Europe

IEEFA Research

IEEFA update: U.K. pension funds lag in renewable energy infrastructure investing

Abundant offerings across a number of markets

LONDON — Local U.K. government pension schemes are gradually increasing their unlisted infrastructure holdings, driven by examples set by trail-blazing funds and by a new government initiative to increase the scale of such investments. But few are investing explicitly in renewable energy, the biggest single segment of infrastructure investment in the world (infrastructure investing involves real […]

July 19, 2018 Read More →
IEEFA report: Poland’s biggest utility is risking financial instability by doubling down on coal-fired generation

IEEFA report: Poland’s biggest utility is risking financial instability by doubling down on coal-fired generation

New EU emissions regulations raise compliance issues at PGE; Outdated business model may cost billions; ‘An accelerated deployment of renewables’ makes more sense

June 13, 2018 (IEEFA) – New air pollution regulations coupled with rising carbon prices put Poland’s biggest utility, PGE, at serious risk of financial disarray if it continues to pursue a coal-heavy upgrade strategy, concludes a report published today by the Institute for Energy Economics and Financial Analysis. A strategic shift toward a renewable energy-based […]

IEEFA Report: U.K. Pension Funds Can Benefit Now From Renewables Infrastructure Play

Growth and Proven Returns in a Rapidly-Expanding Sector

Nov.15, 2017 — A new report by HSBC Global Asset Management and the Institute for Energy Economics and Financial Analysis (IEEFA) finds that U.K. pension funds can benefit now from investing in domestic and overseas renewable energy infrastructure. Commissioned by the City of London Corporation’s Green Finance Initiative, the report, “The Renewable Energy Infrastructure Investment […]

November 14, 2017 Read More →
IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

New Emissions Rules Loom Large Across EU; Gas-Fired Generation and Renewables Present Better Investment Opportunities; Major Utilities Are Out of Step With Markets

October 25, 2017 (IEEFA.org) — A research paper published today by the Institute for Energy Economics and Financial Analysis finds that plans by Enel Group’s Spanish-subsidiary Endesa to sink €400 million into upgrading three aging coal-fired plants is a likely loss-making proposition under new European Union emission-control rules. The report—“How European Utilities Can Capitalize on […]

October 26, 2017 Read More →
IEEFA Report: European Coal Sector Woes Deepen With New Air Quality Mandate; One-Third of Existing Capacity Must Retrofit or Close

IEEFA Report: European Coal Sector Woes Deepen With New Air Quality Mandate; One-Third of Existing Capacity Must Retrofit or Close

More Headwinds for Major Utilities; New Limits Affect 108 Plants; Implications for Investors, With Gas and Renewables Emerging as Preferred Power-Generation Fuels

May 8, 2017 (IEEFA.org) — More than 100 separate power plants—representing one-third of Europe’s large-scale coal-fired power plant capacity—face costly air quality upgrades or closure as a result of new European Union emissions limits, according to an analysis published today by the Institute for Energy Economics and Financial Analysis (IEEFA). “These regulations will further undermine and […]

IEEFA Update: A Rush to Subsidies as Power Plants in Europe Face an Existential Threat

IEEFA Update: A Rush to Subsidies as Power Plants in Europe Face an Existential Threat

Paying Producers for Electricity They Might Never Generate

  So-called capacity markets are driving what appears to be a major new trend in energy policy across Europe: More public subsidies for electric utilities. Utilities may get—but not necessarily need or deserve—high-level government support for a variety of reasons, including for their role in equity markets, where they supply returns and dividends for pension […]

December 13, 2016 Read More →
IEEFA Europe: Can Coal Power Hang On?

IEEFA Europe: Can Coal Power Hang On?

