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UK and European Renewable Energy trends and implications for energy markets

UK and European Renewable Energy trends and implications for energy markets. Philip Wolfe Renewable Energy Association www.r-e-a.net. Renewable Energy Association. More than 500 members multinationals to ‘one-man bands’ Renewable heat, power, fuel & CHP All technologies: Biomass

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UK and European Renewable Energy trends and implications for energy markets

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  1. UK and EuropeanRenewable Energy trends andimplications for energy markets Philip Wolfe Renewable Energy Association www.r-e-a.net Apex Paris - October 2007

  2. Renewable Energy Association • More than 500 members • multinationals to ‘one-man bands’ • Renewable heat, power, fuel & CHP • All technologies: • Biomass • Bioenergy • Solar • Wind • Marine • Hydro • Heat pumps Apex Paris - October 2007

  3. This presentation • EU energy targets • Possible scenarios for 2020 • Policy implications • Trading and market implications Apex Paris - October 2007

  4. The EU commitments for 2020 • Emissions reductions Binding • 20% unilateral, or • 30% if multilateral • Energy conservation Non-binding • 20% below current projections • Renewables Binding • 20% of total energy • 10% of transport fuels A lot of 20%’s total energy Apex Paris - October 2007

  5. Renewable trends in Europe Apex Paris - October 2007

  6. UK Energy White Paper “The 20% renewables target is an ambitious goal … by 2020, on the basis of existing policies, renewables would contribute around 5% of the UK’s consumption … we will bring forward the appropriate measures, beyond those set out in this White Paper, to make our contribution to meeting these targets.” Apex Paris - October 2007

  7. 20% Renewables – EU vision Apex Paris - October 2007

  8. First: Cut energy consumption • Energy conservation measures • More efficient energy usage • Regulate against inefficient products • Regulate against parasitic loads • More efficient energy generation • Limit generating stations’ waste energy • UK consumption in 2020 same as now as a rough working assumption Apex Paris - October 2007

  9. Routemap to 2020 New measures needed Apex Paris - October 2007

  10. Enhanced policy proposalsMerchant power • Increased RO1 objective ~22% in 2020 • Set 25% quota and increase headroom • Retain buyout link to retail price index • Offshore super-grid? • Tidal lagoons, barrages and new large hydro? • Incentives for large scale CHP2 • Large thermal generators must use heat • Renewable Heat (or Gas?) Obligation • Measures to deliver biomass strategy3 • Renewable (electricity) Obligation • Combined heat and power • Published by UK Government in May Apex Paris - October 2007

  11. Enhanced policy proposals Other energy sectors • Renewable transport fuels • Higher RTFO4 quotas – 10% in 2020 • High blend & second generation bio-fuels • Domestic buildings • Building regulations for new homes • Smart metering roll-out programme • Retrofit programme for existing houses • Non-residential buildings • A new Code for Sustainable Buildings • Heat networks in new developments • Renewables in agriculture 4 Renewable Transport Fuels Obligation Apex Paris - October 2007

  12. Routemap to 2020 Enhanced energy policy Apex Paris - October 2007

  13. 20% Renewables – in EU Apex Paris - October 2007

  14. 20% Renewables – in UKWhere it is Apex Paris - October 2007

  15. 20% Renewables – in UKWhat it is Apex Paris - October 2007

  16. So what’s new ? • More focus on heat and fuels • Not simply electricity • Increasing penetration of renewables • Exceeding nuclear, coal and oil • Competition between energy markets • Power, heat & transport competing for: • Biomass • Gas Apex Paris - October 2007

  17. What’s new for power ? • Trend towards decentralised generation • Offshore renewables: • International grids? • Renewables delivery profile • Base-load / intermittent; predictability • Advanced metering – new facilities: • Load management • Real-time price signals Apex Paris - October 2007

  18. Implications for markets • More and smaller energy producers • Increased cross-border trading • Regional (distribution level) potential? • Real-time pricing • More flexible demand • Increasing role for balancing services • New trading opportunities for heat? Apex Paris - October 2007

  19. UK and EuropeanRenewable Energy trends andimplications for energy markets Philip Wolfe Renewable Energy Association www.r-e-a.net Apex Paris - October 2007

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