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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: 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 […]

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 […]

and

Carta del IEEFA: Gobernadora Vázquez es instada a seguir un camino alternativo para la central eléctrica de San Juan

NFE enfrenta un estado financiero deteriorado que resultaría "fatal" para el proyecto

29 de enero de 2020 (IEEFA EE. UU.) – El Instituto de Economía Energética y Análisis Financiero (IEEFA) envió una carta el lunes a la gobernadora de Puerto Rico, Wanda Vázquez Garced, instándola a reconsiderar los planes para convertir las Unidades 5 y 6 de la Central Eléctrica de San Juan de diésel a generación […]

IEEFA India: India’s electricity sector transformation has made progress in 2019/20
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IEEFA India: India’s electricity sector transformation has made progress in 2019/20

Renewables tendering and auction activity suggest acceleration in the coming year

India’s electricity sector ambitions have been widely acknowledged as potentially transformational and have put India on the world centre stage in terms of reinvigorating the global drive towards the Paris Agreement. Prime Minister Narendra Modi has set ambitious, clear, long-term targets. Despite some material near-term headwinds that have developed over 2018/19, the level of ambition […]

IEEFA Puerto Rico: PREPA utility debt deal repeats mistakes of the past

IEEFA Puerto Rico: PREPA utility debt deal repeats mistakes of the past

Guest op-ed: El Nuevo Día

October 6, 2019 (El Nuevo Día) ‒ The people of Puerto Rico are about to be hit with an unaffordable $8.2 billion debt deal that will increase electricity rates for 47 years, hurting the island’s economic recovery. And no one in the Puerto Rican government or the Puerto Rico Electric Power Authority (PREPA) is able […]

October 7, 2019 Read More →

European Investment Bank considers fossil fuel exit while others fail to follow suit

Bloomberg: The European Union’s investment bank’s board is considering ending its financing of fossil-fuel businesses — a move that climate activists have hailed. But there’s little chance the larger finance industry will follow suit any time soon. That’s because while bankers talk up their green financing, big oil is still big business for big banks. […]

October 3, 2019 Read More →

IEEFA letter: Waiting for Bill Gates’ “energy miracle”

Tech innovator underrates importance of divestment movement

Environmentalists agree with Bill Gates that massive investment in low-carbon innovation is urgent (“Fossil fuel divestment has ‘zero’ climate impact”, September 18). However, the billionaire overlooks the major contribution the divestment movement is making in this uphill battle. Fossil fuel-free investing is, in fact, low-risk and profitable. The financial numbers on the fossil fuel industry’s […]

September 27, 2019 Read More →
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IEEFA report: Gujarat can lead renewables race in India

Improved policies and potential of low-cost solar and wind to accelerate transition

August 27, 2019 (IEEFA India) — In a race to be the top state in India, the Institute for Energy Economics and Financial Analysis (IEEFA) has modelled the economic powerhouse Gujarat adding a staggering 46 gigawatts (GW) of new renewable energy capacity by 2029/30, in a new report out today. The report, Gujarat’s Electricity Sector Transformation […]