In this edition, coverage and attention turn to Dublin talks this week, covered here: Europe’s Carbon Market Eyes Assurances on Fix From Ministers. And, the World Bank weighs in in a PBS interview: World Bank President: Climate Change Is Urgent ‘Today’ Problem.
Quote of the Day:
“The market is currently supported by the hope of some market participants that backloading will come back. I am not sure if this is realistic but focus will be on this week’s meetings in Dublin.”
–Ingo Ramming, co-head of commodity solutions at Commerzbank, in Bloomberg’s “Europe’s Carbon Market Eyes Assurances on Fix From Ministers”
Europe’s Carbon Market Eyes Assurances on Fix From Ministers
Investors in Europe’s 54 billion- euro ($71 billion) carbon market will be looking at the bloc’s ministers meeting in Dublin this week for assurances that governments will try to keep alive a plan to bolster prices.
RPT-Fitch: Future CO2 Prices Remain Risk for Utilities After EU Vote
Tuesday’s decision by the European Parliament to reject the carbon allowances backloading plan will cement coal-fired power stations’ advantage over natural gas-fired in the short term, Fitch Ratings says. However, it does little to reduce uncertainty about prices in the medium term, which is one of the main risks facing EU power generators. In this environment, a diversified and flexible generation fleet is the most positive for a utility’s credit rating.
China Plans to Complete Climate Change Draft Law in Two Years
China plans to draw on the experience of seven regional carbon markets as it drafts new national legislation in one or two years, according to the country’s lead climate negotiator.
China and India talk up plans for national climate action
China and India have both signalled this week that they will deliver ambitious climate change policies within the next few years, including the creation of a Chinese national carbon market and a doubling of India’s renewable energy capacity by 2017.
ABB Buys Power-One for $1 Billion to Add Solar Inverters
ABB Ltd. (ABBN) agreed to acquire Power- One Inc. (PWER) for about $1 billion, giving the world’s biggest electricity-networks builder inverters that allow solar power to be fed into grids.
Solar power finally makes more energy than it uses
Last year, U.S. energy-related carbon emissions were at the lowest levels since 1994, emitting “only” 5.3 billion metric tons of carbon.
India Plans Subsidies to Boost Solar-Power Sector
The Wall Street Journal
The Indian government will unveil proposed regulations Monday to create subsidies and expand a “Buy Indian” mandate to give a boost to its lackluster solar-power sector, putting it on a collision course with the U.S.
German talks on energy price curb collapse-govt spokeswoman
German government talks on introducing a brake on rising energy bills have collapsed and the federal chancellery has given up on attempts to get an agreement with states, a government spokeswoman said on Saturday.
World Bank President: Climate Change Is Urgent ‘Today’ Problem
“If we have any hope of keeping climate change below two degrees celsius, the peak year of carbon emission has to be 2016,” said Jim Yong Kim, president of the World Bank. “So the challenge is right in front of us.”
How can Australia respond to Europe’s carbon crisis?
The shockwaves from the European Parliament’s rejection on Tuesday of the EU ETS ‘backloading’ proposal have rapidly spread to Australia’s shores.
Quebec, California not so distant when it comes to climate change
The Globe and Mail
Climate change has no boundaries. It affects everyone in our global community. Actions taken in one place – like increasing emissions at an old power plant – have a negative impact on those living half a planet away. For this reason, effective solutions to climate change must also have no boundaries.
Bachmann, conservative groups ask Supreme Court to stop EPA climate rules
The Hill’s E2 Wire
Conservative groups and a dozen House Republicans are petitioning the Supreme Court to review an appellate decision that upheld the Environmental Protection Agency’s power to regulate greenhouse gas emissions.
Empowering Women, One Carbon Ton At A Time
In an effort to empower women in developing countries, one organization is adding another standard to the carbon mix that aims to use the revenue from carbon credits to improve their livelihoods.
Study: Fracked gas far more climate-friendly than coal
The Hill’s E2 Wire
Natural gas produced in the northeast’s booming Marcellus shale region leads to far fewer greenhouse gas emissions than coal, a competing source of electric power, according to a new study by Exxon Mobil’s research arm.
Keystone Pipeline Foes Vent in Nebraska
The New York Times
Hundreds of people braved heavy snow and wind on Thursday, streaming into this central Nebraska town to speak out on the Keystone XL pipeline at what may be the final public hearing on the project.
EPA proposes water pollution rules for power plants
The Hill’s E2 Wire
The Environmental Protection Agency (EPA) proposed new regulations Friday that aim to reduce water pollution near nuclear and fossil fuel-fired power plants.
California Power Facing Biggest Test Since Enron
California may face the biggest regional power shortages in more than a decade this summer, sending wholesale prices higher, as idled nuclear reactors and low hydroelectric output cut generating capacity.
Renewables Investment Seen Tripling Amid Supply Glut
The plunge in the cost of wind and solar power that bankrupted more than two dozen manufacturers is forecast to spur a tripling of investment in renewables by 2030 and to reduce the grip fossil fuels have on world energy supply.
Google Sees Renewable Energy Tariffs as New Utility Product
Google Inc. (GOOG), which has invested more than $1 billion in renewable energy projects and buys wind- generated electricity, said utilities should offer large customers more options for using clean power.
SMA Solar Says Insecurity Over China Dumping Fees Hurting Orders
SMA Solar Technology AG (S92) Chief Executive Officer Pierre-Pascal Urbon said speculation over possible anti-dumping fees for Chinese solar products in Europe is weighing on orders at the world’s biggest maker of inverters.
COLUMN-Wind power will raise costs for coal, gas generators:Kemp
Forcing coal and gas-fired power plants to ramp up and down more frequently to compensate for the growing number of wind farms connected to the power grid will reduce their efficiency and increase maintenance costs.
States shine in new solar jobs interactive map
The Solar Foundation is making it easier to track solar jobs with the State Solar Jobs Map, an interactive online tool showing job numbers for all 50 states.
Clearing the Air: Reducing Upstream Greenhouse Gas Emissions from U.S. Natural Gas Systems (Posted April 8, 2013)
World Resources Institute
The State of Green Business 2013 (Posted February 12, 2013)
Can the US Get There from Here? (Posted February 6, 2013)
The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)