The German government has come under pressure from climate lawyers to ban all fossil fuel projects from the list of those eligible for European Investment Bank (EIB) support. Luxemburg-based EIB deferred its decision to ban loans to fossil-fuel projects until mid-November after Germany had urged the bank to keep financing gas-fired power projects.
Payouts of about £1 billion under the GB capacity market scheme are due in November. But this is “likely to prove problematic,” analysts warned, as some suppliers may not have been billing large customers – particularly those on “pass-through” contracts – during the EU’s earlier suspension of the scheme.
Just weeks before the UK goes to the polls on 12 December, the government has suspended fracking as analysts found it is not possible to predict the size and frequency of earthquakes caused by this practice. Activity by Cuadrilla had resulted in a 2.9 magnitude tremor at its site in Lancashire in August.
The American Pipeline and Hazardous Materials Safety Administration (PHMSA) has introduced a three rules. Operators need, among others, reconfirm the material strength of their lines to ensure safe transport of the abundant U.S. natural gas production to LNG export terminals, domestic industry and power generators.
German Chancellor Angela Merkel’s planned climate action measures could cost at least 40 billion Euros over the next four years. Protecting the climate is a “challenge for humanity” and needs “a real feat of strength" which will “of course cost money,” she said prior to the government’s launch of a climate package on September 20.
Germany’s nearly simultaneous coal and nuclear exit is jeopardizing the country’s current high power supply security. Unless new flexible gas generators and renewable power sources get built in time, along with sufficient grid infrastructure, Germany is set to miss several key energy transition targets for the year 2020, McKinsey finds.