Tag: energy security

Why UK financial regulators are instrumental in energy security and net zero

In front of the world at COP26, the UK committed to delivering a world-leading net zero aligned financial centre last year. The UK financial sector, currently ranked first globally as a green financial market, is well placed to take advantage of the opportunities that this presents – potentially worth over £1 trillion to UK businesses by 2030. Unlocking these opportunities requires a plan that brings in the key actors across the financial system – including the UK financial regulators.  

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EU Energy Security & Climate Action: White Paper

The white paper covers the nature of the EU’s security of supply challenge, an assessment of the levers which can address this challenge in the short- and mid-term, and recommendations on specific actions for European states to take. The analyses conducted confirm that there is a path for Europe to secure its energy supply over the next winters and into 2025, and to do so in conformity with its medium-term climate commitments.

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Japan’s Energy Strategy for Hydrogen and Ammonia: Briefing

The Japanese government has set ambitious goals for a carbon-neutral future to enhance its energy security. It plans to establish a full-scale international hydrogen supply chain to cut the cost of hydrogen by 2030 and to encourage the use of ammonia in thermal power generation as a low-carbon transition fuel. In this briefing, Clifford Chance looks at Japan’s hydrogen strategy and the policy and regulatory initiatives underpinning the development of the sector.

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Europe must double its pace of wind and solar deployment: Ember

With the gas crisis and Russia’s war in Ukraine, energy security been shooting up on the top of the EU’s agenda. Seeing the urgency of reducing dependence on imported fossil fuels, the European Commission and European Union (EU) member states have increased ambition on renewable energy. However, this needs to be coupled with actual delivery through national legislation, the removal of administrative barriers, effective support schemes and increased investment.

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Energy produced in Britain is the safest option: UK Energy Secretary Kwasi Kwarteng 

Unlike many in Europe, our energy comes from a variety of highly diverse, reliable, and secure sources. On electricity, our diversity of supply is a great strength. We have the world’s second largest installed capacity of offshore wind – only just beaten by China in fact only a year ago. We have onshore wind, we have solar power, we have nuclear, we have hydroelectric power, and of course we’ve got interconnectors between us and countries in Europe.

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EU Action On Energy Crisis: Report

In this report, CREA and Ember analyse European national responses to the gas crisis and Russia’s war on Ukraine. They show that the majority of European countries have significantly stepped up their ambition in terms of renewable energy deployment since 2019,
while decreasing planned 2030 fossil fuel generation to shield themselves from geopolitical threats.

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E3G Briefing: UK’s Home Energy Security Strategy

Ofgem has predicted that the energy price cap will hit £2,800 in October. The UK government has provided £37bn this year just to keep people afloat. Investing now in long-term, enduring solutions can prevent similar sums from being required up to 2030 and potentially beyond. The government could act now to reliably lower bills by launching a national mission to upgrade the UK’s cold and leaky homes.

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Top countries for renewable energy investment

Governments around the world are looking to accelerate and broaden the scope of their renewables programs to help reduce their reliance on imported energy at this volatile and unpredictable time. Here, key developments within 10 markets that are taking interesting and varied approaches to trying to secure their energy supplies are explored — from the tripling of onshore wind and solar in Germany to green hydrogen investment in India.

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We need to work together to widen these bottlenecks: Vattenfall’s Anna Borg

The fundamental problem of discrepancy in demand and supply remains. While the knowledge, capability and capital to provide that additional supply exists, the political will and regulatory frameworks need to widen the bottlenecks and enable all of these to come to market at the earliest. This includes secure supply chains, short permitting processes, provision of land and sea for deploying capacity, and also addressing of social concerns around building these new business opportunities. Thus, removing uncertainties in investment pre-requisites is critical.

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German Easter Package targets 80 per cent renewables by 2030

Germany is urgently gearing up for a major electricity policy revamp impelled by the ongoing geopolitical circumstances and the need to secure its future national energy supply besides achieving its climate goals. The comprehensive energy package outlines new frameworks for renewables, power grids and markets in order to ensure that the country is on track to achieve climate neutrality in the electricity sector by 2035, with an interim target of 80 per cent renewable electricity (or 600 TWh) by 2030.

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Britain’s Energy Security Strategy targets 50 GW of offshore wind by 2030

After delays due to concerns within the Treasury, the Government released its highly anticipated British Energy Security Strategy on April 7, 2022. Offshore wind is one of the key cornerstones of the Strategy with the Government signalling its intention to increase capacity up to 50GW by 2030. Targets for low carbon hydrogen production capacity have been doubled to up to 10GW by 2030.

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E3G Briefing: Addressing the UK’s Energy Needs at Speed

Government can supercharge renewables deployment this decade by ensuring all relevant bodies have a mandate aligned with the UK’s 2035 net zero power system target, scaling up support to attract renewable supply chain investment to the UK, and setting ambitious interim targets for renewables technologies. While existing oil and gas production should continue to be used, future licensing rounds will not play a part in eliminating UK’s reliance on Russian gas due to the long time to bring projects online.

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IEEFA: Russia-Ukraine conflict adds impetus to Asia’s energy transition

Russia’s invasion of Ukraine spells further turmoil for global energy markets already reeling from extreme price volatility over the past two years. For Asian economies dependent on imported fossil fuels, volatile prices since 2020 have caused fuel shortages, exorbitant government subsidy burdens, inflation, food scarcity, and political instability. Distributed generation sources, energy storage technologies, microgrid systems, and electric transit technologies, among many other alternatives, can help countries improve self-sufficiency to create a more secure energy system.

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Hydrogen is likely to influence the geography of energy trade: IRENA

Hydrogen is likely to influence the geography of energy trade, further regionalising energy relations. With the costs of renewable energy falling, but those of transporting hydrogen high, the emerging geopolitical map is likely to show growing regionalisation in energy relations. Countries with an abundance of low-cost renewable power could become producers of green hydrogen, with commensurate geoeconomic and geopolitical consequences. As the costs of green hydrogen fall, new and diverse participants will enter the market, making hydrogen even more competitive.

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