Nord Stream 2 is likely to benefit rather than hurt energy security in Central and Eastern Europe and in the UK and Germany. The gas pipeline, which Gazprom and five major Western European energy companies want to build from Russia to Germany through the Baltic Sea, can only be credibly stopped by the EU if the European Commission decides to transform itself from a “powerful competition watchdog” to a “political actor. Those are some of the main … [Read more...]
EUGAL: the unknown German branch of Nord Stream 2 will make Germany the key gas hub in Europe
Despite causing great controversy in the EU, plans to build the Nord Stream 2 gas pipeline are steadily being implemented, write Agata Loskot-Strachota and Konrad Poplawski of the Centre for Eastern Studies (OSW) in Poland. What is more, in May preparations were started for a German land leg of Nord Stream 2: the EUGAL project, owned jointly by Gazprom and BASF/Wintershall. According to the authors, this huge pipeline will change the European gas … [Read more...]
“Paris Climate Agreement requires huge economic turnaround in Europe”
The targets agreed to at the Paris climate summit in late 2015 imply a radical change to our economies, a new report by consultancy CE Delft shows. CO2-prices will need to rise to €250/ton in 2050 (compared to some €6 per ton now) and most of the existing industrial installations and infrastructure will need to be replaced. CE Delft compares the scale and impact of the transformation to the one that occurred in Eastern Europe post-1989. … [Read more...]
Nord Stream 2: Trust in Europe
The prospect of building the Nord Stream 2 pipeline between Russia and Germany is dividing the EU into two camps. By following geopolitical considerations, both sides are neglecting the concept of a liberalized natural gas market and are overlooking Europe’s favorable position in current international gas trade, writes Severin Fischer, Senior Researcher in the Global Security Team at the Center for Security Studies (CCS), ETH ZĂĽrich. … [Read more...]
European researchers: include consumers in the EU Emission Trading Scheme
The EU Emission Trading Scheme should not only be applied to industrial producers of CO2, but also to their consumers, proposes Karsten Neuhoff, Head of the Climate Policy Department at the German Institute for Economic Research (DIW Berlin). This would provide sufficient incentives to all market players to reduce their emissions and would do a lot to clarify the structure of free allowance allocation, providing long-term certainty for … [Read more...]
To end windfall profits EU should limit free allocation of CO2 allowances to industry
EU member states intend to continue giving European manufacturers free CO2 allowances, even though this will hand them windfall profits, and will not motivate them to reduce CO2 emissions, writes Emil Dimantchev,  senior carbon market analyst at Thomson Reuters. Dimantchev calls on the European Commission to start a discussion with stakeholders and lawmakers from the European Parliament and member states to find a compromise ensuring that … [Read more...]
Why EU renewable energy figures are misleading: Europe requires 150% renewable energy to become fossil-free
The EU is confident it will reach its target of 20% renewable energy by 2020. But according to Martien Visser, professor at the Hanze University of Applied Sciences in Groningen (The Netherlands), this 20% is in reality more like 14%. This is because a large part of our energy consumption is simply ignored in the calculations for renewable energy. “Even with 100% renewables, we would still need a lot of fossil fuels”, Visser notes. … [Read more...]
Can Nord Stream 2 be stopped?
Nord Stream 2, the controversial Russian-German pipeline project, is generating fierce opposition in Central and Eastern Europe as well as from the European Parliament and the European Commission. But could the opponents of the pipeline, owned 50% by Gazprom and 50% by some of the largest Western European companies, stop the project? They may be able to follow a complex legal route that could place formidable obstacles in the way of the pipeline. … [Read more...]
Injecting energy into the agenda of trade negotiators
Barriers to trade and investment in energy goods and services, long neglected, are starting to  be addressed by trade negotiators in the World Trade Organisation and outside of it. The process of integrating the energy dimension to trade policy is however still in its infancy. An upcoming report from the World Energy Council aims to offer trade officials a policy agenda. Iana Dreyer, editor of Borderlex.eu, a newsletter specialised in EU trade … [Read more...]
Why the EU’s electricity market redesign misses the mark
To address the crisis in the EU power sector, the European Commission has embarked on a fundamental reform process – the Market Design Initiative. However, according to Michael Hogan, Senior Advisor at the Regulatory Assistance Project (RAP), the problem with the EU power sector today is not so much market design as a glut of old, inflexible baseload generation. … [Read more...]
The cheapest way to scale up wind and solar energy? High-tech power lines
A new study from researchers at the prestigious National Oceanic and Atmospheric Administration (NOAA) in the US concludes that the US can cut greenhouse gas emissions from the electricity sector by 80 per cent while keeping prices at or below current levels. The key to achieving this is to build a nationwide, modernised grid that will allow large-scale systems integration of renewable energies.Scientist Christopher Clack explains how the … [Read more...]
Record increase renewables in Europe, but emissions stay level
2015 saw a record 2.5% increase in renewables generation in Europe, which now makes up 29% of total European electricity supply,reports UK think tank Sandbag. However, as a result of lower output from hydropower and nuclear power stations, the amount of fossil fuel generation barely changed. CO2-emissions from the power sector fell only 0.5% after a 7.5% fall in 2014, but according to Sandbag this year will see a rapid fall again. … [Read more...]
Whatever happened to electricity market liberalisation?
In the EU, and the UK in particular, the liberalisation of the electricity market is rapidly being reversed and replaced by old-fashioned command-and-control policies, writes Carlo Stagnaro, Senior Fellow of the Italian free market think tank Istituto Bruno Leoni. One of the main reasons for this reversal are interventionist climate policies. According to Stagnaro, who has a new book out on energy liberalisation, this trend will lead to … [Read more...]
EU takes on gas in first battle for European Energy Union
The European Commission is heading for a full-on confrontation with Member States with a new set of proposals on gas security of supply: Â a fresh attempt by Brussels to impose a truly European policy. According to leaked drafts obtained by Energy Post, the Commission will demand more oversight on gas deals with foreign countries and suppliers, and look to replace national gas policies with regional ones. There will also be a first-ever LNG and … [Read more...]
EU’s first State of the Energy Union report: how it will deliver on climate and energy goals for 2030
The EU’s first-ever “State of the Energy Union” report is determinedly optimistic on progress, but offers little new information and appears to take just a small step towards resolving the biggest challenge of all: uniting national interests around EU priorities. Published by the European Commission on 18 November, the report is accompanied by a whole suite of studies in areas from energy security to climate action. The package sets out … [Read more...]
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