The EC has put forward proposals for tightening the implementation of a price cap on Russian oil exports. Brian O’Toole, Olga Khakova and Charles Lichfield at the Atlantic Council and Tomasz Wlostowski at EU Strategies review the performance of the price cap sanctions one year on from their implementation, and give recommendations for how to make them work better. Though most observers agree that the cap has limited export income for Russia this … [Read more...]
CBAM is now active. A guide to what companies must do to comply
On October 1st 2023 the Carbon Border Adjustment Mechanism (CBAM) became effective. Its purpose is to limit carbon leakage by establishing a carbon price on imported goods that is equivalent to the carbon price on domestically produced goods. That means introducing a set of reporting and compliance obligations for importers of goods into the EU. Simon Göss and Hendrik Schuldt at carboneer explain the new mechanism and scope (aluminium, cement, … [Read more...]
Can we expect Gas price volatility and spikes this winter? Why?
Europe has done well in pivoting away from Russian gas imports. After painful energy prices rises in 2022 they have fallen steadily this year. LNG imports and the infrastructure to support them is growing. And Europe’s gas storage levels hit 90% capacity three months ahead of the November target. But the challenge is far from over, explains Michael Bradshaw at Warwick Business School. European gas prices remain 50% above their pre-invasion … [Read more...]
“Options to Reform the EU ETS”: coping with price volatility and speculation (event summary)
Sara Stefanini provides a written summary of our panel discussion held on 31st March 2022, “Options to Reform the EU ETS”. It’s a full summary of the 90 minute discussion (with a link to the video), but it begins conveniently with a summary of the highlights, leading with the role of financial players, who they are, the causes of price volatility, what reforms can create stability, and the cost of decarbonisation. The main concern is speculation … [Read more...]
Imagine it’s 2030 and net-zero is on track. How did we do it?
Imagine it’s 2030. The energy transition is on track and net-zero goals are entrenched across the global economy. How did we get there? Tim Buckley at IEEFA imagines it for us and sends us a postcard from the future. Writing in the past tense, he flags actual events and policies happening today to “remember” the major changes that took place to achieve it. Weather-related disasters compelled governments to act, recognising – apart from the … [Read more...]
