The European Commission has declared German plans to grant EUR 1.6 billion public financing for decommissioning and subsequently closing eight lignite-fired power plants to be in line with EU state aid rules.
Archive for the 'Climate Change' Category
Last Sunday at 12:45 it was sunny and windy, and the end of a long holiday weekend. It looks like this resulted in more than 90% renewable energy, a whopping 13.6 GW of power exports, and EPEX spot intraday continuous power prices down to -178.01 EUR/MWh, with a weighted average of -144.78 EUR/MWh during that time.
The IBA Oil and Gas Law Committee is organising a conference on “Opportunities and Challenges for the Oil & Gas Business: from a North Sea and Atlantic Perspective” in Oslo from 22 to 24 June 2016. I will be on the panel discussing the Paris Agreement and its impact for the oil and gas business.
With its Electricity Market 2.0 project, the German government wants to take an important step towards enhanced integration of renewable energy sources into the electricity market. Renewables in 2015 already constituted about one third of Germany’s electricity consumption. The challenge is to integrate an increasing amount of intermittent renewable energy with feed-in priority into the system, in a secure, cost-efficient and sustainable way.
I am happy to report that Euromoney included me in their new 2016 list of top legal practitioners advising on energy law. Continue reading ‘Euromoney’s Expert Guide for Energy 2016′
In 2015, CO2 reductions using renewable energy electricity supported by the German Renewable Sources Act (EEG) amounted to about 103 million tonnes. In the same period, net EEG payments amounted to about EUR 22.6 billion. Average cost per tonne of CO2 reduced using the EEG therefore amounted to about EUR 219/tonne. During the same period, the price for EU Emission Allowances (EUA) at the EEX secondary market was somewhere between above EUR 6 and below EUR 9 per tonne CO2.
The Federal Ministry of Economic Affairs and Energy (BMWi) said that an agreement has been reached with the lignite power station operators Mibrag, RWE and Vattenfall on putting 2.7 GW first into a special reserve and then later close the plants down. Minister Gabriel considers this to be important for reaching Germany’s climate targets.
I had the pleasure of chairing a great session on “Hot topics on gas supply arrangements” at the IBA’s Annual Conference in Vienna.
On 1 October, Oxera and Bird & Bird will be organising an afternoon seminar in Düsseldorf on “Capacity Mechanisms in the Energy Turnaround – Risks for Market Participants? The seminar will cover important current energy state aid law questions, and will be held mainly in German. It is free, but places are limited. Please send me an e-mail if you are interested.