Slovakia's dominant utility enterprise, Slovenske Elektrarne (SE) has submitted a counterproposal to the Slovakian government’s plans to introduce a tax on "excess profit" on nuclear power output. In a statement last week, Slovenske Elektrarne said the proposed tax would result in deep losses for the company. In turn this could lead to banks' rejecting proposals to put off debt payments, possibly inviting bankruptcy.
Europe is seeing a gas price surge five times the average. The continent has historically depended on gas fuel - a fifth of its energy- especially during the winters when other sources of energy aren’t reliable. Yet, most of it comes from outside Europe, especially from Russia (via the Nord Stream). We have rounded the top importers in Europe and where they get their gas from.
The European Commission is expected to publish its "sustainable finance taxonomy", a set of long-anticipated rules on which businesses can attract climate-friendly investments in January 2022. Discussions between member states and the EU have been circling majorly around whether nuclear energy and natural gas will be identified as climate-friendly investments.
Renewable energy projects across Great Britain can now bid for funding in the 4th round of the Contracts for Difference (CfD) scheme, which is aiming to secure 12GW of electricity capacity - more renewable capacity than the previous 3 rounds combined. The additional offshore wind capacity resulting from the funding alone could generate enough electricity to power around 8 million homes.
Offshore wind could deliver 45% of Sweden's electricity needs by 2050, according to a study commissioned by the country’s wind energy trade body and five member companies. The report by Thema Consulting Group found that Sweden's electricity needs could be 370 terawatt-hours (TWh) by 2050, almost three times the current consumption of 140TWh.
The Australian Parliament has finally passed a bill to enable development and operation of offshore wind farms in the country. The Offshore Electricity Infrastructure Bill 2021 establishes a regulatory framework for the industry in commonwealth waters. The bill will enable Australia to tap into the offshore wind potential offered by its coastline of over 25,000 kilometres.