Electricity

Press release - Parliament adopts reform of the EU electricity market

Retrieved on: 
星期四, 四月 18, 2024

- EU electricity market will be more affordable and consumer friendly

Key Points: 
  • - EU electricity market will be more affordable and consumer friendly
    - “Contracts for Difference” to encourage energy investments
    - Vulnerable customers will be protected from having their electricity cut off
    - EU will have power to declare regional or EU-wide electricity price crisis
    The reform adopted on Thursday will make the EU electricity market more stable, affordable, and sustainable.
  • MEPs also secured that EU countries can prohibit suppliers from cutting the electricity supply of vulnerable customers, including during disputes between suppliers and customers.
  • Quote
    “This reform puts citizens at the forefront of electricity market design.
  • The Parliament has taken a step forward in democratising energy, creating a market design that responds to the failures exposed by the energy crisis.

Press release - MEPs approve reforms for a more sustainable and resilient EU gas market

Retrieved on: 
星期四, 四月 18, 2024

MEPs approve reforms for a more sustainable and resilient EU gas market

Key Points: 
  • MEPs approve reforms for a more sustainable and resilient EU gas market
    - New directive will help decarbonise the gas sector to tackle climate change
    - MEPs secured measures to protect vulnerable consumers and to ensure transparency
    - EU countries will be able to restrict imports from Russia
    - To shift away from fossil gas, the legislation will promote biomethane and hydrogen
    On Thursday, MEPs adopted plans to facilitate the uptake of renewable and low-carbon gases, including hydrogen, into the EU gas market.
  • In negotiations with Council on the directive, MEPs focused on securing provisions around transparency, consumer rights, and support for people at risk of energy poverty.
  • Unbundling rules for hydrogen network operators will correspond to existing best practices in the gas and electricity market."
  • It includes provisions to facilitate blending hydrogen with natural gas and renewable gases, and greater EU cooperation on gas quality and storage.

Press release - European Parliament Press Kit for the Special European Council of 17 and 18 April 2024

Retrieved on: 
星期四, 四月 18, 2024

In this press kit, you will find a selection of the European Parliament’s press releases reflecting MEPs’ priorities for topics on the summit agenda. Source : © European Union, 2024 - EP

Key Points: 


In this press kit, you will find a selection of the European Parliament’s press releases reflecting MEPs’ priorities for topics on the summit agenda. Source : © European Union, 2024 - EP

Press release - EP President Metsola at EUCO: The Single Market is Europe’s greatest economic driver

Retrieved on: 
星期四, 四月 18, 2024

Doubling down on the Single Market ensures Europe’s long-term competitiveness, prosperity and leadership on the global stage, said President Metsola at the Special European Council. Source : © European Union, 2024 - EP

Key Points: 


Doubling down on the Single Market ensures Europe’s long-term competitiveness, prosperity and leadership on the global stage, said President Metsola at the Special European Council. Source : © European Union, 2024 - EP

Climate change makes life harder: in South Africa it’s likely to bring heatwaves, water stress and gender-based violence

Retrieved on: 
星期四, 四月 18, 2024

Human-induced climate change made the severe 2015–2017 drought three to six times more likely.

Key Points: 
  • Human-induced climate change made the severe 2015–2017 drought three to six times more likely.
  • Our new report on Climate Change Impacts in South Africa has found that as Earth warms, people living in South Africa will face reduced incomes, less food and water security and a higher cost of living.
  • Our findings, based on a synthesis and review of existing research on climate change, are that climate change and socioeconomic risks threaten to bring about a huge change to this status.
  • Combating the impacts of climate change in South Africa requires adaptive measures, such as changing the way we farm, coordination by the government and international commitment to reduce emissions.

Heatwaves

  • Farm workers will be exposed to more extreme temperatures working outside and others will suffer from heat stress in their living and working environment.
  • Here's how

    Extreme weather threatens the plants and animals that attract tourism, and directly damages infrastructure at nature reserves, adventure destinations and parks.

  • Rising temperatures are projected to reduce visitor numbers to South Africa’s national parks by 4% by 2050, affecting the Kruger National Park most.

