Simone Rodolfi

As the #EU’s largest producer of #gas-fired #power #generation, #Italy’s gas usage in its power generation mix is about 50%, nearly three times the EU average, the think tank said in a report. “Italy’s absence of a plan to phase out gas generation does not pave the way for similar levels of #renewable growth to its European neighbours,” it said, adding that the country’s solar and wind growth was slower than it could be.

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Aug24 #Business #Energy Market Report - Contrary to the movements observed in the preceding month, and across most of 2024, #power and #gas contracts with shorter durations recorded losses month-to-month. Despite the price losses, it is important to acknowledge that prices remain sensitive to change, especially as GB is more exposed to the global market for its procurement of gas.   This was particularly apparent during July when Hurricane Beryl exacerbated supply fears for the West following an outage at the Freeport liquified natural gas (LNG) export facility in the US. Similarly, reduced gas supply from the Norwegian and UK Continental Shelf across various periods of the month further solidified concerns surrounding supply.   Day-ahead gas registered a 9.0% loss month-on-month to average 74.49p/th due to demand reductions as the higher temperatures limit total heating demand. Similarly, front-month contracts registered price drops, with August 24 seeing a 9.0% loss to 75.13p/th, and September 24 dropping 7.3% to 79.71p/th.   Similar to the front-month contracts, most seasonal gas contracts out to Winter 26 showed decreases, but we note outliers in the summer 26 and Winter 26 contracts which saw a gains of 2.0% and 2.1%, respectively.    This led to an overall decrease of 0.1% across seasonal gas contracts, with an element of risk remaining across the medium-term as the present gas supply environment remains relatively uncertain despite elevated levels of EU gas in storage.   Elsewhere, demand profiles in Europe and South-East Asia across the winter period could play a key role in shaping future price movements for gas, particularly if we see competition between the two markets rise for the procurement of LNG. Currently, LNG demand from Europe remains subdued due to high gas storage stocks, currently at 85% at the time of writing, leading to the overall losses registered across gas contracts.   Following the bearish pricing sentiment experienced across its day-ahead gas counterpart, day-ahead power prices fell 7.4% to average £70.14/MWh in July, falling to the lowest level seen since April 2020 at £17.26/MWh on 3 July following high wind generation and low system demand on the day.   However, stronger losses were limited by a month-on-month reduction in wind generation levels, acting to increase the reliance on more expensive forms of power generation. Moreover, continued extensions to French nuclear power generation acted to decrease interconnector flows from the country, in tandem with the maintenance across the GB nuclear fleet throughout the month. Gavin Towers Richard Dickson Freddie Cooke

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'A scheme designed by the #regulator since 2004 allows some #Italian #gas plants, both combined-cycle #power #plants and open-cycle turbines, to receive a #capacity #payment. This is a state #subsidy that maintains them #artificially #profitable and distorts their exit from the market based on pure #fundamentals. '

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👍As you know, one of the core legislative instruments of the #EUElectricityMarketReform is the new Regulation 2024/1747 to improve the Union’s electricity market design (published in the Official Journal of the EU on 26th June🗓️).   ✅In this context, much has been commented about the pros & cons of this Regulation, but... you know what… 🎬the true #EUElectricityMarketReform #EMD will start next 🗓️16th July with the enter into force of this key legislative text and consequently with its #Implementation phase.   ✅The current electricity prices scenario in Europe has nothing to do with the one that triggered the political negotiation about the new electricity market design #EMD in late 2022 and 2023, and this better “energy atmosphere” is precisely what should facilitate the proper #Implementation of this Regulation with regard to both #Timing and #Impact.   ✅I leave you below a #timeline with some milestones that might help you follow up and navigate the implementation of the long-debated #LongTerm market instruments as key componentes of the #EUElectricityMarketReform   🤞Intense months and years are coming to implement many things … but motivating ones towards #MoreEurope #MoreMarkets and #MoreDecarbonization.

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Today marks another important step in Zhero ‘s #growth path. We have just closed an upsized second round of #fundraise attracting in our operating platform #ZheroEurope leading international financial and industrial investors such as Azimut Group, Baker Hughes, TotalEnergies and UniCredit The funds will be deployed to accelerate the development of our #greenenergy projects. Zhero Europe is currently busy with the development of electric interconnectors such as #Medlink - new dedicated renewables at scale in Algeria and Tunisia connected to the north of Italy via a series of bi-polar HDVC cables, a platform of >1GW of utility scale battery storage for the Italian market and a green molecules project near Walvis Bay in Namibia. As part of today’s transaction, Zhero Europe and TotalEnergies have also signed a preliminary agreement for a minority investment, subject to completion conditions, of TotalEnergies in Medlink Tunisia, the company developing the new interconnection between Tunisia and Northern part of Italy including dedicated renewables generation in Tunisia. We are proud to give our contribution to the #energytransition in Italy, Europe and beyond! Marco Alvera' , Paddy Padmanathan, Enrico Vitali, Marco Bartolini, Filippo Rigoni

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Cogeneration has a vital role to play in enabling the energy transition whilst also enhancing the competitiveness of Europe’s industries (Press Release – 18 April 2024) At the Special European Council in Brussels today (18 April), political leaders from the 27 EU Member States took part in a high-level strategic exchange on the EU’s agenda for 2024-2029. Feeding into the debate, former Italian Prime Minister Enrico Letta presented his report on the future of the EU’s single market. Delivering on the EU’s climate and energy ambitions in a way that also reinforces the #competitiveness of Europe’s industries is a key theme in the debate. Clean energy technologies must be scaled up at higher speed, with the help of both private and public financing. Europe’s single market can play an important role in supporting the transition to a more efficient energy system with more #renewables and less emissions. Cogeneration technologies have a vital role to play in enabling the energy transition by making the most efficient use of low carbon and renewable fuels such as #biogas, #biomethane and (green) #hydrogen. As one of the industries with a strong manufacturing base in Europe, the #cogeneration sector is committed to the creation of a resilient, decentralised and carbon neutral European energy system by 2050. Cogeneration technologies currently produce 12% of the #electricity and 15% of the heat used in the EU, including 70% of all the heat that is distributed via district heating networks. Moreover, half of the total #CHP capacity (i.e. around 60 GW of electrical output) is embedded in Europe’s key industries such as alumina, ceramics, chemicals, food & drink, pulp & paper and others. By using energy more efficiently, cogeneration is responsible for avoiding 15 bcms of additional gas consumption and preventing 150 million tonnes of CO2 emissions every year across the whole of the EU. In the future, cogeneration will continue playing an important role, adapting to the evolving needs of consumers and the energy system. Cogeneration plants and installations are capable of running on a range of renewable and low carbon sources, including biomass and renewable gases such as hydrogen. Moreover, it will be critical to ensure security of supply and resiliency cost-effectively, as our energy systems move towards higher shares of intermittent renewable power and higher electrification. Commenting on today’s EU Summit, Hans Korteweg, Managing Director of COGEN Europe, said: "COGEN Europe’s welcomes today’s high-level discussions on a strategic EU agenda for the next five years. Climate and energy must be at the core of this debate, with a focus on #decarbonisation, resilience and cost-effectiveness." "In this context, cogeneration has a vital role to play in enabling the energy transition, whilst also enhancing the competitiveness of Europe’s industries." Press Release ➡ https://bit.ly/PR180424

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