ENERGYQUOTE JHA
MAY 2015 EDITION
MARKET INSIGHT
A Unique Perspective
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A Unique Perspective | Market Insight | May 2015 Edition
Germany focuses on emissions, Eastern Europe could play part in energy security The economic viability of some 53% or 39 of the power plants planned for construction by 2025 has been called into question by German energy industry association BDEW. The association said investors were nervous because of lacking profitability for coal- and gas-fired power stations because of competing energy supplies from subsidised renewable power, and a tougher carbon emissions regime. But a lot of the comment from the BDEW is indeed alarmist and there is ample evidence that the energy transition is starting to bear fruit. German CO2 emissions have fallen for the first time in three years as the country’s high profile switch to renewable energy takes hold. Germany still spends large sums on importing crude oil, natural gas and hard coal. In 2012, import costs ran as high as €90 billion. To reduce this dependence and still reach its self-defined climate targets, Germany seems determined to continue pushing the energiewende. But nine months before the climate conference in Paris, pressure on Berlin to deliver measurable progress is growing – with an emissions reduction target of 40% compared to 1990 levels by 2020. The International Energy Agency (IEA) has released a review of energy policies in 11 countries of Eastern Europe, the Caucasus and Central Asia that play a significant role in world energy security. Four of the countries – Kazakhstan, Turkmenistan, Azerbaijan and Uzbekistan – possess substantial oil and gas resources in the Caspian Sea, which offer game-changing potential for energy consumers in Europe and Asia.
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Other countries like Ukraine, Georgia and Belarus are important transit countries in the region, and their stability is paramount to energy security. The IEA calls continued sustainable energy policy reform and enhanced energy security. Rapid implementation of renewables and energy efficiency policies is essential to energy security of smaller economies dependent on imports, but it is also a key means for producing countries.
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