Sunday

25th Sep 2022

Analysis

Investors in renewables face uncertainty due to EU profits cap

While a cap on revenues from renewables is aimed at redirecting excess profits from low-cost electricity generation back to consumers, analysts and industry groups argue such measures come with risks — and at a bad time.

News in Brief

  1. More Russians now crossing Finnish land border
  2. Report: EU to propose €584bn energy grid upgrade plan
  3. Morocco snubs Left MEPs probing asylum-seeker deaths
  4. EU urges calm after Putin's nuclear threat
  5. Council of Europe rejects Ukraine 'at gunpoint' referendums
  6. Lithuania raises army alert level after Russia's military call-up
  7. Finland 'closely monitoring' new Russian mobilisation
  8. Flights out of Moscow sell out after Putin mobilisation order

Column

'Emancipatory catastrophism' — why being scared works wonders

The current energy crisis is a good example of "emancipatory catastrophism" — the idea that humanity only moves forward out of fear for a catastrophe. Sometimes one needs a looming disaster to change what should have been changed long ago.

EU sanctions hamstrung by threat to food security

The EU has lifted some restrictions on the trade and financing of Russian coal and chemical to avoid an energy and food security crisis in poorer countries, but the upcoming ban on oil may have an even deeper impact.

Join EUobserver

Support quality EU news

Join us

MEPs agree higher renewables targets, energy-savings

The European Parliament agreed on higher renewable and energy-saving targets for energy consumption in the EU — amid an energy crisis which has prompted the EU to put forward unprecedented measures to curb high energy prices.

EU unveils energy crisis plan, but warns of difficult 'winters'

Crisis measures include imposing cuts in power-consumption across the bloc, a cap on the excess revenues made by renewable and nuclear energy, and a "solidarity mechanism" to channel the massive and unexpected profits of fossil fuel firms to citizens.

Interview

'We need different tools to deal with inflation'

Instead of suppressing the entire economy to tackle inflation, the economist Isabella Weber says a less damaging way to address it is by directly controlling the price of essential resources — like gas and energy.

EU energy ministers' meeting ends with 'no decision made'

EU energy ministers met for an extraordinary council meeting to discuss a unified European response to the energy crisis — but no decision was reached, with negotiations likely continuing until the end of September.

Opinion

The emperor has no clothes, why won't the EU see it?

Instead of programming structural investments to achieve energy independence and shatter the oligopoly of big energy companies, the EU delayed any kind of statement or intervention that could reveal that the Emperor — the market — has no clothes.

Von der Leyen unveils energy crisis plan ahead of key meeting

The new energy plan includes a mandatory target to reduce peak electricity consumption, a cap on excess revenues by renewables and nuclear firms, a solidarity mechanism to channel fossil fuel companies' profits to citizens, and a temporary state aid framework.

Netherlands warns against EU carbon credit sell-off

Selling more carbon credits to industry — as EU Commission plans have proposed — could increase pollution and "undermines" trust in the bloc's carbon markets, Dutch finance minister Sigrid Kaag warned.

Europe burned more gas for power despite crunch

Europe's energy supply from both hydro power and nuclear is down by double-digit percentages so far this year, despite the need to diversify from interrupted Russian gas supplies.

EU now mulling options to reduce electricity demand

The EU mulls measures to cut electricity demand, as part of its efforts to tackle skyrocketing energy prices, after focusing efforts on reducing gas consumption amid concerns that Russia could further curb gas flows.

Opinion

EU needs to act on the science to preserve oceans

As a Green MEP, ex-environment minister and former vice prime-minister of Sweden, Isabella Lovin spent many years advocating for ocean conservation and the welfare of fisheries dependent communities. The UN Ocean Conference in Lisbon was all words, no action.