Uncategorized

IEEFA Research

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves

October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]

IEEFA U.S.: Ratepayers face risks with Project Tundra’s retrofit of aging N.D. coal-fired plant

IEEFA U.S.: Ratepayers face risks with Project Tundra’s retrofit of aging N.D. coal-fired plant

Unproven technology funded by federal tax credits unlikely to pay off

September 22, 2020 (IEEFA) — A plan to retrofit an aging coal-fired plant in North Dakota with unproven carbon capture and storage technology is likely to raise rates for customers who get electricity from the Milton R. Young Unit 2 facility, according to a new report from the Institute for Energy Economics and Financial Analysis […]

IEEFA report: Puerto Rico Electric Power Authority debt deal weak and plagued by scandal

IEEFA report: Puerto Rico Electric Power Authority debt deal weak and plagued by scandal

Island residents face decades of unaffordable rate hikes and fees

August 21, 2019 (IEEFA) ‒ The Puerto Rican legislature will soon consider a debt restructuring deal for Puerto Rico’s Electric Power Authority (PREPA) that is unaffordable and risks jeopardizing the island’s economic recovery, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, Puerto Rico Electric Power […]

More News and Commentary

IEEFA India: The false promise of ‘second life’ coal

India risks Rs4 trillion new investment in yet more stranded fossil fuel assets

Federal Home Minister Amit Shah’s suggestion that India should invest 4 trillion rupees (US$55billion) in expanding new and existing coal mines, as well as high-risk, speculative, domestic ‘clean coal’ projects over the next decade to create a hoped for ‘second life’ is, in our view, entirely inconsistent with the country’s policy direction and ignores the […]

January 19, 2021 Read More →

Indonesia’s PLN working on green plans to build investor credibility

Saur Energy: Indonesian state-owned electricity company PT Perusahaan Listrik Negara (PLN) is preparing to issue a “green and/or sustainable financing” instrument as early as January 2021 following the publication of its Statement of Intent on Sustainable Financing Framework in November. And a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA) […]

December 24, 2020 Read More →

Pandemic, strained finances creates crisis for Indonesian power demand

The Jakarta Post ($): The COVID-19 pandemic hit the global energy market, including Indonesia, this year, as industry players were pressured by low demand due to virus containment measures. Domestic demand for fuel, gas and electricity began declining in late March, as Indonesia announced its first COVID-19 case earlier that month. President Joko “Jokowi” Widodo […]

December 23, 2020 Read More →

IEEFA Update: Coking coal’s decline likely to follow the path of thermal coal’s progressive demise

Technology disruption the likely theme of global energy markets in 2021

There has been a growing tsunami of climate commitment announcements combined with fossil fuel exclusion policies by globally significant financial institutions during December 2020, building on the pledges two months earlier by the leaders of China, Japan and South Korea committing to net zero emissions targets. On top of that, three leading corporate announcements show […]

December 22, 2020 Read More →
IEEFA: Repurposing coal plants into solar and battery can pay up to 5 times more than decommissioning
and

IEEFA: Repurposing coal plants into solar and battery can pay up to 5 times more than decommissioning

An economic proposition for coal dominant developing countries

Worldwide, coal plants are grappling with environmental issues and low capacity utilization levels. They have not only become unprofitable to utilities, they are also uneconomical to customers. While retiring end-of-life coal plants can overall be very beneficial, and indeed necessary as finance continues to exit the fossil fuel sector driven by the global energy transition, […]

IEEFA: Pakistan announces ‘no new coal-fired power’

IEEFA: Pakistan announces ‘no new coal-fired power’

Implications for coal across the Belt and Road Initiative

At the 12 December Climate Ambition Summit hosted by the U.N., the U.K. and France, Pakistan’s Prime Minister Imran Khan announced that his nation “will not have any more power based on coal”. On the face of it, this is a highly significant statement for a nation that was until now intending to exploit its […]

December 14, 2020 Read More →
IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars
and

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves

October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]

and

IEEFA: Ohio cancels permits for controversial Mountaineer storage facility

Powhatan Salt Company was to build mining wells for storing natural gas liquids (NGLs)

September 26, 2020 (IEEFA U.S.) ‒ The Ohio Department of Natural Resources announced it had cancelled permits for the Mountaineer storage project. The permits would have allowed Powhatan Salt Company to build solution mining wells for natural gas liquids (NGL) storage in Monroe County. The storage was intended to support a burgeoning petrochemicals industry in […]

and September 28, 2020 Read More →
IEEFA U.S.: Ratepayers face risks with Project Tundra’s retrofit of aging N.D. coal-fired plant
, and

IEEFA U.S.: Ratepayers face risks with Project Tundra’s retrofit of aging N.D. coal-fired plant

Unproven technology funded by federal tax credits unlikely to pay off

September 22, 2020 (IEEFA) — A plan to retrofit an aging coal-fired plant in North Dakota with unproven carbon capture and storage technology is likely to raise rates for customers who get electricity from the Milton R. Young Unit 2 facility, according to a new report from the Institute for Energy Economics and Financial Analysis […]

IEEFA update: Problems mount for PTTGCA petrochemical plant

IEEFA update: Problems mount for PTTGCA petrochemical plant

Request for permit extension raises questions about true risks

New disclosures by Thailand-based PTT Global Chemical America (PTTGCA) regarding its proposed petrochemical plant planned for Belmont County, Ohio, illuminate the financial risks facing the project. Interested citizens, community advocates and elected leaders should understand these risks and the disturbing implications for the future of the community. PTTGCA has delayed this proposed petrochemical plant numerous […]