Coal’s carbon impact is clear from the fact that it produces 20% of electricity and 65% of EU power sector emissions. But even with EU coal prices at a five-year high, we are unlikely to see short-term European coal emissions reductions. Emissions Trading System prices would have to double to push coal out of the EU electricity mix, says Paul Deane of University College Cork's Environmental Research Institute. … [Read more...]
Post-Brexit carbon tax would set Scotland against UK
The UK is weighing up future carbon pricing options in a post-EU world, but Scotland will not abide a London plan for a national tax because that would impinge on devolved powers. Resolving the issue will not be easy, particularly in the event of a no-deal Brexit, writes Sara Stefanini, Climate Home News. Courtesy of Climate Home News. … [Read more...]
Poland’s PGE should accelerate its coal diversification plans
Poland’s biggest utility, PGE, should accelerate plans to diversify away from coal, as surging carbon prices underscore risks gathering around its present PLN 21 billion ($5.6 billion) coal power investment programme, write Gerard Wynn of IEEFA (Institute for Energy Economics and Financial Analysis) and Paolo Coghe of the Paris-based independent consultancy Acousmatics. Courtesy Energy and Carbon Blog. … [Read more...]
Interview Ditlev Engel, CEO DNV GL Energy: “We have to rethink the mechanisms of the electricity market”
DNV GL’s new 2018 Energy Transition Outlook projects a massive investment shift from fossil fuels to renewables and grids – and this is based mainly on cost considerations. Yet, notes Ditlev Engel, CEO of DNV GL Energy, in an interview with Energy Post, this won’t be enough to meet the goals of the Paris Climate Agreement. He says policymakers will have to take additional actions. “Doing just a little more won’t be enough.” (See here for main … [Read more...]
Estonia needs a plan – and support – to get rid of its dirty oil shale
The need for a transition to sustainable energy is widely felt in Estonia, but after twenty years of talking, Estonia’s dirty oil shale industry is still carrying on. In fact, thanks to lower taxes, a boom in oil shale mining is expected. Estonian Green Movement, a member of Bankwatch, recently presented the national parliament with a proposal for a strategic oil shale exit plan. According to Teet Randma, national campaigner for Bankwatch in … [Read more...]
Tipping point: new wind and solar competitive with existing coal and gas
€20/ton carbon prices in combination with high coal and gas prices have created a new tipping point in Europe, writes Dave Jones of UK-based think tank Sandbag. For the first time, new onshore wind and solar can compete with existing coal and gas plants. … [Read more...]
The carbon floor price – a hammer in need of a toolbox
Carbon pricing is often regarded as the Holy Grail of climate policy. But according to Richard Cowart, Principal at the Regulatory Assistance Project (RAP), carbon prices cannot be a stand-alone solution. They have limited reach and – especially in electricity -- can be expensive for consumers. Nor are high carbon floor prices a magical solution: they don’t reduce the surplus of allowances and may not even reduce emissions. According to Cowart, … [Read more...]
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