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European gas market fundamentals look increasingly disconnected from the global market. Strong gas demand growth across the Asian regions is continuing to keep global balances tight and support a gentle rally at the front of the curve, with rising European gas prices and a stronger term structure again defying soft European demand fundamentals in the third quarter. Whether it is […]
This study provides an overview of the current and future levelized cost of electricity (LCOE) for various power generation technologies. The LCOE for potentially newly constructed coal-fired power plants (hard coal and lignite) exceeds 15 €cents/kWh due to rising CO2 certificate prices. Combined cycle gas turbine (CCGT) power plants have lower LCOE, ranging between 10.9 and 18.1 €cents/kWh. Gas turbine […]
This briefing argues that industrial electrification can decarbonise most industrial processes, given the potential to directly electrify an estimated 90% of remaining industrial energy demand. What does this mean for gas networks and for natural; gas demand? Electrified systems are much less vulnerable to global fossil fuel market shocks. Currently, over half of Europe’s industrial energy consumption is still based […]
This report looks how high energy market prices have affected supported renewable energy sources (RES) in Europe. It explores whether supported RES installations could exit and re-join any given support system during the high market price phase, outlining the structure of these systems. The paper also examines whether rules for renewable energy communities were already in place in 2022 and […]
Since the second quarter of 2023, output of the EU27 chemicals industry has started to show a slight upturn. But energy is still more expensive than before the crisis and not competitive on a global scale. European gas prices – currently 4.7% times higher than in the USA – need to decrease, and overall business confidence in the chemical industry […]
This paper examines the outlook for MENA’s main natural gas exporters to Europe, namely Algeria, Libya, Egypt, and Qatar, and identifies both the market and regulatory challenges ahead. The context and conclusions of this paper apply not only to the main existing MENA gas exporters to Europe, but also to other potential MENA gas exporters, especially those located in the […]
The Greek NECP plan provides for two new gas plants (877 MW and 840 MW, respectively) -now under construction- to be added to the current fleet (6,037 GW), bringing the total installed capacity in 2030 to 7,885 GW. The authors argue that these may not be necessary. This 13-page analysis describes the discrepancy between Greece’s draft plans to boost gas […]
Prices in the EU ETS have declined since the beginning of 2023. This was due to a combination of lower demand for emission allowances from weak industrial activity, falling natural gas prices and decarbonisation of the European energy sector, along with increased supply following the decision to auction additional allowances to finance the REPowerEU plan. Emission allowance auctions remain significantly […]
Modelling shows that EU emissions reduction target is feasible technically and is in line with social acceptability and global fairness objectives. Achieving it will require massive expansion of renewable electricity generation, drastic reductions in fossil-fuel use, energy efficiency measures and deep electrification of end-use sectors. The European Commission has recommended that the European Union should cut greenhouse gas emissions by […]