An agricultural crisis

  • Smallholder farms are often located in areas with less fertile soils or limited infrastructure, leaving these farmers more vulnerable to climate change.
  • Arable land suitable for growing crops is concentrated in just 12% of South Africa’s land area.
  • Therefore, any extreme event that reduces production – such as drought – can be expected to reduce job security and income for farming households and agricultural workers.

Water

  • Drought and floods damage transport links, public buildings, and water and energy infrastructure, and challenge the provision of basic services.
  • During the water crisis that followed the 2015–2017 drought, for example, reservoirs serving 3.7 million people around Cape Town dropped to 20% of capacity, leading the government to impose water restrictions.

An increase in gender-based violence

  • These gender inequalities include a high incidence of gender-based violence and a higher likelihood of poverty among women.
  • Research in other parts of the world has also linked rising temperatures with an increase in gender-based violence.

Solutions


Much of the country’s economic future hinges on the speed with which investments in renewable energy can replace coal and provide affordable and reliable electricity. Slowing down climate change will take a huge global effort and progress has been limited. The only alternative is to be prepared and adapt to the projected changes.
Peter Johnston receives funding from United Nations, NORCE, NRF

South Africa’s electricity crisis: a series of failures over 30 years have left a dim legacy

Retrieved on: 
星期四, 四月 18, 2024

Back then only 36% of all South Africans had electricity in their homes.

Key Points: 
  • Back then only 36% of all South Africans had electricity in their homes.
  • The development programme promised to double that number by electrifying an additional 2.5 million homes by 2000.
  • This seemed achievable – during the 1980s, the state-owned power utility Eskom’s build programme was so aggressive it had surplus electricity.
  • By 1994, South Africa’s coal industry was generating high quality coal which was exported mainly to Europe.

What went wrong

  • Eskom tried to convince the government to allow it to build more power stations.
  • But under the macroeconomic policy, the government decided that new power stations must be built by Black empowered businesses.
  • For that to work, the prices of electricity needed to increase to make it financially viable for the businesses.
  • The White Paper was accurate in predicting when the country would run out of power.
  • If the Eskom CEOs had signed the power purchase agreements, it would have brought online 5GW of renewables.

The current dilemma

  • This provided for a very large increase in the number of renewables and the closure of several coal-fired power stations.
  • But Mantashe later delayed the procurement of renewables, deepening the crisis at Eskom.
  • Dividing the utility up was approved in 2019 but the National Transmission Company was only set up in 2024.
  • Ramaphosa appointed an electricity minister, Kgosientsho Ramokgopa, and released the Energy Action Plan to end power cuts.

Solutions

  • It dramatically increases the emphasis on gas – it is a gas infrastructure plan and South Africa doesn’t have much gas.
  • The country will have to import gas and pay in US dollars, thus increasing its dependence on the dollar.
  • Instead, South Africa needs to transition to renewable energy plus backup, which is batteries and a substantial gas reserve.


Mark Swilling is a Non-Executive Director of the Eskom National Transmission Company of South Africa. He writes in his academic capacity. He has received funding for his research from National Research Foundation, VW Foundation, Open Society Foundation and European Climate Fund.

How India’s economy has fared under ten years of Narendra Modi

Retrieved on: 
星期四, 四月 18, 2024

The ruling Bharatiya Janata Party (BJP), which is led by Prime Minister Narendra Modi, is seeking a third term in office.

Key Points: 
  • The ruling Bharatiya Janata Party (BJP), which is led by Prime Minister Narendra Modi, is seeking a third term in office.
  • If one was to go by economic growth figures alone, the Modi government’s performance has been impressive.
  • A series of high-profile corruption cases led to a loss of investor confidence in the Indian economy.
  • According to the International Monetary Fund, India’s economy is projected to grow at a rate of 6.5% in 2024.
  • That is higher than China’s projected growth of 4.6%, and exceeds that of any other large economy.

All smoke and mirrors?

  • India’s economic performance is hard to assess as the government has not published official data on poverty and employment since 2011.
  • This has led analysts to use alternate data sources that are not as reliable as the large and nationally representative consumption and employment surveys of the Indian government’s statistical agency.
  • The results were based on a large consumption survey carried out by the Indian government.

