The latest major report from the International Energy Agency (IEA), the Energy Technology Perspectives 2014, states that “radical action is needed to actively transform energy supply and end use”. In an interview with Energy Post, the IEA’s renowned Chief Economist Fatih Birol notes that governments in particular have to take action. “You cannot change trends by giving some lectures or speeches. Policymakers should put in place real economic … [Read more...]
Policy failures have turned Belgium into high-price electricity island in Europe
Wholesale power prices in Belgium are now considerably higher than in its big neighbour Germany. In addition, Belgium is the only country in North West Europe to be faced with an electricity supply shortage. This situation is caused by a long series of policy failures on the part of the Belgian government, which has failed to create stable investment conditions, a competitive market and adequate interconnections, argues Benedict de Meulemeester, … [Read more...]
After the goldrush: Japan’s second solar boom
A first gold rush driven by generous subsidies led to an uncontrolled boom in solar power projects in Japan, of which, however, only a very small percentage actually got built. Now, however, the government has taken charge and serious developers are entering the market. The liberalisation of the Japanese retail market in 2016 is expected to give another boost to solar power, as consumers will likely drive demand for renewable energy. The Japanese … [Read more...]
Trouble in oil paradise: domestic challenges in Saudi Arabia and their global implications
Saudi Arabia, the mainstay of the world’s oil system, is faced with mounting problems in its domestic energy market which affect its ability to function as the global swing producer, warns Eckart Woertz in a policy brief written for the Norwegian Peacebuilding Resource Centre (NOREF). The country is faced with such a severe natural gas shortage that half of its electricity production now comes from oil. As a result, its ability to export oil may … [Read more...]
Owners make final commitment to Fennovoima
Fennovoima’s owners Voimaosakeyhtiö SF and RAOS Voima Oy have today on April 15th made the binding decision to construct and finance Fennovoima’s nuclear power plant in Pyhäjoki. According to Fennovoima, the nuclear plant "supports Finland’s competitiveness and the operations of its owner companies. The project increases Finland’s self-sufficiency in electricity generation and strengthens the security of supply. According to the agreed … [Read more...]
The Nuclear Power Imperative
As the world’s richest and most innovative economy and second largest source of carbon emissions, the United States should be leading a grand global innovation challenge encompassing the entire range of low-carbon options, including nuclear, argues Richard Lester, Japan Steel Industry Professor and Head of the Department of Nuclear Science and Engineering at the Massachusetts Institute of Technology. According to Lester, climate policy “is about … [Read more...]
Interview Volker Quaschning: “Nobody can hold back the renewables revolution”
Volker Quaschning, a professor for renewable energies in Berlin and one of the most influential advocates of the “Energiewende” in Germany, is convinced that nuclear and fossil fuel power in Germany will be fully replaced by renewable energies in the not too distant future. The Energiewende, he says, does not even require the support of Germany’s EEG (Erneuerbare-Energien-Gesetz) feed-in law any longer. “The EEG is only needed to accelerate the … [Read more...]
China’s continuing renewable energy revolution: global implications
China’s renewable energy revolution is powering ahead, with the year 2013 marking an important inflection point where the scales tipped more towards electric power generated from water, wind and solar than from fossil fuels and nuclear. This means that its energy security is being enhanced, while carbon emissions from the power sector can be expected to soon start to fall. … [Read more...]
EU, in search of an energy strategy, clutches at US “security”
European access to US liquid natural gas (LNG) exports would be “much easier” with a Transatlantic Trade and Investment Partnership (TTIP) in place, US President Barack Obama said at an EU-US summit in Brussels on 26 March, at which energy concerns took centre stage. But the real energy action is likely to take place next week at the EU-US Energy Council on 2 April, when the EU’s High Representative for Foreign Affairs Catherine Ashton and Energy … [Read more...]
Pursuit of phony energy “security” leads to world of diminishing returns
Policymakers in the US, UK and elsewhere are increasingly receptive to the idea that they should be pursuing unconventional oil and gas and nuclear power in the name of "energy security". But according to John Mathews and Erik Reinert, such a strategy misses an essential point of economic history: relying on commodities retrieved by drilling and mining leads only to stagnation, rising costs and environmental damage. The way to growth, innovation … [Read more...]
Fennovoima’s Finnish majority ownership confirmed
Fennovoima’s owner Voimaosakeyhtiö SF has in its general meeting, held today on 28th February, made the final decision to participate in Fennovoima nuclear power plant construction. Voimaosakeyhtiö SF commits to own more than half of the power plant. Voimaosakeyhtiö SF aims at increasing the ownership share of Finnish companies in Fennovoima from the now confirmed 50.2 per cent to as close as possible to 66 per cent. Negotiations with … [Read more...]
Fennovoima’s Environmental Impact Assessment Report completed
Fennovoima Ltd has today on February 13th, submitted its Environmental Impact Assessment (EIA) Report to the Ministry of Employment and the Economy (coordinating authority) in Finland. The report contains an assessment of the environmental impacts of the 1200 MW nuclear power plant at Pyhäjoki site. Fennovoima and Rusatom Overseas signed a plant supply contract of a pressurized water reactor AES-2006 in December 2013. The EIA report has been … [Read more...]
Interview IEA Director Maria van der Hoeven: “Expansion of gas use no panacea for climate change”
Maria van der Hoeven, Executive Director of the International Energy Agency (IEA) believes that unconventional gas can be produced in an environmentally acceptable way, but warns that an expansion of gas alone “is no panacea for climate change”. In an interview with James Stafford, editor of Oilprice.com, Van der Hoeven discusses a wide range of important energy issues, ranging from the role of gas, renewables and nuclear power to the necessity … [Read more...]
India’s quest for energy: nuclear power & other greener options
India has been among the world's fastest growing economies for the past two decades. The country continues to lead not only in growth but also in energy demand growth. India wants to meet its growing energy demands first of all through expanding its nuclear sector and secondly by the development of other “greener” options. Ritwik Mukherjee, editor of the Indian energy journal Energy Ensemble, discusses the challenges faced by India and the … [Read more...]
EU delivers scathing verdict on UK for state aid to new Hinkley C nuclear reactors
The European Commission (EC) has delivered what can only be called a scathing initial verdict on the UK Government’s deal with French state owned EDF to build the first new nuclear reactors in the UK for a generation, according to a blog post from Greenpeace UK. The Commission announced on 18 December that it would investigate the proposed deal. It has now published a 70-page initial analysis on its website, which suggests that, as Greenpeace … [Read more...]