The reach and power of the EU and its institutions are up for serious debate as Europe prepares to enter into an âEnergy Unionâ. 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 â 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...]
EXCLUSIVE – new Vattenfall CEO Magnus Hall: âWhat is true for Eon, is pretty much true for usâ
Vattenfallâs CEO Magnus Hall likens the selling of its lignite operations in Germany to Eonâs recent split in two. âThe problem we needed to solve was the CO2 issue,â 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 Ćoskot-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...]
Junckerâs âŹ300bn investment gamble â and what it might mean for energy
The EU and European Investment Bank (EIB) have teamed up to launch a new investment programme for Europe â with energy, as well as transport, research, innovation and education, its key objects. A modest âŹ21bn in public money is set to be multiplied up to a whopping âŹ315bn in total investments over the next three years, pushing Europe toward that long-hoped for economic recovery. There is no dedicated share of the money for individual sectors or … [Read more...]
The Five Energy Labours of Juncker
The new team heading the European Commission in Brussels is lucky. Its predecessors closed two sensitive deals before the reshuffle: a European energy and climate strategy for 2030 and a gas winter package between Ukraine and Russia. On top of that, outgoing Energy Commissioner GĂŒnther Oettinger finished off a thick report on the way forward for a European energy market. The new Commission will follow up on these three dossiers, plus two more … [Read more...]
How to solve the crisis in the EU electricity market
Climate policy and government support of renewable energy are often blamed for the current crisis in the European electricity market. In reality, however, this crisis is caused by changed market fundamentals as well as the inadequacy of the existing market design, argue Andreas RĂŒdinger and Mathilde Mathieu of the Institute for Sustainable Development and International Relations (IDDRI). What is needed is better integration of climate and … [Read more...]
AndrĂ© Faaij, Energy Academy Europe: âThe energy transition has only just begun"
While policymakers and companies generally acknowledge the need for an energy transition, they still underestimate the enormous task that is facing us. The real energy transition, says AndrĂ© Faaij, the new academic director of the Dutch research institute Energy Academy Europe, has yet to start. And, he adds, it will only succeed if it is strongly directed by government policy â preferably coordinated by Brussels â and approached in a … [Read more...]
The EU's great 2030 energy and climate compromise
European leaders agreed new climate and energy targets for 2030 of âat leastâ 40% greenhouse gas emission reductions, 27% renewables and 27% energy efficiency at a summit in Brussels on 23 October. Central and Eastern European countries led by Poland succeeded in getting substantial financial concessions in return for signing up to the package. Stakeholder reaction ranged from bitter disappointment among NGOs and energy efficiency advocates to … [Read more...]
Brussels gives first glimpse of what it means by âEnergy Unionâ
Career diplomat MaroĆĄ Ć efÄoviÄ from Slovakia gave the first glimpse of what the EU's "Energy Union" may look like during his hearing at the European Parliament on Monday night for the post of Europeâs Vice President Energy Union. Ć efÄoviÄ believes in common purchasing of gas and the Southern Corridor (but opposes South Stream), regards the internal market as the backbone of the Energy Union, supports the UKâs state aid to the nuclear power plant … [Read more...]
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