The heated debates over the potential inclusion of nuclear power and natural gas in the EU taxonomy has again exposed the different interests of EU nations. Simon Göss at cr.hub, writing for Energy Brainpool, explains what parameters the EU taxonomy controls, what conditions are attached should the two technologies be classified as sustainable, as well as summarising those national interests and constraints. Critics say neither should be … [Read more...]
New York City to stop new buildings connecting to the Gas network
New York City is the U.S.’s largest metropolis, over twice the size of second spot Los Angeles, and is still growing. It has just passed a bill that effectively stops new buildings from hooking up to the gas network. The significance is not simply because of NYC’s global prominence, but because it gets very cold in winter with average temperatures just above freezing point. The move is a major win for the electrification of buildings. The … [Read more...]
U.S. shale production is rising. But by how much more, and how fast?
The dramatic increase in gas and electricity prices worldwide has raised concerns about energy security. It why U.S. shale production is rising. But by how much more, and how fast? Ben Cahill at CSIS looks at lessons learned over the last ten years by the sector to understand the drivers. Previously, shale firms grew so fast that many investors lost a lot of money. Then, the 2020 oil shock imposed discipline and firms preserved cash, but that … [Read more...]
Gas Crunch: time to factor in volatility and externalities to reveal its true costs
The current gas price shock (and any future ones) raises the question: if we had invested more in renewables, efficiency, buildings renovation, and green gases, would we be actually saving money instead of losing it? Looking at the EU, Dolf Gielen, Michael Taylor and Barbara Jinks at IRENA urge governments to do something they’ve not done before and factor in the negative impacts of volatile fossil fuel prices. Moreover, they should calculate the … [Read more...]
The Gas Crunch: EU and China can share lessons on Energy Security and Renewables Integration
With adversity comes opportunity. The global gas crunch has hurt countries around the world but has also made them appreciate their common concerns. That has provoked policy-makers to take a serious look at current and future energy security policies. In the EU the competitive gas markets, enabled by short-term spot markets, has reminded us of the value of long-term contracts when prices are volatile and rising. Meanwhile, China’s … [Read more...]
Turkey: when electricity price ceilings amplify the pain of gas spikes and currency falls
Turkey’s rules for an electricity price ceiling may be well intentioned, but they are creating a price ladder that is causing those prices to rise too fast and too much, say Fuat OÄźuz at Ankara Yıldırım Beyazit University and ÇaÄźrı Peker at the Energy Market Regulatory Authority, Turkey. When market participants are allowed to sell and buy electricity at distorted prices the effects of external shocks are amplified artificially. The main shocks … [Read more...]
Yamal-Europe gas pipeline shows how EU competition rules backfire during a shortage
Europe’s gas deficit has concentrated minds on the Yamal-Europe gas pipeline which runs from Russia to Germany via Belarus and Poland, built in the 1990s. Andrei Belyi at the University of Eastern Finland explains how the rules for booking capacity worked well during times when gas was in plentiful supply, but now works against Europe’s gas security since the shortages emerged in September. The rules are designed to maximise competition between … [Read more...]
Using captured Methane to make all the world’s fishmeal: a profitable revenue stream?
If the cost of capturing methane (or CO2, or anything) can be folded into the cost of making something that can be sold at a profit, methane capture will take off. Rob Jordan at the Stanford Woods Institute for the Environment explains how research there shows captured methane can be turned into fishmeal at the same price as commercial fishmeal. In some cases it can be done much more cheaply. Commercial fishmeal, used to feed farmed fish, is … [Read more...]
How to incentivise “differentiated” low-methane-emissions Gas
Cutting methane emissions from gas production is a major part of the world’s strategy to limit temperature rises. The IEA says we need a 77% drop in methane emissions by 2030. The question is how to target and enact globally the required incentives and regulations that favour “differentiated” low-methane-emissions gas. Regulating international trade sounds like a great starting point, as an importer like the EU can twist the arm of anyone who … [Read more...]
Fulfilling the Global Methane Pledge: “polluter pays”, more electrification, less gas
At COP26 the U.S. and the EU led a global pledge to slash methane emission by 30% by 2030. Methane makes up at least one-quarter of all greenhouse gases, and is more than 80 times more damaging than CO2 over a 20-year period. Success in cutting these emissions would be a major step towards meeting our 1.5°C goals. But far from declining, 2020 saw methane emissions grow at the fastest rate in 40 years. The increased use of natural gas (mostly made … [Read more...]
PET: a toolkit to make existing Coal plants more efficient
Many nations are struggling to phase out coal. Some, like China, are heavily dependent on it, and have more plants in the pipeline to ensure energy security and keep prices low. In other words, a lot of coal will remain in operation for the medium term. Given that, it makes sense to make them more efficient while they are in use. Daisy Chi at ECECP looks at a new set of tools – the Plant Efficiency Toolbox (PET) - that can analyse and optimise a … [Read more...]
Coal phase-out by 21 nations only accounts for 3.2% of global power. What about the others?
The 21 nations committed to coal phase-out only account for 3.2% of global electricity generation. Three - Belgium, Austria and Sweden – have already done so. The rest hope to by different dates, ranging to 2040. Asia is where the main problem is, and their transition challenges are well known: growing economies, and energy security. Carlos Fernández Alvarez at the IEA spells out their recommendations, and references case studies in Canada, the … [Read more...]
China’s energy crisis: the problems with coal exit, emissions targets, and a command economy
China is also suffering from an energy crisis. Major industries have had to restrict production, and reports abound of candle-lit dinners, traffic lights failing and people getting trapped in elevators. Its effect has also been global, with Apple, Tesla, Microsoft and Dell saying it’s hitting their supply chains. As Jun Du at Aston University explains, China’s drive to cut coal has collided with post-Covid resurgent demand and an unusually hot … [Read more...]
Don’t let high gas prices stop the EU ETS from doing its real job
The EU ETS carbon price reached a high of over €60 per tonne in September. Some are arguing that its role in the current gas price crisis is a reason why it should be reined in. But Milan Elkerbout at CEPS Policy Insights explains that the EUA (European Union Allowance) has multiple purposes. It is an incentive to invest in low-carbon solutions such as renewables, efficiencies and new methods. The sooner we pass the cost hurdle of integrating … [Read more...]
Gas crunch: market and policy causes, and lessons learned
Andrei Belyi at the University of Eastern Finland says there are three main causes behind the huge rise in European gas prices. Everyone already understands that the reversal of the previous gas glut that gave us such low prices has been caused by a decline in European gas production, LNG imports and Russian gas deliveries. Added to that is the utilities’ reliance on spot contracts rather than termed contracts – great when prices were low – that … [Read more...]
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