Sabine Augustin

📣Last 26th June both the 🇪🇺Directive 2024/1711 and the Regulation 2024/1747 as regards improving the Union’s electricity market design #EMD were published in the official Journal of the EU 📑. 👇Just in case you are asked about the key elements of the #Directive or you need a 2-minute summary, I would like to share with you the following: ✅In legislative terms: 🇪🇺It amends the Directives (EU) 2018/2001 and (EU) 2019/944 🏁It will enter into force next 16 July. 🗓️Member States must transpose it by 17 January 2025. By way of derogation, new art. 4 and 15a by 17 July 2026. ✅I leave you below 🖐️five points I consider #NEW ones: 1️⃣ #EnergySharing is now part of the EU energy legislation and this Directive makes clear that active consumers (of any kind) have the right to energy sharing in a non-discriminatory manner. 2️⃣ #ProtectionFromDisconnections becomes a firm right for vulnerable customers and customers affected by energy poverty. Under this Directive, regulated prices are possible as well for vulnerable customers and customers affected by energy poverty. 3️⃣ #ElectricityPricesCrises is well defined in the Directive through concrete price conditions. If these conditions are met, under the proposal by the EC, the Council can declare a regional or Union-wide electricity price crisis and trigger certain public interventions in price setting for electricity supply. 4️⃣ #SupplierRiskManagement must be regularly assessed by national competent authorities. Stress tests and reporting requirements on suppliers could be tools by which to assess supplier hedging strategies. 5️⃣ #FlexibleConnectionAgreements should have a proper regulatory framework in which transmission system operators and distribution system operators offer this connection possibility in areas where there is limited or no network capacity availability for new connections. #MoreEurope #MoreMarkets

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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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📢 The Council of the European Union has approved two critical parts of the #EUGreenDeal, consisting of two regulations and two directives: 🔸The Hydrogen and Gas Decarbonisation Package: This package includes a regulation and a directive that set unified internal market rules for renewable and natural gases and hydrogen, updating the current EU gas legislation. 🔹The Electricity Market Regulation: This regulation updates the existing electricity regulation and introduces specific changes to the ACER regulation. 👉 The regulations and directives will now proceed to signing and will be published in the Official Journal of the European Union. 🔸 The Hydrogen and Gas Regulation will take effect 6 months after publication. 🔹 The Electricity Market Regulation will come into force 20 days after publication. 📃 Read more: https://lnkd.in/d4rm3JAg #Hydrogen #Decarbonization #Gas #CounciloftheEuropeanUnion #electricity

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Rethinking Electricity Pricing - Feedback Please When the electricity industry deregulated in the mid-90s, the energy provided by all generators at the time had the same characteristics, that is, since all the generators were synchronous, the energy they offered into competitive markets also included inertia and VARs. Electricity markets were designed based on the assumption that these characteristics were just included with energy offers. However, going forward, with inverter-based resources providing a large proportion of energy in most electricity markets, there is now wide variation in characteristics of the energy being offered into markets by various types of generators. The "quality" of the electricity varies based on the type of generator producing it, and this significantly impacts system reliability. Other commodity markets, such as oil, economically differentiate between different grades of oil (WTI, Brent) based on their differing characteristics, that is, their differing qualities. Why can't we do that with electricity? So, here's my question. Can we rethink how electricity is priced? Can we move away from simply paying for "energy" to paying for "energy + inertia + VARs" and differentiate energy offers from generators based on the characteristics, or quality, of the product? This would allow markets to provide more precise economic signals for the various components of electricity that are required to reliably serve load. The highest quality, or grade, would include energy + inertia + VARs and the lowest grade would be energy only. To be clear, this would not remove the need for ancillary services, which will still be required for regulation and to manage contingencies. The intent would be to ensure the energy that's in merit and dispatched through the energy market provides a minimum acceptable level of operational reliability. I'm curious to hear what others think. Is this crazy? Is there a fatal flaw with my logic? Let me know in the comments...

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Pleased to deliver opening remarks at today's EU Energy Council meeting. My main messages: ▶️ Europe has made good progress moving away from Russian energy supplies ▶️ Forthcoming wave of LNG offers new opportunities ▶️ Expansion of grids is vital for clean energy transitions

