Tag: energy market

Proposal for emergency intervention to address high energy prices: European Commission

The EU is confronted with the effects of a severe mismatch between energy demand and supply, due largely to the continued weaponisation by Russia of its energy resources. To ease the increased pressure this puts on European households and businesses, the European Commission is now taking a next step in tackling this issue by proposing exceptional electricity demand reduction measures, which will help reduce the cost of electricity for consumers, and measures to redistribute the energy sector’s surplus revenues to final customers. 

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bp’s Statistical Review of World Energy 2022

According to the report, electricity generation increased by 6.2% in 2021 – similar to the strong bounce back seen in 2010 in the aftermath of the financial crisis (6.4%). Wind and solar reached a 10.2% share of power generation in 2021, the first time wind and solar power have provided more than 10% of global power and surpassing the contribution of nuclear energy.

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Australian Energy Market Update

Whilst Australia was in lockdown for much of 2021, transactions in the clean energy sector continued across all fields: solar, wind, batteries, pumped hydro and hydrogen, with total transacted in excess of $7bn. However, these volumes were subdued in comparison with 2020, which had 32% more transactions than 2021.

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