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The Energy Union

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Some information on the European Energy Union
http://ec.europa.eu/priorities/energy-union/index_en.htm

Published in: Economy & Finance
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The Energy Union

  1. 1. Energy Union 10/03/2015
  2. 2. Energy Union • Reduce dependence on single suppliers: – Southern Gas Corridor from Azerbeidjan to Italy – Strategy for LNG and its storage – Liquid hubs in Central, Eastern Europe and Spain • More power and independence for EU regulator ACER • Align security supply legislation and coordinate capacity mechanism development • Energy flows: – 10% interconnectivity by 2020 (probably 15% by 2030) – 27% renewable energy by 2030 • Energy efficiency and decarbonisation in buildings and transport sector • Market Stability Reserve mechanism to fix EU ETS
  3. 3. Energy flows – How about Belgium? • Current situation: – Physical capacity: 6.247 MW – Commercial capacity: + 3.500 MW • Current projects: • Total production capacity 2013: 20 860,2 MW • Statistics 2013: https://www.febeg.be/statistiek-elektriciteit Project Border Capacity (MW) Commisioning Stevin North Sea-BE 6.000 Early 2018 Brabo BE-NL 1.000 Late 2018 Alegro BE-DE 950-1.200 Early 2019 Nemo BE-UK 1.000 Early 2019 Creos BE-LU 1.000 2020
  4. 4. EU Emission Trading System • Installed in 2005 to incentivize green technology investment • Non-dynamic supply side caused oversupply of emission rights (crisis and industrial lobby) and too low carbon prices (04/03/2015: 7,08 €/t) • EU aims to fix system through: – Backloading emission rights to end of trading period (executed in 2013) – Market Stability Reserve (MSR): central bank system for emission rights to lift and control carbon price (target price: 30 €/t) • Original proposal: start in 2021 (new trading period) • Proposal being discussed: start in 2019 (withhold backloaded emission rights) • Timing new proposal: – Industry committee failed to form positive opinion (non binding) – Environment committee approved proposal on February 24th 2015 – Council of the EU (member states) unable to find common negotiation position • Main conclusions: – No decision on MSR possible as long as member states are unable to find majority in favor – Continue with current strategy until decision is taken
  5. 5. Other interesting sources • Five views on the Energy Union: http://www.naturalgaseurope.com/five-views-energy- union-assessment-hurdles-22407
  6. 6. Joke Bruneel Marketing & Communications Officer m: +32 56 25 24 25

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