Low emission hydrogen is expected to play an important role in global decarbonisation, though costs today are very high and must come down. Economies of scale will help, but production is yet to pick up pace as there are inadequate ādemand signalsā which result in financial risks for project developers. Kapil Narula and Luciano Caratori of Climate Champions Team, Laurent Antoni at IPHE, and Nigel Topping (former UN Climate Change High-Level … [Read more...]
EU states agree deal on electricity market to protect consumers from price volatility, boost cheap renewable power
On Tuesday EU member states finally agreed on how to reform the bloc's electricity market after long months of difficult negotiations. The introduction of long-term contracts, particularly contracts for difference (CfDs), should stabilise prices for consumers and give certainty to investors in new generation. But the big concern had been how the state support implicit in CfDs might be used to bias the playing field in favour of nuclear and coal, … [Read more...]
Electricity Market Design – creating the stimulus for competitive Offshore Wind within the internal energy market
Ahead of the upcoming discussion inĀ Brussels (September 18, 15:00, Polish Embassy REGISTER HERE) on how to stimulate renewable investment, see below for a reminder of what was discussed at our conference before the summer. This time around, following an open address byĀ Wanda Buk, VP Regulatory Affairs at PGE, PGE Baltica's CEO,Ā Arkadiusz SeksciÅskiĀ will be joined by Thor-Sten Vertmann,Ā Electricity Market Design (EMD) expert within Ms Kadri … [Read more...]
How to tax renewable energy firms for windfall profits from high wholesale electricity prices
Should windfall taxes be imposed on renewable energy firms that have benefitted from the current high electricity prices caused by the increases in oil, gas and coal prices triggered by Russiaās invasion of Ukraine? If so, how, and how much? The IEA has conducted a study of the EU to try to uncover who has (and hasnāt) made extraordinary profits, and how much. Up front they say this is difficult to do as the majority of installed renewable … [Read more...]
EU electricity market reform: completing, not dismantling, the integration is the answer
Leonardo Meeus at the Florence School of Regulation explains why electricity market reform in the EU must be about completing the process of integration, not unwinding it. He breaks down his argument into five categories ā Electricity Markets, Contracts for Difference (CfD) and Power Purchase Agreements (PPA), Capacity Remuneration Mechanisms (CRM), Energy Communities, and Demand-side Flexibility ā and with each he defines their purpose, looks at … [Read more...]
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