Advanced batteries could âtip the oil market from growth to contraction earlier than anticipated,â concludes credit rating agency Fitch in a new study. Bloomberg New Energy Finance (BNEF) has already told investors to expect the âbig crashâ in oil by 2028âââand as early as 2023. Joseph Romm  Joseph Romm, founding editor of the influential weblog Climate Progress, warns of the âinvestor death spiralâ that may await the oil industry. Article … [Read more...]
Why most âgreenâ electricity in Europe isnât green
Brussels is on course to deliver a big shake-up of the EUâs energy markets this December by trying to put consumers in the driving seat of the energy transition. Millions of consumers have already made the switch to âgreenâ electricity tariffs. Or so they think. But these tariffs are misleading and consumers are, in many cases, actually supporting fossil fuels or nuclear plants which are hidden behind a green façade, writes Jörg MĂŒhlenhoff, … [Read more...]
Hereâs how to build 100% clean renewable energy in the US before 2040
There really is a feasible way to build our way out of the climate crisis in time to avoid the worst effects of global warming, writes Tom Solomon of 350 New Mexico. We do it by rapidly replacing all fossil fuel-based energy with renewable energy built with current technology, installed in a smart grid. We pay for it without damaging the economy and actually save money vs. our current reliance on fossil fuels. The âside benefitsâ include cleaner … [Read more...]
Payment day for nuclear addiction in France
French year ahead power prices have risen sharply over the last few weeks amid worries over the reliability of EDFâs nuclear output in the coming winter. The situation in France demonstrates that nuclear power is neither as cheap nor as reliable as its proponents claim, writes Benedict de Meulemeester, Managing Director of Brussels-based E&C Consultants. According to De Meulemeester, the French market model, based on centralized power … [Read more...]
Who is afraid of Nord Stream 2?
Nord Stream 2, the new gas pipeline that Gazprom is planning to build from Russia through the Baltic Sea to Germany, has been criticised for reducing Europeâs diversification of energy sources and energy security. But according to Energy Postâs editor in chief Karel Beckman, the EU should welcome the pipeline, despite deteriorating relations with Russia. According to Beckman, Nord Stream 2 has a sound economic rationale behind it and the EUâs … [Read more...]
The collective effort behind Finlandâs new nuclear power plant
Five years after announcing that it had chosen PyhĂ€joki, in northern Finland, as the site for a new Russian-designed 1200 MW nuclear reactor, Finnish company Fennovoima is within sight of a 2018 construction start date. No, this is not the notorious Olkiluoto-3 EPR being builty by Arevaâ this is Hanhikivi 1, to be built by Rosatom. Journalist Eric Marx travelled to Finland to find out why Fennovoima is succeeding where other new nuclear projects … [Read more...]
Interview IEA Chief Fatih Birol: âWe are once again increasing our expectations for renewables”
In its upcoming World Energy Outlook, the International Energy Agency (IEA) is âonce again happily increasing our growth projections of renewable energyâ, says Executive Director Fatih Birol in an interview. But a world without fossil fuels is not yet in sight. âThere are fossil fuels and fossil fuels. Coal and oil should be discouraged. Natural gas will continue to play an important role in even our most stringent scenarios.â This interview was … [Read more...]
Interview Spencer Dale, BP Group Chief Economist: âThe energy transition could come faster than we thinkâ
The energy industry faces uncertainties of daunting magnitude on many levels, says Spencer Dale, BPâs Group Chief Economist, in this exclusive interview: the pace of climate change policy, the growth of renewables, the apparent demise of coal, falling energy prices, the role of natural gas in the energy mix, and the likely impact of energy efficiency on demand growth. According to Dale, âitâs possible that we will see forces leading to a faster … [Read more...]
Interview Francesco Starace, CEO Enel:Â âWe have stopped investing in projects that take more than 2 or 3 years”
âOur aim is to grow the use of electricity as energy vectorâ. This is how Francesco Starace, CEO of Enel, one of the worldâs largest utilities and perhaps the biggest producer of renewable energy in the world, describes the strategic goal of his company. According to Starace, the utility of the future owns and manages a digitised grid that connects up decentralised green energy sources and is at the centre of a whole new system of energy products … [Read more...]
The “new realities for energy”: peak demand, stranded assets
"The world is undergoing a Grand Transition driven by a combination of factors including the fast-paced development of new technologies, an unstoppable digital revolution, global environmental challenges and changing growth and demographic patterns", according to a statement from the World Energy Council, a UN-accredited global energy network with over 3,000 member organisations in over 90 countries. According to the World Energy Council, the … [Read more...]
World Energy Scenarios show: Strong government policies needed to limit climate change
The world will find it difficult to meet the 2°C target set in the Paris Agreement unless it goes down a path of strong enforcement by national governments of international agreements to curb greenhouse gas emissions. That's one of the key conclusions of the World Energy Scenarios 2016 report from the World Energy Council, which looks at how global trends will shape the energy industry over the next 45 years. The report was launched today at the … [Read more...]
Hinkley C must be the first of many new nuclear plants
The debate around Hinkley Point C has mainly focused on the price EDF will get for electricity generated, but this is not out of line with what may be expected given the urgent need for more sustainable power, writes Simon Hogg, Executive Director of Durham Energy Institute. What is more important, according to Hogg, is that Hinkley C should be followed by the construction of more and different new nuclear power stations, as part of an overall UK … [Read more...]
Corporate Americaâs huge appetite for clean energy
An increasing number of corporations are directly buying or building their own clean electricity, writes Elias Hinckley, a US-based strategic energy advisor. Companies across the business spectrum, ranging from Apple to Dow, General Motors and Bank of America, have set goals for 100% renewable power. Hinckley explains the reasons for this trend and notes that energy suppliers and investors cannot afford to ignore this huge new market. … [Read more...]
Europe should look at consumption of renewables not just production
European consumers actively chose to buy more than 550TWh of renewable electricity last year, 20% of all electricity consumption. Yet EU member states are not required to report on consumption of renewables, only  production. This gives a false picture of what is happening in the market, say business representatives involved in purchasing and producing green electricity. Dual reporting - of consumption and production - would show that some … [Read more...]
Climate change becomes prime investment driver
BlackRock, the worldâs largest private investment fund, has announced that it will include climate change as an important factor in how it assigns risks to its investment portfolio, writes Fereidoon Sionshansi, president of Menlo Energy Economics and publisher of the newsletter EEnergy Informer. According to Sionshansi, this decision has huge implications for the energy sector. … [Read more...]
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