In this edition, don’t miss the featured interview with Nodal Exchange’s Paul Cusenza on power trading. Trading takes the focus in Bloomberg’s U.K. Regulators Probe Gas Market Fixing Allegations and EU Plans Delay of 900 Million Carbon Permits to Curb Surplus. Hefty coverage of the IEA’s latest report is seen in IEA slams ‘epic failure’ of global energy efficiency policy from Business Green and elsewhere.

Quote of the Day:

“Action to improve energy efficiency could delay the complete ‘lock-in’ of the allowable emissions of carbon dioxide under a 2°C trajectory – which is currently set to happen in 2017 – until 2022, buying time to secure a much-needed global climate agreement.”

–Fatih Birol, IEA chief economist and the WEO’s lead author, in Business Green’s “IEA slams ‘epic failure’ of global energy efficiency policy”

Lead Stories

Nodal Exchange CEO Paul Cusenza Discusses The Grid and How Power Trading is Changing
MarketsWiki.tv
Nodal Exchange CEO Paul Cusenza spoke with JLN Editor-in-Chief Jim Kharouf about how the power markets are changing, the impact of Dodd-Frank on the industry and the growth potential for Nodal Exchange and the power markets. Nodal Exchange is the first commodities exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American power markets.
http://jlne.ws/Q8Aqr5

U.K. Regulators Probe Gas Market Fixing Allegations
Bloomberg
The U.K. government is “extremely concerned” about allegations that the wholesale natural gas market has been manipulated by some of the nation’s biggest power companies, Energy Secretary Ed Davey said.
http://jlne.ws/RPYpJP
**RKB – Coverage of these developments continue in Natural Gas section.

EU Plans Delay of 900 Million Carbon Permits to Curb Surplus
Bloomberg
The European Union proposed to delay sales of as many as 900 million carbon permits to curb an oversupply in the world’s biggest emissions market.
http://jlne.ws/TWwpoA
**RKB – The nitty-gritty: The draft backloading measure needs qualified-majority support from national governments to become law. Its formal adoption, which also requires a three-month scrutiny by member states and the European Parliament, will take place only after the parliament votes on a separate law change to reassert the commission’s right to decide about the timing of auctions, Climate Commissioner Connie Hedegaard said today in Brussels.

Govt dismisses carbon profiteering claims
New Zealand Fairfax Media
When bugman Rudd Kleinpaste told a gathering of honey producers and retailers on Monday that motorists were paying $25 for carbon at the petrol pump when it was trading on the carbon market for a dollar, it was not the first time the allegation has received a public airing.
http://jlne.ws/TWGGkL

Do cap-and-trade systems work?
San Francisco Chronicle
Europe already has a carbon cap-and-trade system similar to the one California will launch on Wednesday. The northeastern United States does too, albeit in a far more limited form.
http://jlne.ws/RPZscM
**RKB – Basic stuff here, although is trying to make the point to the average reader that California can learn from the ETS and RGGI’s supply issues.

Companies in Asia expect to profit from climate-change regulations
China Dialogue
The Carbon Disclosure Project’s latest report on Asia points to corporate enthusiasm for climate-change policies. But, in China, just one company reports a fall in emissions intensity.
http://jlne.ws/SRlLMQ

IEA slams ‘epic failure’ of global energy efficiency policy
Business Green
Energy efficiency could halve predicted growth in global energy demand, securing extra time for governments to forge an effective international climate change deal, according to a major new report from the International Energy Agency (IEA) that today warns climate change is again slipping down the political agenda.
http://jlne.ws/QCtmmp
**RKB — Interesting assertions in the latest World Energy Outlook.

U.S. to overtake Saudi as top oil producer: IEA
Reuters
The United States will overtake Saudi Arabia and Russia as the world’s top oil producer by 2017, the West’s energy agency said on Monday, predicting Washington will come very close to achieving a previously unthinkable energy self-sufficiency.
http://jlne.ws/RyBGRl

Commentary: It is time to deliver some energy efficiency excitement
Business Green
Successive governments have failed to grasp the full potential of an ambitious scaled up approach to energy efficiency. “More is more” has been the standard approach to energy. That is about to change. The UK now has a huge opportunity to lead the world on energy efficiency and the Coalition Government is determined to grasp this opportunity with both hands. I am proud of the Energy Efficiency Strategy we have published today – a first in Britain.
http://jlne.ws/TFzBCV
**RKB — The guest voice for Business Green: The Rt Hon Gregory Barker, MP, Minister of State for DECC

Renewable Subsidies ‘Unaffordable’ at $725 Billion, Bank Says
Bloomberg
The cost of subsidizing renewables in Europe’s five largest power markets is becoming unaffordable for consumers and utilities who will share the 570 billion-euro ($725 billion) bill, according to Credit Suisse Group AG. (CSGN).
http://jlne.ws/RTSFgS

Energy Efficiency Can Buy Five Years for Climate Deal
Bloomberg
Adopting measures to promote energy efficiency can buy the world an additional five years to seal a climate-protection deal and would amount to a low-cost “hidden fuel,” the International Energy Agency said.
http://jlne.ws/TFubrv

The Asia Report: Australia Lays Out 2050 Renewable Energy Vision
Renewable Energy World
Renewable energy sources could rapidly expand to provide 40 percent of Australia’s energy needs by 2035 and 85 percent by 2050 and virtually eliminate coal-fired power stations, the nation’s government said in its long-delayed energy white paper.                             
http://jlne.ws/Sht7bO

Modest climate aid dismays developing nations
The Age
Rich nations are dismaying developing countries with pledges merely to continue aid to help them combat climate change in 2013 despite past promises of a tenfold surge to $US100 billion ($96 billion) a year by 2020.
http://jlne.ws/SY0e7z

