Press Releases

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now
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IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

IEEFA: Increasing competition in India’s intra-state transmission sector will drive renewables progress
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IEEFA: Increasing competition in India’s intra-state transmission sector will drive renewables progress

Intra-state transmission infrastructure is the weakest link in the grid

16 December 2020 (IEEFA India): A new IEEFA report recommends increasing competition in the development of intra-state transmission infrastructure, to speed up deployment of renewable energy in India. “As the share of increasingly low cost but variable renewable energy grows, development of transmission systems must keep pace to meet demand and ensure efficient, reliable delivery […]

and December 16, 2020 Read More →
IEEFA: European gas pipeline companies mislead investors by underreporting CO<sub>2</sub>
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IEEFA: European gas pipeline companies mislead investors by underreporting CO2

Reporting loophole means midstream operators aren't following the same guidelines as upstream or downstream sellers

December 14, 2020 (IEEFA) — European pipeline companies are using a loophole to market themselves as low-carbon businesses and avoid reporting on the climate effects of the natural gas they transport, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report, Hiding in Plain Sight—European Gas Pipeline Companies’ […]

IEEFA: Australia should be a net-zero emissions leader
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IEEFA: Australia should be a net-zero emissions leader

Setting a target of net-zero emissions by 2050 would maximise employment, investment and export opportunities

11 December 2020 (IEEFA Australia): Australia must align itself with the global push to go carbon-neutral to maintain strong trade in a net zero emissions world, the Institute for Energy Economics and Financial Analysis (IEEFA) notes in its submission in support of a new climate change bill before the Australian parliament. The bill, introduced by Zali Steggall, […]

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IEEFA: New York State pension fund sets net-zero carbon emissions target

Fund valued at $226 billion, move signals investor shift away from fossil fuels

December 9, 2020 (IEEFA U.S.)  – In response to New York State’s announcement on Wednesday that its pension fund, one of the world’s largest, has set a net zero carbon emissions target for its investment portfolio by 2040, the Institute for Energy Economics and Financial Analysis (IEEFA) released the following statement. “IEEFA applauds New York […]

IEEFA U.S.: Frackers cut capex to $5.8 billion during third quarter, lowest level in a decade
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IEEFA U.S.: Frackers cut capex to $5.8 billion during third quarter, lowest level in a decade

Free cash flow surges as capital reductions may mark beginning of end for shale boom

December 8, 2020 (IEEFA) —Facing low prices and weak demand, a cross-section of 33 shale-focused oil and gas producers cut their capital expenditures (capex) to their lowest level in more than a decade, according to an analysis released today by the Institute for Energy Economics and Financial Analysis. Thirty-two of the 33 companies cut capex […]

IEEFA: Malaysia’s CIMB announces coal financing phase-out by 2040 as Asia’s fossil fuel divestment drive accelerates

IEEFA: Malaysia’s CIMB announces coal financing phase-out by 2040 as Asia’s fossil fuel divestment drive accelerates

The first emerging markets bank to announce a progressive coal exit policy

Malaysia’s CIMB Group Holdings (CIMB) has announced a comprehensive coal exit policy with a commitment to phase out both project and general corporate financing of thermal coal mining and coal-fired power generation across its portfolio by 2040. This is a first in several ways. CIMB is the first Malaysian bank to act on a formal […]

December 8, 2020 Read More →
IEEFA U.S.:  Appalachian frackers report $504M in negative free cash flow despite capex slashing
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IEEFA U.S.: Appalachian frackers report $504M in negative free cash flow despite capex slashing

Tide of red ink shows little sign of ebbing any time soon for shale-focused regional gas producers

December 3, 2020 (IEEFA)—Even after cutting their capital expenditures (capex) by more than one-third from the previous year, nine shale-focused gas producers in Appalachia spent a half-billion dollars more during the third quarter on drilling and building projects than they earned from selling oil and gas. Capex investments during the third quarter were the lowest […]

IEEFA Europe: COVID has exposed Polish energy company’s continuing coal dependence
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IEEFA Europe: COVID has exposed Polish energy company’s continuing coal dependence

To turn around profits, PGE must increase the renewables ambition of its ‘Strategy 2030’

December 3, 2020 (IEEFA) — The coronavirus pandemic has exposed the costs of excessive coal dependence at Poland’s largest energy company, Polska Grupa Energetyczna (PGE), highlighting the need for more renewables and greater detail on coal power plant closures under the company’s new strategy, according to a report by the Institute for Energy Economics and […]

IEEFA: India’s new record-low solar power tariff demonstrates investor confidence despite the pandemic
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IEEFA: India’s new record-low solar power tariff demonstrates investor confidence despite the pandemic

What drove the aggressive winning bid of Rs2/kWh ($0.027/kWh) in a recent solar PV auction?

India set a new record low tariff of Rs2/kWh ($0.027/kWh) in the recent Solar Energy Corporation of India (SECI) auction on 23 November 2020. The tariff based bidding was conducted for selection of solar power developers to set up 1,070 megawatts (MW) of grid-connected solar PV projects on a “build-own-operate” (BOO) basis in Rajasthan (Tranche-III). […]