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Electricity: a status report

Electricity: a status report. Laszlo Varro, Head, Gas, Coal and Power Markets Division International Energy Agency. Electricity. Is not going out of fashion Is the key battleground of climate policy Has been getting more, rather than less, carbon-intensive globally

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Electricity: a status report

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  1. Electricity: a status report Laszlo Varro, Head, Gas, Coal and Power Markets Division International Energy Agency

  2. Electricity • Is not going out of fashion • Is the key battleground of climate policy • Has been getting more, rather than less, carbon-intensive globally • Is the key driver for gas and coal demand • Has a transformative efficiency potential in Russia

  3. State of decarbonization: first stop digging

  4. Decarbonization race: a troika with only one horse pulling

  5. Status of low carbon technologies 1 Nuclear: Back to Square 1 after Fukushima? 9

  6. Status of low carbon technologies 2 CCS: serious risk of delayed deployment

  7. Status of low carbon technologies 3 Renewables: strong growth but not always on the best places

  8. German moratorium: European scale effects

  9. Moderate, 10% price reaction due to excess capacities EU power prices still below the level that would recover investment in new plant 13

  10. Gaswill be neededtodeliver CO2 reductions Germanelectricity mix with 10% demandreduction, no nuclear, 35% renewables and CO2 atthetargetlevel

  11. US: the Golden Age of Gas has arrived 280 Twh coal to gas switch in 3 years

  12. China: with energy efficiency efforts and the biggest nuclear and renewable program in the world Coal fired power generation still grows by over 100 twh/year

  13. Russia: (Re)Search to improve power sector

  14. How to make it happen • Adam Smith 1776: peace, taxes, justice • IEA 2011(ongoing work on Russian power sector reform): elimination of gas subsidies, proper price signals for gas and electricity, market design

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