PEI Connect: Is Europe facing an energy crisis?

Europe power sector
Image credit: Stock

PEi Connect provides a brief look at what got our attention during the week (09-16 Sep), and first up we focus on the impact of high gas prices and low renewable energy yield and what that could mean for Europe, as the region heads for chilly winter months.

Europe’s power crunch

Image by Oleg Gamulinskiy from Pixabay

European power prices are reaching record highs due to high gas prices and high carbon prices and analysts warn the region could face supply crunches as wind levels drop and coal is phased out.

An interesting analysis by CNBC’s Sam Meredith provides some insight into the causes behind market nervousness the potential impact of market volatility. Read more.

Global collapse of coal pipeline

coal
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A new report released by climate think tank E3G has found a 76% reduction in proposed coal power since the Paris Agreement was signed in 2015, bringing the end of new coal construction into sight.

Report author Chris Littlecott, Associate Director at E3G, said: “The economics of coal have become increasingly uncompetitive in comparison to renewable energy, while the risk of stranded assets has increased. Governments can now act with confidence to commit to ‘no new coal’.” Read more the about report.

TIME Magazine’s top 100 influences

TIME has released its list of the top 100 influential people of 2021. On the list are International Energy Agency executive director, Fatih Birol, Tesla CEO, Elon Musk and vice president of the European Commission, Frans Timmermans.

Cities are key to our net zero future

clean energy
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An interesting article by the International Energy Agency (IRENA) looks at how cities can catalyse the shift to a low-carbon future.

The dominance of fossil fuels in the urban energy supply puts cities on the frontline of climate change however, there are four cities that, despite limited funds and policy support, are taking sustainable energy action.

From solar power in Uganda to geothermal powered heating in Serbia. Read more about how cities are innovating to achieve energy transition.

Connect with us next week for another selection of interesting sector news.

Until then, take care, stay safe and power on.

The PEi Ed team 🙂

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