IEA: Clean energy progress falls well short of what is needed

Solar powered microwave steam engine 2000 by Daniel Oines

It is “realistic and economically sensible to pursue a clean energy agenda”, states the International Energy Agency (IEA) in a new edition of its annual Energy Technology Perspectives. But, it adds”: “clean energy progress is failling well short of the levels needed to limit the global increase to no more than 2 degrees Celsius”. Governments must do much more to stimulate the uptake of clean energy and energy efficiency technologies.  … [Read more...]

Tennet: Dutch electricity prices down 20%, price declines in almost all European countries

Electricity prices in the Netherlands declined 20% in 2014, according to a new Market Review published by Tennet, the Dutch transmission system operator (TSO), which is also active in Germany. According to the Market Review, electricity prices went down across Europe. Prices in the Netherlands and Germany showed convergence, but there was little convergence overall in Europe. The report also shows that coal-fired power plants are taking over from … [Read more...]

UBS: closures coal and gas fired power plants in Europe accelerating

RWE's Neurath power station (photo fb.foto)

The influx of renewable energy sources such as wind and solar into energy markets is forcing coal and gas fired generation out of the market even quicker than most analysts expected, according to a new market report from investment bank UBS. According to UBS, policymakers may have to take measures to prevent widespread bankruptcies in the European electricity market, writes Giles Parkinson of … [Read more...]

Less worldly, more wise: a letter to Ben van Beurden, CEO of Shell

photo: Karen Blaha

In a speech given in London in February, Ben van Beurden, CEO of Shell, called on the energy industry to be "less aloof, more assertive" in the debate about climate change. Van Beurden stressed that "the world's energy needs will underpin the use of fossil fuels for decades to come" and called for "realism and practicality". In a speech given in Paris in March, John Ashton, independent speaker, former UK Special Representative for Climate Change … [Read more...]

GlobalData: Russia’s oil production will continue to grow despite low oil prices

Rosneft oil terminal (photo Mikhael Vasiltsov)

Russian oil production has grown by 1 million barrels per day (bpd) over the last decade to a post-Soviet record of 10.6 million bpd in 2014. In the next five years the factors that were behind this production surge will remain in place, regardless of oil prices, says Anna Belova, GlobalData's Upstream Analyst covering the Former Soviet Union. The Russian oil and gas industry is “relatively self-sufficient”, Belova adds. … [Read more...]