Britain’s extraordinary energy transition is in part down to increased energy efficiency: put simply, less electricity was needed, whatever the source. But coal is still essential during spikes in demand. Given coal generation is due to be phased out by 2025, the country will need to find alternative power sources to cope during extreme weather events. And that overall decline in electricity demand is sure to be reversed as more vehicles and … [Read more...]
Hy-Society – flexible hydrogen’s winning formula
Open the papers and you'll see that hydrogen-based transport, mobility and infrastructure are securing serious investment. In the past, the high cost of fuelling infrastructure - and "stupid" concept of using electricity to make hydrogen to make electricity - have stalled the advancement of this ultra-versatile clean fuel and energy storage solution. However, thanks to the availability of surplus power from RES and hydrogen's remarkable … [Read more...]
Low oil price alongside rise in renewables sees Oil & Gas slide to bottom of S&P 500
In December we reported that in 2018, the U.S. became the world's 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. 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. IEEFA’s director of … [Read more...]
Renewables losing market share in Africa
Alarming new data shows that coal, liquid fuels and gas are strengthening their grip on Africa’s power sector. Investments in renewables are too slow to keep pace with demand growth. With the ink still drying on Katowice's COP24 agreement, Terje Osmundsen's latest blog post makes for urgent reading... … [Read more...]
The Saudi Dilemma: To Cut Or Not To CutÂ
Following November's G20 meeting in Buenos Aires and the ensuing OPEC meeting earlier this month, the Kingdom of Saudi Arabia is still left scratching its head. 90% of the Kingdom's income comes from Oil. As US shale keeps piling on the pressure, some argue they have enough in the bank to fund higher production levels and even lower prices for another 10-years. But their Vision 2030 initiative, to radically diversify their economy, also requires … [Read more...]
Opposition to Nord Stream 2 ignores market fundamentals [Energy Post Weekly]
Criticism of the Nord Stream 2 project routinely misses the bigger picture of EU’s lower carbon targets, Groningen’s impending switch-off and Russia’s own dependence on natural gas exports to Europe. … [Read more...]
IEA: Future is electric and increasingly renewable
"The IEA is no longer the conservative bastion of oil it once was" writes Fereidoon Sioshansi. Distilling all 650 pages of their latest Outlook, he summarises how the pressing need to address climate change means the dwindling supremacy of oil is giving way to a growing role for electricity that will, amongst other things, cater for 1 billion EVs by 2040. Courtesy EEnergy Informer … [Read more...]
A Just Transition – or a transition, but only just?
At COP24 the Polish Presidency has issued a declaration for a "Just Transition". Jennifer Tollman of climate think-tank E3G says a Just Transition must make allies of those working in and dependent on the high-carbon economy by supporting them in the transition. They must not be left behind. But they warn that this support should not be an excuse for a “go slow” on the transition, as missing our global climate targets is a clear disaster. … [Read more...]
Investment risk: nuclear high, new load-following fossil fuel plants low
In the current 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, new load-following fossil fuel plants (especially natural gas) where continued wind/solar technology forcing actually provides substantial upside potential. CCS researcher Schalk … [Read more...]
Study says no way to decarbonise the gas sector by 2050
Gas industry advocates argue that expansion of gas infrastructure is justified because it will be possible to switch to low-carbon gases such as hydrogen and biomethane in future. But research by the International Council on Clean Transportation (ICCT) predicts that biomethane production will remain modest, even with massive subsidies. … [Read more...]
Coal can’t compete – and its true costs are even higher than they appear
In Texas, income from electricity sales does not even cover the direct costs of coal power plants. But their hidden costs are much higher, explains Daniel Cohen of Rice University in Houston. Courtesy The Conversation. … [Read more...]
Taxing carbon may sound like a good idea but does it work?
Exxon Mobil is financing lobbying for a US plan to tax oil, gas and coal companies for the carbon they emit. But do carbon taxes work to reduce greenhouse gas emissions? The evidence is underwhelming and support for the proposal is not down to altruism, says Paul Griffin of the University of California, Davis. In his view, what would impact climate change is for energy companies to disclose their carbon risks and footprints. … [Read more...]
Coal’s cost increase leaves no cause for celebration
Coal’s carbon impact is clear from the fact that it produces 20% of electricity and 65% of EU power sector emissions. But even with EU coal prices at a five-year high, we are unlikely to see short-term European coal emissions reductions. Emissions Trading System prices would have to double to push coal out of the EU electricity mix, says Paul Deane of University College Cork's Environmental Research Institute. … [Read more...]
US shale has a glaring problem
With oil prices high and production booming, 2018 was supposed to be a year of profits for US shale oil and gas companies. A report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute shows that hasn’t happened. As 3Q 2018 results start coming in, investors around the world should be considering if there is a fundamental problem with the fracking business model, says Nick Cunningham of Oilprice.com. … [Read more...]
A blacklist of the world’s top 120 coal plant developers
Nearly 1,400 new coal power plant developments are planned or under construction in 59 countries that would add 33% to coal power capacity. But the risks of investing in such projects are growing, and many banks and investors are looking to move away from coal. To help them, non-governmental organisation Urgewald has created a database of the world’s top 120 coal plant developers, says Kathy Hipple of the Institute for Energy Economics and … [Read more...]
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