E.ON chief Teyssen talks Trump and clean energy

The chief executive of E.ON, Johannes Teyssen, says new US President Donald Trump is a clear opponent of efforts to tackle climate change, and will wait to see how this opposition manifests itself in the energy space.

President Trump has clearly distanced himself from climate protection during his election campaign: for him it does not appear to be much more than a disguised attack by the Chinese on American jobs,” Teyssen told Handelsblatt. “How this will translate into concrete government policies is still unclear. But no one seriously believes that President Obama’s climate action plan will simply continue.”
Johannes Teyssen
E.ON owns billions of euros worth of wind energy parks in the United States. Another European company with a keen interest in how events are unfolding in the US is Denmark’s Vestas.

More than 40 per cent of the company’s revenue came from the Americas in 2015.

The US Environmental Protection Agency will delay implementation of the Renewable Fuels Standard as part of a freeze on regulations imposed by Trump’s administration, trade groups said on Tuesday.

It means delayed implementation of 30 EPA rules that were finalized in the last weeks of Barack Obama’s presidency. Before Trump took office, the US congress passed a production tax credit, or PTC, that will give tax breaks to wind producers until 2020.

Much of America’s Midwest already generates a significant proportion of its electricity from wind power, according to the American Wind Energy Association.

Despite potential resistance on the part of the new president, Teyssen believes the global transition to renewable energy is unstoppable.

“The Energy transition is no longer a political project that could be delayed and controlled by a government and trumped by Trump, which is, I think, an encouraging development,” Teyssen said at the Handelsblatt energy industry event in Berlin. “He had not been in office for an hour when a new White House website went online – climate politics and other things could not be found on it, and what really follows from government policy is still unclear.”

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