ENERGY RELATED EU AND INTERNATIONAL NEWS
date: 27/03/2023
New Energy Efficiency Directive agreed by the European parliament and EU countries setting 11.7% reduction target by 2030
After months of negotiations, an agreement has been reached on the new Energy Efficiency Directive, which sets the reduction target at 11,7%. This will oblige the 27 EU countries to reduce the total energy consumption by about 1,5% per year. However, the target agreed can be still considered favourable to them, as they achieved a reduction compared to Parliament’s proposal of 14,5% target.
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On 16 March 2023, the European Commission presented the Net-Zero Industry Act
The Net-Zero Industry Act proposed by the EC represents a key part of the European Green Deal Industrial Plan and aims to increase the production of clean technologies in the EU, strengthening the resilience and competitiveness of net-zero technologies manufacturing in the EU countries. This is essential to ensure that the Union is well equipped for the transition to clean energy and towards a more secure and sustainable energy system.
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New Electricity Market Reform proposed to contain electricity price instability
The European Commission has proposed a reform of the EU electricity market design to boost renewables and enhance industrial competitiveness by focusing on combating gas prices volatility and providing better protection to consumers. The European Parliament and EU countries will now examine the proposal, submitted on 14th March 2023, with the objective of reaching agreement in the autumn.
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European Commission proposes to extend energy crisis measure to curb gas demand
On 20th March 2023, the European Commission proposed to EU countries to extend the emergency measure to curb gas demand for one year, from April until March 2024, in preparation to get through the next winter with scarce gas resources. This would lead EU countries to renew their voluntary target to reduce gas demand by 15% compared to average consumption in the period 2017-2022. Indeed, consumption reduction measures and generally higher temperatures last winter led to current unusually high levels of gas in storage.
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IPCC AR6 Synthesis Report: Climate Change 2023
The Intergovernmental Panel on Climate Change (IPCC) finalised the Synthesis Report for its 6th Assessment Report. The report consists of a structure more comprehensive and different from the previous one, an introduction and three main sections which cover the past, the future projections and the current policies related to the climate change. Access the report here
IEA – CO2 Emissions in 2022 report
The “CO2 Emissions in 2022” report from the International Energy Agency (IEA) provides a comprehensive view of greenhouse gas emissions related to energy consumption and industrial processes. The report presents estimates of CO2 emissions from all energy sources and industrial processes, as well as information on energy-related methane and nitrous oxide emissions.
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IRENA - Renewable Capacity Statistics 2023 report
IRENA released its Renewable Capacity Statistics 2023. The report confirms the downward trend of fossil fuel power generation, with renewables accounting for the significant growth. Asia, the USA, and Europe saw the most significant growth in renewable capacity, with China being the biggest contributor, adding 141 GW.
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China Dialogue - Landmark report on CO2 removal calls for action
A new report highlights the need for governments to incentivize carbon dioxide removal (CDR) technologies to meet the Paris Agreement goal of limiting warming to well below 2°C. The report, "The State of Carbon Dioxide Removal," states that both emissions reductions and CDR are required to achieve this goal.
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