dependence on Russian gas – and Nord Stream 2 – unnecessary. … [Read more...]
A common goal for all sustainability advocates
Nothing is better for fossil fuel interests than current government policies supporting wind, solar and electric cars, writes independent researcher Schalk Cloete. These green technologies won't reduce fossil fuel consumption sufficiently for a long time to come, so the fossil fuel sector will be able to survive that much longer. In the third and last part of a series on green technology-forcing, Cloete calls on all sustainability advocates to … [Read more...]
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