In December we reported that in 2018, theĀ U.S.Ā became theĀ world'sĀ leading oil producer for the first time since the 1970s. It is tipped to produce 12 million barrels of oil per day this year (up approximately 10% year on year), and over two-thirds of it will come from shale producers.Ā But the consequent squeeze on the oil price meant U.S. Oil & Gas firms ended the second year in a row at the bottom of the stock market. IEEFAās director of … [Read more...]
The risks related to onshore wind power investment
Bans on subsidies (in some countries) and reduced costs have hit total investment in onshore wind. Meanwhile, market share continues to grow across the EU28. Wind energy now accounts for almost 20% of installed capacity for power generation which makes researcher Schalk Cloete'sĀ sobering analysis of risks for onshore wind well worth reading. Following up on hisĀ previous article, he examines current assumptions and argues that the discount rate … [Read more...]
How EASE is mapping out the path towards large-scale deployment of energy storage technologies in Europe
The Clean Energy for All Europeans Package marked a turning point for energy storage in Europe, says Marine Delhommeau, policy officer for the European Association for Storage of Energy (EASE). Energy storage is now seen as one of the key flexibility instruments required in the future energy system. Despite this, the industry faces challenges in deploying at scale. A new roadmap aims to solve the problem. … [Read more...]
Investment risk: nuclear high, new load-following fossil fuel plants low
In the currentĀ policy environment many energy technologies can appear attractive with the right set of assumptions: discounted clean energy technologies (wind, solar and nuclear) where the discount rate is heavily influenced by risk (see graph) and, perhaps surprisingly,Ā new load-following fossil fuel plants (especially natural gas) where continued wind/solar technology forcing actually provides substantial upside potential.Ā CCS researcher Schalk … [Read more...]
Time to re-think Britainās capacity market
Answering the call for opinions for the UK capacity market review, Gerard Wynn of the Institute for Energy Economics and Financial Analysis (IEEFA) says its time for a rethink. Since its introduction to ensure energy security, 75% of payments have gone to existing coal, gas and nuclear plants, and only 10% to modern assets. By continuing with market reforms and building interconnections with Europe, the UK can have an efficient, market-led … [Read more...]
Energy transition: The greatest switch capital markets have ever seen
Even the most engaged energy pundits tend to gloss over what may be one of the biggest changes of all in a clean energy transition: how we pay for and finance the energy we use, and what that may mean for the investors, industries and companies that provide that energy. David Nelson of Climate Policy Initiative explains why investment strategies, financial markets and business models also need to transform. … [Read more...]
Brexit: What it means for UK-EU energy trade
The UK says it wants to keep or even expand its close ties with the European Union energy market after Brexit, but it might not get what it wants if the country leaves the EU with no deal in 2019. Gas and electricity will continue to be traded between the two, but the risks of shortages and higher costs for the UK and Ireland will grow and increase over time, explains Sara Stefanini of Climate Home News. … [Read more...]
Eurelectric warns of āreal and severeā risks from no-deal brexit
With talks over the UKās divorce deal with the EU having stalled over the weekend, the pan-European electricity industry association Eurelectric has taken the unusual step of calling for a rapid and successful end to negotiations. What follows is an open letter from Eurelectricās secretary general, Kristian Ruby, to UK Prime Minister Theresa May and European Chief Negotiator Michel Barnier. Ā … [Read more...]
Russiaās evolving gas relationship with the European Union
Europe has long had a touchy relationship with Russia, with Europeās dependence on Russian gas being a potentially major source of concern. But away from the rhetoric, the dependence is growing, and the question is how to diffuse tensions. Keeping Ukraine in the picture could be a key move, argues Marco Siddi, senior research fellow with the European Union Research Programme. Courtesy of the Finnish Institute of International Affairs. … [Read more...]
Electricityās future: mostly behind the meter
The electricity sector has traditionally taken good care of getting energy from power plants to customer premises. But with the arrival of distributed generation and storage, there is a universe of possibilities on the other side of the meter, writes independent energy expert Fereidoon Sioshansi. āWhile the industry counts the billions it has invested in assets upstream of the meter, there is probably as much if not more on the customer side.ā … [Read more...]
Ukraine has made great progress in reforming the gas sector ā but its fate still hangs in the balance
Natural gas still plays an outsized role in Ukraineās energy mix ā and it will continue to do so for many decades to come, writes Jakub Kucera, economic analyst at RSJ, a Prague-based investment company. Kucera explains the many formidable challenges Ukraine is facing in the gas sector and their profound impact on the European energy market. He concludes that Ukraine has made admirable progress in cleaning up the gas sector. Unfortunately, … [Read more...]
How rapidly can we transition to 100% renewable electricity?
Science tells us that, to avoid devastating climate change, we mustĀ rapidlyĀ cut greenhouse gas emissions to zero. How fast is possible, asks Mark Diesendorf Ā of theĀ Cooperative Research Centre for Low CarbonĀ at the University of New South Wales (UNSW) in Australia.Ā He believes the sceptics may be wrong. … [Read more...]
Blockchain technology ā a threat to distribution network operators?
Network operators should get involved soon in blockchain technology. If they miss the digital revolution, it will threaten their business model in the longer term and they could end up becoming pure network asset owners without operational responsibilities, writes Marius Buchmann of Jacobs University. Courtesy of Buchmannās blog Enerquire. … [Read more...]
The ice beneath the EU-China climate bonhomie
When it comes to clean technology, German chancellor Angela Merkel views China no longer as a developing country but a competitor, writes Karl Mathiesen of Climate Home News. From a European perspective, China is joining the club of industrialised countries, competing for their markets, and should be treated as such. Courtesy Climate Home News. … [Read more...]
Trying to make sense of the RWE/EON utility dealā¦
There is economic and financial market rationale behind the recent deal between E.ON. and RWE, writes financial energy specialist Gerard Reid. From a strategic perspective, however, the decision will impact customers negatively, and will be bad for the long-term sustainability of both companies, Reid argues. Courtesy Energy and Carbon blog. … [Read more...]
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