The US and India have signed a deal to "enhance cooperation" on cutting emissions and investing in low carbon energy sources. The agreement is much weaker than the historic pact signed between the US and China last year. But there are a number of good reasons India is reluctant to take strong action to curb its emissions in the short term. Mat Hope of the Carbon Brief describes India's huge energy and climate challenge. … [Read more...]
A “J’Accuse” from an ex-EU official: only a real Energy Union can save the EU energy market
An “Energy Union” in Europe means that an EU-level organisation will balance the flows of electricity, not national transmission system operators. And it means the EU will ensure security of supply - not the national member states. That is the vision of Jean-Arnold Vinois, until recently Director in charge of the internal energy market at the European Commission and co-author of a groundbreaking report from Notre Europe (Jacques Delors Institute) … [Read more...]
MIT study investigates role of bio-energy in low-carbon future
According to a new report from MIT, released in January, bioenergy production could cut greenhouse gas emissions by more than half, but with a caveat. “To achieve the cut”, notes MIT in a press release, “the carbon price must cover emissions from changing land use. Without this safeguard, deforestation becomes a major concern as forests are cleared to make way for farmland.” … [Read more...]
How Pope Francis could tip the balance against fossil fuels
Six years ago, Pope Benedict XVI installed more than 1,000 solar panels on the Vatican’s audience hall, helping him earn him the sobriquet of the “Green Pope”. Soon his successor Pope Francis may just go one step further: in April he is expected to issue a papal encyclical on climate change. His actions could tip the balance against fossil fuels, as the world’s wealthiest institution takes on the world’s most powerful industry. Meanwhile, Vatican … [Read more...]
Eon’s transformation: how it will change the energy debate in Europe
With Eon’s historic decision to restructure we now for the first time will have a large energy supplier not being pulled in two directions, but acting on the single imperative of bringing new energy solutions to customers. This removes one of the key obstacles that has been hindering the energy transition, writes Simon Skillings, former Director of Strategy and Policy at Eon UK and now independent consultant and associate at environmental think … [Read more...]
UK “capacity market” is not a market – it’s state aid (£1 billion/year)
The UK is the first country in the EU to have started a “capacity market”. Under this scheme, the UK government offers payments to electricity suppliers for making “backup capacity” available. The first auction, held in December for capacity in 2018/2019, has resulted in contracts for £931 million for UK power generators. According to Mike Parr, Director of energy consultancy PWR, most of this money is wasted. He says the scheme is overgenerous … [Read more...]
Historic moment: Saudi Arabia sees End of Oil Age coming and opens valves on the carbon bubble
Most analysts believe Saudi Arabia refuses to cut production because it wants to shake out its higher-cost competitors or because it wants to punish Iran and Russia. There may be some truth in those theories, writes Elias Hinckley, strategic advisor and head of the energy practice with international law firm Sullivan and Worcester, but they miss the deeper motivation of the Saudis. Saudi Arabia, he says, sees the end of the Oil Age on the horizon … [Read more...]
Deutsche Bank: solar at grid parity in most of world by 2017
Investment bank Deutsche Bank is predicting that solar systems will be at grid parity in up to 80 per cent of the global market within 2 years, and says the collapse in the oil price will do little to slow down the solar juggernaut. Giles Parkinson of the Australian-based website Reneweconomy.com reports. … [Read more...]
UK coal use headed for all-time record low
This year UK coal use is likely to fall back to levels last seen during the industrial revolution, according to analysis from The Carbon Brief. By 2023 the UK may not use any coal anymore for electricity generation, if low gas prices persist. The nation that started the Industrial Revolution, based on coal, says goodbye to the coal age. … [Read more...]
Why cheap oil will not wreck the prospects for renewable energy – this time around
When oil prices collapsed in the 1980s, most large renewable energy programs were dismantled. But that won’t happen this time, writes John Mathews, Professor of Strategic Management at Macquarie University's Graduate School of Management in Sydney, and author of a brand new book “The Greening of Capitalism”. The reason is that China has made a strategic commitment to renewables. Don’t forget, Mathews writes: coal prices have also been falling, … [Read more...]
Christoph Frei, World Energy Council: “The real hope for ‘Paris’ is to see a connected carbon market started by the big players”
On 20 January, the World Energy Council (WEC) will publish its World Energy Issues Monitor – an annual survey of over 1,000 energy leaders in over 80 countries. WEC’s Secretary-General Christoph Frei notes the biggest changes compared to last year are that energy leaders have become more concerned with security of supply (Russia) and cyber-security. Price volatility and climate framework remain at the top of the worries list. In an in-depth … [Read more...]
Failure to liberalise energy retail markets jeopardizes Energy Union
The liberalisation and integration of European energy retail markets is still far from complete, conclude Simona Benedettini of Italian consulting firm Lear and Carlo Stagnaro of the Italian think tank Bruno Leoni Institute on the basis of extensive research. According to Benedettini and Stagnaro retail competition is still weak in many EU member states. Moreover, there are still large regulatory differences between countries which prevent the … [Read more...]
Measuring the CO2 impact of big infrastructure projects: the case of Keystone XL
Major energy infrastructure projects will be more and more put to a climate test. In the US, for example, draft environmental legislation adopted last year stipulates that climate analysis of federal projects should include “downstream” emissions. In future it will not be so easy for companies to say “if we don’t do it, somebody else will”. But how do you measure indirect climate effects? The Stockholm Environment Institute is one place where … [Read more...]
The implications of $50-a-barrel oil for the world’s energy mix
Oil prices keep sliding, sending economic shockwaves around the world. Analysts are scrambling to try and understand what it means for the world's future energy mix and efforts to cut emissions. But the relationship between oil prices and energy investments is complex, writes Mat Hope for The Carbon Brief. Much depends on how low the price goes as, beyond a certain point, lots of projects are no longer economically viable. … [Read more...]
Eon sells Italian coal and gas power plants
Eon, Germany’s largest energy company, has decided to sell its Italian coal and gas generation assets to Czech energy company Energetický a Průmyslový Holding (EPH). … [Read more...]
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