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Cogeneration has a key role to play in delivering the EU’s decarbonisation plan (Press Release - 17 June 2024) Today, Environment Ministers from the 27 EU Member States met in Brussels, where they discussed the European Commission's communication on Europe's 2040 climate target and path to climate neutrality by 2050, which recommends reducing the EU’s net greenhouse gas emissions by 90% by 2040 relative to 1990. Below is a statement by COGEN Europe’s Managing Director, Hans Korteweg. "COGEN Europe welcomes today’s Environment Council discussion on Europe's 2040 climate target and path to climate neutrality. In this context, we wish to underline that #cogeneration has a key role to play in delivering the EU’s #decarbonisation plan, addressing systemic challenges relating to flexibility and adequacy, and making the most efficient use of precious energy sources such as renewable #biogas, #biomethane and clean #hydrogen. "The EU must now ensure a level playing field for clean energy solutions and support the necessary innovation and investments in order to reach the ambitious emissions reduction targets that have been agreed, whilst also fostering the #competitiveness of Europe’s industries. A balanced and integrated policy is needed at European level, in order to support investments in energy efficient solutions and secure affordable access to clean energy.  "The implementation of the 2040 target and plan will require a comprehensive impact assessment, looking at all energy efficient, flexible and renewable solutions, including cogeneration, and their contribution towards reducing emissions and enhancing the EU’s industrial competitiveness, as well as the affordability and resilience of the entire energy system.  "Currently, cogeneration is embedded in Europe’s economy and communities, across district heating and key industries such as chemicals, pulp and paper, alumina, food processing and ceramics. In the future, smart and innovative #CHP* will continue to play a vital role for industrial competitiveness, system efficiency and resiliency across increasingly integrated carbon neutral energy systems, complementing intermittent #renewables such as wind and solar (PV), and supporting #electrification." * CHP (Combined Heat and Power) is another name for cogeneration For further information, see COGEN Europe’s contribution to the European Commission’s Consultation on an EU climate target for 2040 (23 June 2023) ➡ https://bit.ly/PP-230623

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Interview with Sandrine Meunier, head of French gas TSO, GRTgaz She says France is set to miss its electrolyser capacity target by five years, likely installing 6.5 GW by 2035 instead of 2030 “It’s going to take a little longer to achieve competitive hydrogen production, it’s a new industry so it necessarily takes time to scale up,” although industrial consumers are committed to switching to hydrogen Despite the weak signals, GRTgaz is developing hydrogen infrastructure projects in industrial hubs in France, but is not yet working on large-scale pan-European projects, which are “much more long term“ The TSO head argues hydrogen production costs should be identical across France, Germany and Spain to ensure French industrials remain in the country, factoring in transportation costs Full story: https://lnkd.in/ews_xj-v -

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The next 3 days with interesting panels from the Energy industry. An event worth participating in. #eec2024 European Economic Congress (Europejski Kongres Gospodarczy)

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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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I regularly get questions about electricity production in belgium and surrounding countries and the associated CO2 emissions.  This is a very interesting website with lots of figures and a nice visual representation of where and how electricity is produced and transported in Europe. https://lnkd.in/ejXTYFZF

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What are the Challenges of the Future Electricity System? Find the answers in the report issued today by EU Agency for the Cooperation of Energy Regulators (ACER) and Council of European Energy Regulators (CEER). I am delighted to see that the report identifies 1) bottlenecks in distribution grids, 2) the active participation of consumers/prosumers/storage 3) the need for increased effciency of existing grids, as the top priorities Plexigrid was born, precisely, to address and resolve these three questions. #energytransition #gridofthefuture #plexigrid

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Like in 2023, Finland is again in the lead of the competition for most often occurring negative prices during H1-2024. This is another symptom of the severe flexibility deficit we currently have in Finland, manifesting itself either in security of supply and affordability concerns or in energy waste. For both, the cure is more flexibility from both demand and supply, not forgetting a need for an adequate national, Nordic and European energy infrastructure.

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#MissionSolar 2040 needs a flexibility revolution!   I very much enjoyed being on the latest 🎙Redefining Energy show, chatting with Laurent Segalen and Gerard Reid about the urgent need for a flexibility revolution - and the findings of our latest Mission Solar 2040 report. Read here 👇   https://lnkd.in/eP6RCi3h   SolarPower Europe partnered with Artelys to produce the report, which shows significant energy system benefits from switching on supply side flexibility (storage, demand response) as well as demand side flexibility (electrification - EVs, Heat pumps etc.).   The modelling is clear - flexibility smashes system costs, reduces electricity prices and massively decreases GHG emissions.   At the same time, solar companies who are struggling with the current market environment - mainly due to the famous solar duck curve - would benefit from reduced curtailment and reinforced capture prices.   However, flexibility will not be added to the system at the pace needed without pushing for it. We need to:    🎯 Set EU targets for renewables and flexibility for 2030 and 2040.  🧮 Improve energy system modelling capacities, supporting decision makers, regulators and grid operators.  💶 Unlock investment in flexibility across the energy system, primarily by ensuring full implementation of the updated electricity market design - but also by allowing for more solar, wind and storage to be deployed together. 💡 Adopt an EU Electrification Action and Investment Plan within the first 100 days of the next Commission’s mandate.   Listen to the latest from Redefining Energy 👇 #applepodcast https://lnkd.in/dhTv48S #spotify https://lnkd.in/ditGthT

