Amory Lovins, the founder of the famous Rocky Mountain Institute in Colorado, has written a book in which he presents an energy future without coal, oil or nuclear power. Yet he insists his is not a green or left-wing vision. On the contrary, it will save money and create wealth. “The energy transformation is the greatest business opportunity of our time.” … [Read more...]
Rosatom signs contract to build nuclear plant for Fennovoima in Finland
Interview with Chairman Pekka Ottavainen: “It was a very simple choice”. The Finnish company Fennovoima has signed a contract with Rosatom to build a 1200 MW greenfield nuclear power plant, Hanhikivi I, in Pyhäjoki in northern Finland. It is the first time in the post-Soviet era that the Russian company will be building a new nuclear power station in the EU. The plant will cost roughly €6 billion and will deliver electricity at “no more than … [Read more...]
2014: the year of energy storage
Energy storage: it’s no longer a problem, it’s become a huge business opportunity. As one market watcher recently put it: “The energy storage industry is in the early stages of what will become a giant global market”. As with any new market, however, it is difficult for participants to find reliable information. Fortunately, there is now the interactive International Energy Storage Database (IESDB) of the US Department of Energy (DoE), which … [Read more...]
What if one third of Australians choose to go off-grid?
The Australian national science agency CSIRO has undertaken a study into how the electricity grid in Australia could develop over the coming decades. Giles Parkinson, editor-in-chief of the Australian website RenewEconomy, discusses the four scenarios that SCIRO explores: “leaving-the-grid”, in which one-third of Australian consumers go off-grid; “prosumer” , which is similar but has active utility companies that lead the transition; “renewables … [Read more...]
EBRD will not finance coal-fired power plants anymore
The European Bank for Reconstruction and Development (EBRD) has adopted a new strategy that will guide its investments in the energy and natural resources sector for the next five years. In this strategy the Bank – already the largest investor in renewable energy and energy efficiency projects in its region of operations – in its own words "sets out a commitment to helping its countries of operations move toward a sustainable energy … [Read more...]
Britain converts its largest coal-fired power station in renewable energy producer plus major CCS project
Britain’s largest coal-fired power station is set to become one of Europe’s biggest renewable electricity generators today, with the potential for new future generation on the site to be based on truly clean coal. That has been announced by the Department of Energy Climate and Change (DECC) on 9 December. Energy and Climate Change Secretary Edward Davey opened the Drax coal-to-biomass conversion plant, and announced the Government was awarding … [Read more...]
UK electricity market: financiers are holding the government over a barrel
The UK Department of Energy & Climate Change (DECC) published new “strike prices” for renewable energy on 4 December, claiming these will lead to additional investment of ÂŁ40 billion in renewable electricity generation up to 2020. But according to Michael Knowles, Member of the Institution of Mechanical Engineers, the support scheme is too generous for suppliers and DECC should do much more to drive costs of renewables down. … [Read more...]
“Integrated EU market + ETS = best way to decarbonisation”
The European Climate Foundation (ECF) has released a new report, From Roadmaps to Reality, which shows how the current EU energy framework can be improved to drive the decarbonisation of the power sector in Europe. From Roadmaps To Reality, the latest report in the ECF’s “Roadmap 2050” series, finds that a fully integrated Internal Energy Market in combination with a functioning Emissions Trading System is the most cost-effective and … [Read more...]
Interview with Johannes Teyssen, CEO of Eon: “Renewables can become biggest without subsidies”
Dr Johannes Teyssen, CEO of Eon and President of Eurelectric, doesn’t beat about the bush: in an exclusive interview with Energy Post, he says that Europe needs a single climate target for 2030 of “between 40% and 50%” emission reduction. At the same time all energy subsidies and “green levies” should go. Renewables “have all the chance in the world to take the biggest chunk of the market” even without subsidies. The European Commission should … [Read more...]
The UK energy confusion: good policies, shame about the politics
To outside observers, UK energy policy must seem to be hopelessly confused and the energy sector in a mess. Actually, the problem is not so much the policies, writes Stephen Tindale, associate fellow at the Centre for European Reform. They make a lot of sense and may lead the country to a secure and low-carbon energy future. The problem is the politics – populist proposals create confusion and may undo the good work that is being done. Earlier … [Read more...]
The battle over the world’s largest wealth fund – and what it means for the energy sector
A broad movement has emerged in Norway to get the country’s $720 billion sovereign wealth fund to invest in renewable energy. According to Terje Osmundsen, blogger and Senior Vice President of Scatec Solar, a globally leading solar power provider, such a change in strategy would have far-reaching effects on the global energy market. Not only directly, but also indirectly as Norway’s fund is seen as a model by other SWF’s. Meanwhile, pressure is … [Read more...]
Global electricity producers: credible carbon pricing essential
Electricity utilities see having a credible price level for CO2 and long-term, predictable policies as the crucial factors for driving change in their fuel and technology mix, according to the latest insights from the Global Electricity Initiative (GEI), presented today. Despite important efforts to increase investments in renewables, the GEI utilities expect fossil fuels to continue to be the basis of generation capacity from 2015 to 2035. … [Read more...]
Exclusive interview IEA-Director Maria van der Hoeven: “We cannot rule out new revolutions”
In its new World Energy Outlook (WEO), the IEA is cautious about the prospects of unconventional oil and gas outside the US. As regards shale gas, it notes that “uncertainty remains over the quality, the costs and public acceptance.” Yet in an interview with Energy Post, IEA Executive Director Maria van der Hoeven notes that “the gas is there. All geologists are agreed on that.” Moreover, “there may be other surprises in store, for example with … [Read more...]
The future of the large German utilities: it’s already here
Energy Post reported recently that German utility RWE is “shedding its old business model and embracing the energy transition”. This is not surprising, writes solar industry pioneer Peter F. Varadi. In fact, says Varadi, the new strategy merely formalizes what is already happening in practice. (Photo: Tim Fuller) … [Read more...]
EPEX Spot and Swissgrid prepare for market coupling
The European Power Exchange EPEX SPOT and the Transmission System Operator Swissgrid AG started cooperating with the aim to be ready to launch day-ahead market coupling projects in cooperation with other neighboring Transmission System Operators (TSOs). The partnership is based upon the Price Coupling of Regions (PCR), which was chosen as the market coupling solution for the integration of the European electricity market. It is therefore … [Read more...]