Events

The economics of carbon taxes
AEI, Brookings Institution, IMF, Resources for the Future
Nov. 13, 2012
Washington D.C.
http://jlne.ws/TWQ7R8

Doha Climate Change Conference
United Nations Framework Convention on Climate Change
Nov. 26-Dec. 7, 2012
http://jlne.ws/Txxpzj

Carbon

EU to Stop Enforcement of Carbon Curbs on Foreign Flights
Bloomberg
The European Union plans to freeze implementation of greenhouse gas curbs on flights into and out of the EU until September next year, while countries worldwide negotiate a global pact to cut pollution.
http://jlne.ws/XzsuRA

Business giants back calls for power decarbonisation target
Business Green
A group of eight leading businesses have today written to Prime Minister David Cameron urging him to incorporate a decarbonisation target for the power sector in the upcoming Energy Bill.
http://jlne.ws/UDQrRq

CCS projects in limbo as fears grow over EU funding
Business Green
UK carbon capture and storage (CCS) projects are hopeful they can remain in the running for millions of euros in EU funding, despite reports the government’s failure to provide sufficient financial guarantees to two leading projects could make them ineligible for Brussels’ funding.
http://jlne.ws/RyKdnb

Natural Gas/Coal

Natural Gas to Be Most-Used Fuel in U.S. by 2030, IEA Says
Bloomberg
Natural gas will overtake oil as the most-used fuel in the U.S. by 2030 as the country’s supplies balloon, the International Energy Agency said.
http://jlne.ws/Txklbx

Regulators probe UK natural gas market
Financial Times
UK regulators are probing an alleged attempt to manipulate the country’s physical wholesale natural gas market, the latest sign of watchdogs stepping up their vigilance of electricity and natural gas trading.
http://jlne.ws/VZbUKr

Power

Nordics to see power surplus after 2020 – Statkraft
Reuters
The Nordic region’s investment in renewable energy will give it a large surplus of power to export by 2020, pushing down regional electricity prices and raising the need for new export links, Norwegian energy firm Statkraft said on Monday.
http://jlne.ws/ShavZp

Vestas Hires Former Detroit COO as Americas Unit President
Bloomberg
Vestas Wind Systems A/S (VWS), the largest wind-turbine maker, hired Chris Brown as president of its Americas unit.
http://jlne.ws/PQjgNt

Germany’s Bosch pulling out of Desertec renewable energy project
Reuters
Bosch, the world’s biggest auto parts supplier, is exiting the Desertec project, the second German company to leave the consortium aimed at expanding the use of renewable energy in Europe.
http://jlne.ws/ShajcF

China Solar Giants Likely to Get State Bailouts: Experts
Bloomberg
China’s $20 billion solar industry is avoiding loan defaults and mergers by taking aid from local governments, preserving jobs at money-losing companies such as LDK Solar Co., the world’s second-biggest maker of solar cells.
http://jlne.ws/XzsHEr

China’s struggling solar firms defy financial gravity
The Age
China’s $US20 billion ($19 billion) solar industry is avoiding loan defaults and mergers by taking aid from local governments, preserving jobs at money-losing companies such as LDK Solar, the world’s second-biggest maker of solar cells.
http://jlne.ws/QCAXBp

Mongolia to Increase Renewable Energy Development, Xinhua Says
Xinhua
Mongolia plans to increase the amount of energy produced from renewable sources, the country’s President Tsakhia Elbegdorj said Monday, according to China’s official Xinhua News Agency.
http://jlne.ws/TFurqq

China’s struggling solar firms defy financial gravity
The Age
China’s $US20 billion ($19 billion) solar industry is avoiding loan defaults and mergers by taking aid from local governments, preserving jobs at money-losing companies such as LDK Solar, the world’s second-biggest maker of solar cells.
http://jlne.ws/QCAXBp

Expanding renewable energy target ‘a benefit’
The Age
THE $10 billion Clean Energy Finance Corporation will not deliver additional clean energy by 2020 but will just shuffle renewable energy investment from wind power to solar, new modelling says.
http://jlne.ws/Q9wiHj

RECs

Wind tax credit backers ramp up campaign to greet Congress
The Hill’s E2 Wire
Advocates of expiring tax credits for wind power projects will greet next week’s return of Congress with a multi-front campaign for extension of the incentives in the lame-duck session.
http://jlne.ws/VWIJCU
**RKB – Rerunning the counter-argument from earlier this month.

CleanTech

Now That the Cleantech Hype is Gone, the Real Venture Investment Opportunity Begins        
Renewable Energy World
The bubble has burst. The hype and euphoria of 2008 and 2009 is a distant memory. Fueled in part by the externality of the stimulus handouts from the stimulus package, and the (now fleeting) spike of natural gas and oil prices, cleantech has experienced its own mini dotcom era now followed by a dot bomb phase.

http://jlne.ws/VZbeVs

Reports

Americans’ Global Warming Beliefs and Attitudes in September 2012 (Posted Oct. 21, 2012)
Yale Project on Climate Change Communication
http://jlne.ws/T4XcdE

The EU Emissions Trading System (Posted Oct. 17, 2012)
Environmental Defense Fund
http://jlne.ws/R5RSKM

Energy Water Nexus: Coordinated Federal Approach Needed to Better Manage Energy and Water Tradeoffs (Posted Oct. 17, 2012)
GAO
http://jlne.ws/T2epJe

Carbon Markets and Carbon Policy in China (Posted Oct. 15, 2012)
The Climate Institute/Climate Bridge
http://jlne.ws/T2mHma

View all reports >

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