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...]
viEUws VIDEO: Brussels Briefing on Energy: All you need to know for December 2014
In this Brussels Briefing on Energy for viEUws.eu, leading journalist Hughes Belin provides an overview of the latest EU energy policy developments: … [Read more...]
EXCLUSIVE – new Vattenfall CEO Magnus Hall: “What is true for Eon, is pretty much true for us”
Vattenfall’s CEO Magnus Hall likens the selling of its lignite operations in Germany to Eon’s recent split in two. “The problem we needed to solve was the CO2 issue,” says Hall in an exclusive interview with Energy Post. The new chief of the Swedish state-owned company has abandoned the idea of splitting up the company geographically. Its future lies in sustainability, says Hall, e.g. in offshore wind. He notes the European market is distorted by … [Read more...]
Putin’s gas gambit: what’s next after South Stream
The Russian cancellation of South Stream is not an end, but a beginning: a new start of Russian gas games in Europe and beyond, writes Agata Łoskot-Strachota of the Centre for Eastern Studies (OSW) in Poland. She discusses three likely scenarios for what will happen after South Stream and notes that this is a chance for Russia and Europe to look afresh at their bilateral gas relations and new pipeline options. But, she adds, it also makes it … [Read more...]
Cancellation of South Stream is not retaliation, but a business decision
The decision to stop the South Stream project does not represent a fundamental shift in Russian energy policy, writes Friedbert Pflüger, Director of the European Centre for Energy and Resource Security (EUCERS) at King‘s College London. It is not a political retaliation or a “counter-sanction”, but above all a business decision: South Stream had become far too expensive in the current stagnant European gas market. … [Read more...]
Gazprom CEO Alexei Miller: “This is the beginning of the end of Gazprom’s business model in Europe”
Following last week’s announcement on the South Stream project cancellation, last Saturday (6/12) Gazprom CEO Alexei Miller gave an extensive interview to a major Russian TV channel, Russia 24. In his interview Mr Miller explains the reasons for abandoning South Stream, outlines Gazprom’s prospects of the new gas delivery route through Turkey and touches upon the project’s financial aspects. … [Read more...]
Lima: a trillion reasons why climate talks may still fail
Hopes are high at the UN Climate Conference that has started this week in Lima, Peru. There are many signs that a turning point has been reached, writes Giles Parkinson of Reneweconomy.com. But the hurdle is still high: to meet the 2C target, two-thirds of known fossil fuel reserves have to stay in the ground, costing the oil and coal sector $1 trillion a year in lost revenue. … [Read more...]
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