The new welfarism

  • The Aadhaar rollout, in particular, has allowed national and state governments to distribute benefits to the poor directly through their Aadhaar-linked bank accounts.
  • It has also helped to curb leakage in the delivery of subsidies to poor households, which has long been the bane of India’s welfare delivery.
  • Essential goods such as toilets and cooking cylinders, which are normally privately provisioned, were supplied in large numbers by the government.
  • This led to what Indian economist and the former Chief Economic Advisor to the government, Arvind Subramanian, called “New Welfarism” in India.

The lack of good jobs

  • But it has not been as successful in creating productive jobs for the large proportion of India’s labour force who are unskilled and poor.
  • Around 40% of workers remain in agriculture, and only about 20% work in manufacturing jobs or business services such as IT.
  • The weak record of the Modi government in creating jobs is surprising given that it has floated many initiatives to kickstart manufacturing.


Kunal Sen receives funding from ESRC, British Academy and DFID.

A landslide forced me from my home – and I experienced our failure to deal with climate change at first hand

Retrieved on: 
星期三, 四月 10, 2024

These cracks soon became a landslide affecting several homes overlooking the Gill, ultimately swallowing tonnes of land and trees and leaving chunks of our properties at the bottom of the valley.

Key Points: 
  • These cracks soon became a landslide affecting several homes overlooking the Gill, ultimately swallowing tonnes of land and trees and leaving chunks of our properties at the bottom of the valley.
  • The local council has forced my family out of our home, which is now teetering on the edge of a cliff.
  • This is worrying, as events like these will become more and more common in the years to come.
  • Although Hastings is a coastal town, our property is inland, so this could happen to anyone, anywhere.

No one wants to take responsibility

  • This response – or lack thereof – reveals a troubling incentive structure, where the fear of assuming liability results in inaction.
  • Our attempts to be rehoused or to have the landslide damage addressed were met with challenges at every turn.

Previously rare events aren’t factored in

  • The landslide reveals current climate governance frameworks are inadequate, since they simply don’t consider previously rare events like these.
  • This means landslide victims have to do it themselves, at enormous personal cost, and often without any prior technical or policy experience.

A call for systemic change

  • In an ideal world, this issue would be dealt with by local authorities or utility companies.
  • So we need policies that empower (or force) local authorities and utility companies to act without fear of legal liability.
  • As the climate changes, catastrophes like this one can happen to anyone, no matter how secure we may feel.


Ralitsa Hiteva is a member of the Green Party.

EQS-News: 3U paves the way for anticipated growth spurt

Retrieved on: 
星期三, 四月 10, 2024

Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at EUR 5.2 million in the period under review (previous year: EUR 8.5 million).

Key Points: 
  • Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at EUR 5.2 million in the period under review (previous year: EUR 8.5 million).
  • We will also continue to focus on the topic of external growth.
  • The ITC segment raised revenue by 26.3 % overall to EUR 15.3 million in 2023 (previous year EUR 12.1 million).
  • Organic growth stood at 10.3% and is principally attributable to success in winning new customer business.

EQS-News: Encavis Asset Management AG and LyondellBasell Announce Renewable Energy Power Purchase Agreement

Retrieved on: 
星期三, 四月 10, 2024

Houston/Munich, April 2, 2024 – LyondellBasell (NYSE: LYB) and Encavis Asset Management AG (Encavis AM) today announced they signed a power purchase agreement (PPA) to secure 208 megawatts (MW) of renewable electricity generation capacity from the solar park in Bartow, Germany.

Key Points: 
  • Houston/Munich, April 2, 2024 – LyondellBasell (NYSE: LYB) and Encavis Asset Management AG (Encavis AM) today announced they signed a power purchase agreement (PPA) to secure 208 megawatts (MW) of renewable electricity generation capacity from the solar park in Bartow, Germany.
  • Under this 12-year PPA, Encavis AM will deliver approximately 210 gigawatt-hours (GWh) of solar power to LyondellBasell annually.
  • "This vast large-scale solar project in Bartow reaffirms our expertise in sophisticated investments in the Renewable Energy sector and makes a substantial contribution to the energy transition.
  • Leveraging our industry know-how, we are committed to operating the solar park in an environmentally sustainable and economically profitable manner," says Karsten Mieth, Spokesman of the Board of Encavis Asset Management AG.