Investors May Not Be Eager to Absorb More Losses Like Those Seen in Recent Dutch Build-Outs

Investment in new coal-fired power plants appears off the agenda in Western Europe. Witness the astonishing write-down of brand-new assets in the Netherlands, where European utility giants RWE, Uniper, and Engie have drastically reduced their valuations of plants barely a year old (read the report we published this morning, “The Dutch Coal Mistake,” which concludes […]

November 30, 2016 Read More →
IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

Foundation-Based Approach to Closure and Clean-Up; New Czech Owners of Vattenfall Assets in Lausitz Can Afford to Foot the Bill; a Timeline That Helps Local Communities Prepare for Transition

The recent “sale” by the Swedish state-owned utility Vattenfall of its German lignite assets throws a harsh light on a dark paradox: the continued use of the world’s most carbon-intensive fuel by a country with some of the most ambitious targets to tackle climate change. The deal transfers a cluster of lignite mines and their […]

September 22, 2016 Read More →

More News and Commentary

Rise in European carbon prices a ‘big win’ for renewables

The Guardian: The amount polluters pay for emitting carbon in the EU has hit a 10-year high, in a blow for coal power station owners and a boost for renewable energy. The price of carbon in the bloc’s emissions trading scheme reached €18 (£16) per tonne on Monday, triple the level a year ago. About […]

August 14, 2018 Read More →

EU regulatory shift has electricity-usage behavior changing by 2020

Reuters: Most utilities have long offered cheaper night-time tariffs, but new EU rules expected in 2020 will require them to provide more flexible options that encourage customers to use power during sunny or windy periods, at varied times of day or when businesses are shut at weekends. These kind of flexible “dynamic pricing” contracts are […]

August 3, 2018 Read More →

Shift to renewables across Enel’s global footprint exceeds projections

S&P Global/Platts: Italy’s largest power company Enel said it expects to beat its own renewable addition targets by 2020, as it pivots its generating model away from coal and grows its renewable footprint both in Europe and worldwide. CEO Francesco Starace told analysts on a conference call Tuesday evening that 90% of the company’s 7.8 […]

August 2, 2018 Read More →

Skeptics question hype around U.S. gas export market in Europe

Washington Post: Europe is unlikely to veer from its current plans to build a small number of new plants for importing liquefied natural gas, energy experts said, casting doubts on President Trump’s claims Monday that he had secured commitments from the European Union for the construction of nine to 11 plants to boost U.S. exports. […]

July 31, 2018 Read More →

Poland’s coal-related mercury emissions revised upward, significantly

MetaMag: Polish coal-fired power plants may be cheating the European Union when reporting their toxic mercury emissions, Gazeta Wyborcza reports. As a result, a huge year-on-year increase in emissions from Europe’s biggest coal plant may be even higher than first thought. Last month META broke the story that mercury emission from Polish coal had jumped […]

July 26, 2018 Read More →

New European wind capacity to hit 13.5 GW in 2018, trade group says

Reuters: Europe looks set to install 13.5 gigawatts (GW) of new wind power capacity this year, slightly lower than last year’s record of 15.6 GW, according to estimates by industry group WindEurope. In the first half of this year, Europe installed 3.3 GW of onshore wind, mainly in Germany, France and Denmark. A further 1.1 […]

July 26, 2018 Read More →

IEEFA update: U.K. pension funds lag in renewable energy infrastructure investing

Abundant offerings across a number of markets

LONDON — Local U.K. government pension schemes are gradually increasing their unlisted infrastructure holdings, driven by examples set by trail-blazing funds and by a new government initiative to increase the scale of such investments. But few are investing explicitly in renewable energy, the biggest single segment of infrastructure investment in the world (infrastructure investing involves real […]

July 19, 2018 Read More →

More renewable energy records set in Europe

Quartz: This week, two of the biggest economies in Europe set new records for clean energy. The U.K.’s electrical grid has not burned any coal for about 1,000 hours so far this year. Though it’s just a symbolic achievement, the pace at which the UK is reaching such figures shows the pace of the energy […]

July 16, 2018 Read More →

IEEFA Europe: France, Germany and the U.K. are not on the same nuclear page

Policy muddle as one big EU economy hits pause on reactor buildout, another moves toward shutdown, a third plans expansion

LONDON — Europe’s three leading economies are taking three radically different approaches to nuclear power, reflecting contrasting national public priorities in a transition from fossil fuels, and showing the scale of government intervention in energy policy. France, Germany and the U.K. are all global top-20 generators of nuclear power by market share. France is No. […]

July 11, 2018 Read More →

Sweden on track to hit 2030 renewable target by year end

Bloomberg: Swedish utilities and power generators have already installed so many wind turbines that the Nordic nation is on course to reach its 2030 renewable energy target late this year. By December, Sweden will have 3,681 wind turbines installed, lobby Group Swedish Wind Energy Association estimates. Together with second-half investment decisions, that will be more […]

July 5, 2018 Read More →