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This week, Energy Ministers from the 27 EU Member States came together in Brussels for an informal meeting hosted by the Belgian Presidency of the Council of the European Union. The European Commission was represented by its Executive Vice President Maroš Šefčovič, who is in charge of coordinating the implementation of the #EUGreenDeal. The Energy Ministers discussed challenges relating to Europe's energy infrastructure, including: the need for a better coordinated and integrated European electricity grid; the financial and risk-reduction aspects of cross-border investments in electricity infrastructure; and how to ensure grid resilience during the transition to an energy system with a greater reliance on #renewables and #netzero greenhouse gas emissions. "We are very pleased to see that Energy Ministers are focusing their attention on the need to develop and improve Europe's energy infrastructure," says COGEN Europe's Managing Director Hans Korteweg. "In order to meet its energy and climate ambitions, the EU must take an integrated approach to energy systems, fostering energy efficiency and renewable energy across electricity, heat and gas grids." "Smart #cogeneration solutions are embedded in Europe’s cities and industries, efficiently linking energy grids at local level. Delivering the cost-effective potential for cogeneration must be prioritised in order to foster energy efficiency and resilience, whilst enabling a greater integration of renewables and supporting electrification."

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This week (27-28 May 2024), our Managing Director, Hans Korteweg, attended the 39th European Electricity Regulatory Forum (also known as the "Florence Forum") in Florence, Italy. Since 1998, the Forum has met once or twice a year. Participants include representatives of national regulatory authorities and government ministries from the EU Member States, the European Commission, Transmission System Operators, electricity traders, consumers, network users and power exchanges. The agenda of this week's meeting was mostly devoted to the recently adopted new rules for Europe's electricity market, and related issues including: enabling the uptake of renewables, protecting and empowering consumers, demand response, capacity allocation and congestion management. Mr Korteweg told the Forum that flexible cogeneration plants and installations represent the most efficient solution for ensuring adequate capacity and balancing supply and demand for electricity, whilst also enabling the integration of decarbonised and renewable sources of energy. For more information about the Florence Forum, see the European Commission website: https://bit.ly/EERF-39 For more information about the reform of Europe's electricity market, see the Press Release issued by the Council of the EU on 21 May 2024: https://bit.ly/PR-210524 #FlorenceForum #ElectricityMarketDesign #EUGreenDeal

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OMV Petrom has acquired a 50% stake in three solar PV projects totalling 130 MW in Romania.  As a result of investment, OMV Petrom has entered into a new partnership with Renovatio to develop, build, and operate the Romanian solar projects. “The projects for reducing our carbon footprint and that of our customers, are a central piece of our strategy,” said Christina Verchere, CEO of OMV Petrom. “About a third of the €11 billion investments by 2030 will be allocated to low and zero carbon projects.” Under the new partnership, OMV Petrom and Renovatio aim to install over 1.1 GW of renewables capacity by 2030. OMV’s transaction with Renovatio is slated to close in H2 2024, subject to the necessary approvals. According to OMV Petrom, the new solar projects have already received access to the national power transmission grid. “We are thrilled to continue and extend our partnership with OMV Petrom, aiming towards energy transition and a sustainable economy based on innovation and environmentally friendly technologies,” noted Aurel Arion, CEO of Renovatio. “The green energy to be produced by our portfolio projects is an essential step in view of a future aligned with global environmental objectives.” Franck Neel, OMV Petrom member of the Executive Board, responsible for Gas and Power, added: “We are glad to have Renovatio by our side, they have extensive expertise in renewable energy projects. Partnerships are very important for accelerating the energy transition: by combining our strengths we create higher impact overall and contribute to the change for a cleaner environment.” OMV’s latest deal follows the acquisition of a 50% stake earlier this year in Electrocentrale Borzesti, which owns renewable projects with a capacity of approximately 1 GW. #cleanenergy

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Renewable fuels can and should play an important role on the road to net zero emissions in Europe. Find here the update of the fuels industry - @FuelsEurope - for the #EUElections.

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Regulation (EU) 2024/1106 of the European Parliament and of the Council of 11 April 2024 (“REMIT II”) has been published today in the Official Journal of the European Union. The document can be found here: https://lnkd.in/e5P8wpFe #energy #trading #compliance #REMIT

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Premier Energy Romania Seeks EUR 100m in #IPO for #Renewables Premier Energy Romania unveiled today a decision for an initial public offering (IPO) on the #Romanian #stockmarket, with the aim of raising EUR 100 million (USD 106.3m) to fuel future expansion, mainly within the #renewablenergy production sector. #greenergy #sustainablenergy #capacity #solarstockmarket #europesolar #solarindustry https://lnkd.in/gTgk59fg

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