Global climate negotiations have hardly led to tangible climate policy tools over the last five years. The latest UN Climate Summit in Lima was no exception. By contrast, both businesses and local and regional authorities are developing plenty of new initiatives. Could the crucial 2015 conference in Paris take a cue from these alternatives? And to what extent do business initiatives need a supranational climate deal? Rolf de Vos from energy … [Read more...]
viEUws VIDEO: Top 5 energy issues for the Latvian EU Presidency
In this special briefing for viEUws.eu, energy journalist Hughes Belin picks out the top 5 energy issues that will be discussed by the European institutions under the Latvian Presidency of the Council of the European Union. … [Read more...]
South Stream Is Dead. Long Live South Stream
South Stream is not dead – rather it has morphed into a new project which is part of a complex commercial power play on the part of Russia and Turkey, writes Anca Elena Mihalache, Senior Analyst with the Romanian think tank Energy Policy Group. According to Mihalache, the new South Stream, if it happens, will offer new opportunities to Europe, but also new threats. In particular, the EU will see its diversification strategy come under pressure … [Read more...]
Scientists: large fossil reserves must stay in ground
Christophe McGlade and Paul Ekins of the Institute for Sustainable Resources at University College London have published a paper in the scientific journal Nature presenting their research on "the carbon bubble" aka as "stranded assets". They come to alarming conclusions for fossil fuel producers: no new exploration should be undertaken anymore if climate change is to be contained. … [Read more...]
UK capacity market: success for new gas, old coal
A new government policy designed to ensure the UK's future energy supply appears to have successfully incentivised companies to build over two gigawatts of new gas power, to sit alongside nine gigawatts of coal and biomass power. It should ensure the UK will have at least 48.6 gigawatts of fossil fuel power stations available in 2018. … [Read more...]
The EU readies to overhaul its energy governance
The reach and power of the EU and its institutions are up for serious debate as Europe prepares to enter into an “Energy Union”. The European Commission plans to publish its vision for such a Union by the end of February. But already member states and Members of the European Parliament are weighing in with their own ideas of what Europe should prioritise – and who should be in charge. Sonja van Renssen reports from Brussels. … [Read more...]
What is the ideal oil price for the energy transition?
Does the energy transition benefit from low or high oil prices? Proponents of a swift energy transition have debated this question for a long time. Most believe high oil prices are beneficial, because they make alternatives more competitive. But high oil prices also lead to huge profits for fossil fuel businesses, while low prices make the more costly (and often dirtiest) projects unprofitable. According to Rick Bosman and Derk Loorbach of the … [Read more...]
Why oil price crash is good news for climate, and clean energy
According to analysts from UK investment bank HSBC, the low oil price is on balance good for the climate. French private investment firm Kepler Chevreux goes a step further and sees the oil price collapse as one of a number of signals indicating a global energy transition is underway. "The debate over fossil fuels now touches not only on the climate, but on global financial stability." Giles Parkinson of Reneweconomy.com.au has the story. … [Read more...]
2015: an energy year in which everything gets connected?
It is often said that there are major trade-offs between energy security, equity and sustainability. But what if this is a misconception? Energy Post editor Karel Beckman argues that by creating a new sustainable energy system we can at the same time advance energy security and reduce energy poverty. … [Read more...]
Emission trading now a major new source of low-carbon finance in the EU – but will it stay that way?
Last year for the first time many of the CO2 allowances in the EU Emission Trading Scheme (ETS) were auctioned rather than handed out for free. Surprisingly perhaps, the EU member states used much more of the ETS revenues for low-carbon development than EU law suggests they should. This suggests that the ETS could become a major source of low-carbon finance in the future, writes Emil Dimantchev, senior analyst at Thomson Reuters. But Dimantchev … [Read more...]
EU issues work plan for 2015 – with pared down priorities
The number one priority for Team Juncker is a €315-billion investment plan for Europe. Second, is “better regulation”. First Vice-President Frans Timmermans presented the European Commission’s 2015 work programme to MEPs in Strasbourg on 16 December. Energy Post looks at the new initiatives, scrapped initiatives and those that hang in the balance for energy and climate policy. … [Read more...]
Ukraine’s coal power plants need a planned phase out, not CCS
There are discussions in Ukraine about equipping coal-fired power plants with carbon capture and storage (CCS) to make them conform to EU climate rules. But according to Oleg Savitsky, climate and energy campaigner at the National Ecological Center of Ukraine, this is not a good idea. Ukraine has a vast overcapacity of obsolete coal power plants that should be closed down, not kept alive. That would also help the country get rid of the massive … [Read more...]
Energy security: Brussels, stop dreaming about the market and confront Russia and China geopolitically
European leaders are under the delusion that they can solve Europe’s security of energy supply problem by creating a strong internal market, which they believe the rest of the world will be eager to serve. In reality, reducing dependence on Russia will require long-term political commitment, real power play and engagement with countries in the Middle East and North Africa (MENA), write Cyril Widdershoven of energy research institute TNO and … [Read more...]
Maria van der Hoeven, IEA: Use cheap oil to put a price on carbon
With the drop in oil prices "delivering a shot of economic stimulus to consumers around the world", policymakers have a "once-in-a-generation" chance to take actions to cut our reliance on fossil fuels, writes Maria van der Hoeven, Executive Director of the International Energy Agency (IEA). She urges policymakers in developed countries to use the drop in oil prices to put a price on carbon. … [Read more...]
What came out of Lima
Hundreds of country negotiating teams have been meeting in Lima, Peru over the past two weeks for the latest round of international climate negotiations. Mat Hope of The Carbon Brief gives an excellent overview of the results and discusses next steps. Overall conclusion: international climate negotiations have taken a step forward, but only a very small step. … [Read more...]
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