The market on its own cannot be relied upon to deliver secure electricity and gas supplies, says Klaus Schäfer, CEO of Eon-spin-off Uniper, in an exclusive interview with Energy Post. According to Schäfer, it will become “dramatically more difficult” to balance the power market as the share of renewables increases. He also sees the gas market becoming “more and more complex” and argues policymakers should establish minimum requirements for gas … [Read more...]
Donald Trump’s China First, Russia Second, America Third foreign policy
By letting his foreign policy be governed by a simplistic “America First” principle, Donald Trump is achieving the exact opposite of what he intends. His way of putting America First, is enabling China and Russia to position themselves as the paramount nations on the world stage, writes energy and foreign policy specialist Michael Klare. Courtesy of Tomdispatch. … [Read more...]
The $200 billion fossil fuel subsidy you’ve never heard of
In the United States, the official “social cost of carbon” (SCC) enters into many rules and regulations, such as fuel economy standards. According to Amir Jina, the SCC, which currently is calculated to be $36 per ton, shows that the U.S. fossil fuel sector gets $200 billion a year in hidden subsidies. The government should use the SCC to increase the carbon price, argues Jina, but the Trump administration is hardly inclined to do so. First … [Read more...]
Energy Union: Delivery pending
Electricity market design, renewable energies, energy efficiency – the EU Commission’s recent “Winter Package” touches upon some of the core themes of the envisioned “Energy Union”. But finding agreement on all these dossiers will be difficult in this politically turbulent year, writes Severin Fischer of the Center for Security Studies (CSS) at ETH Zurich. According to Fischer, five aspects deserve closer attention. Courtesy Policy Perspectives. … [Read more...]
Can UK power market reform replace the capacity market?
The UK has just completed another auction for a large amount of backup power capacity. The country’s capacity market scheme will cost ratepayers many billions of pounds. Independent consultant Gerard Wynn wonders if they are really necessary. … [Read more...]
New President, new electric grid?
As the new Trump administration considers measures to enhance roads and bridges, they should also focus on America’s ageing electricity infrastructure, writes Dick Munson of the Environmental Defense Fund (EDF). The U.S. electricity system is shockingly unreliable compared to every other developed nation, notes Munson, and the regulation of the industry is “byzantine”. By focusing on investment, efficiency, and markets, the U.S. could have a … [Read more...]
MEPs will fight Brexit deal that lets the UK become an offshore pollution haven
The European Parliament has indicated it will not accept a Brexit deal that will let the UK have lower environmental standards than the EU, writes Charlotte Burns (@EUrefEnv), Senior Lecturer Environmental Policy at the University of York. If only because this would put EU manufacturers and farmers at a competitive disadvantage. Courtesy of The Conversation. … [Read more...]
Can emissions trading produce adequate carbon prices? That’s the question
Prices under emissions trading schemes have been low, unlike some carbon taxes. This undermines confidence in this key climate instrument, writes energy and climate change economist Adam Whitmore. The EU should take the lead in demonstrating that emissions trading can work, or climate change efforts will suffer. … [Read more...]
Trump administration needs to be watched closely
The first actions of the new Trump administration raise grave concerns, both with regard to their energy policies and their policies in general, writes Allan R. Hoffman, author of the blog Thoughts of a Lapsed Physicist and formerly with the U.S. Department of Energy. We need to be vigilant to safeguard our democratic system. … [Read more...]
Emissions trading: Time to make it work
There is broad consensus that carbon pricing should be one of the key measures to deal with global warming, yet there has been no effective emission trading scheme anywhere in the world, writes Stig Schjolset, who this week is leaving his job as head of carbon analysis at Thomson Reuters Point Carbon to become special advisor on climate policy and green growth to the Norwegian government. According to Schjolset this is not because there is … [Read more...]
States, not Trump, will decide future of U.S. electricity sector
The new US president Donald Trump has quickly removed any reference to former president Obama’s Climate Action Plan on the website of the White House. It is not clear yet whether Trump will be able to dismantle the Clean Power Plan, which was part of Obama’s wider climate action program. According to Frederick Weston of the Regulatory Assistance Project (RAP) policies in the electricity sector have always been determined by the US States rather … [Read more...]
What a CO2 price floor can (and cannot) do for German climate goals
Germany can meet its climate goals for the energy sector if it introduces a CO2-price floor of between €50 and €75 per ton, write Fabian Huneke, Carlos Perez Linkenheil and Simon Göß from the Berlin-based independent energy market specialist Energy Brainpool. However, if neighbouring countries don’t take similar measures, more than half of the reduced CO2- emissions will be shifted abroad, note the authors. As long as power markets are … [Read more...]
Gazprom plays ball: the depoliticization of the European gas market
Gazprom’s gas supplies to Europe and Turkey reached an all-time record in 2016. This might suggest Europe is becoming more dependent on Gazprom, but according to Danila Bochkarev, Senior Fellow at the EastWest Institute, the Russian company gained market share by playing by the rules of the market. The European gas market is finally becoming depoliticized. … [Read more...]
U.S. energy under Trump
Today’s presidential inauguration will trigger the biggest policy and regulatory shift for the US energy industry in at least ten years, writes Geoffrey Styles, Managing Director of independent US-based consultancy GSW Strategy Group. That’s how long it has been since energy policy was set by a Republican president and Congress. Donald Trump is a different kind of Republican, though, and his goal does not seem to be a return to scarcity and high … [Read more...]
The geopolitics of energy: renewables are not in the race yet
At the Atlantic Council’s Global Energy Forum in Abu Dhabi on 12-13 January, oil executives, Middle Eastern energy ministers and experts in the geopolitics of energy came together to discuss the geopolitical implications of “the energy transformation”. Yet no one presented a vision of what a new global order, based on renewable energy, would look like, writes Karel Beckman, Energy Post’s editor-in-chief. The oil players all embrace renewable … [Read more...]
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