EU drafts plan to cut electricity taxes and revamp grid charges
A draft European Commission proposal would tax electricity at rates below fossil fuels and allow governments to cut electricity taxes for energy‑intensive industries to zero. The aim is to shield consumers from Iran‑induced price spikes and accelerate electrification. The draft includes a catalogue of energy‑saving investments and low‑carbon technologies, plus a legal requirement for countries […]
Geothermal: Europe’s untapped secure power source
Think tank Ember estimates enhanced geothermal systems could generate up to 301 TWh of electricity annually – about 42 % of the EU’s coal and gas output – at costs below €100/MWh. Modern drilling techniques now make geothermal competitive with gas across much of Europe. A coalition of cleantech investors and industry groups notes that […]
Europe on brink of jet fuel shortages says IEA
Only six weeks of jet fuel left: The International Energy Agency (IEA) estimates Europe has roughly six weeks of jet fuel supply remaining following disruption to oil shipments through the Strait of Hormuz. IEA chief Fatih Birol warned flight cancellations could begin as soon as May if shipments do not resume. Birol expects higher petrol, […]
Bank of England warns energy‑driven inflation risks could persist
Bank of England Monetary Policy Committee member Megan Greene said that while it may take months to assess the economic damage from the Middle East energy price shock, she sees upside risks to inflation as more pressing than the risk of a demand downturn. Greene noted that inflation has been above the Bank’s 2% target […]
China mulls restricting exports of advanced solar manufacturing equipment
Chinese officials are discussing limits on exports of advanced technology used to make solar panels, particularly to the US, according to reports. Such restrictions could threaten investments by US companies – including Tesla – in domestic solar factories. China produces more than 80% of the world’s solar panel components and houses the top ten suppliers […]
Russia courts Asia and reasserts influence in the Americas
Russian Foreign Minister Sergei Lavrov said Moscow is ready to increase energy supplies to China ahead of President Vladimir Putin’s visit, noting that after Europe phased out most Russian imports, China and India now take around 80% of all Russian crude exports. Lavrov emphasised that Russia and China have the capacity to avoid dependence on US […]
EU warns of prolonged energy shock if Iran war continues
Two scenarios: In a closed‑door briefing for ambassadors, the European Commission outlined two possible outcomes for the Iran conflict. If the ceasefire holds and the US blockade of the Strait of Hormuz is lifted, oil and gas flows could recover within months and prices may retreat. But if tensions persist, the Commission warned of a […]
IEA: Iran war has triggered largest oil supply disruption in history
The International Energy Agency (IEA) said the Iran war has created the biggest oil‑supply shock on record, with 10.1 million barrels per day of supply lost in March. The agency now expects global supply to fall by 1.5 million bpd this year instead of rising, reversing previous forecasts. The IEA forecast that oil demand growth will contract […]
EU reassures airlines on jet fuel supply but keeps close watch
No immediate shortage: the European Commission said there is no evidence of a jet fuel shortage in the EU at present, despite widespread fears stemming from the Iran war. European airlines had earlier urged the EU to implement emergency measures – including fuel monitoring, joint kerosene procurement and suspension of aviation’s carbon market – after […]
Intertek’s potential breakup signals reshaping of energy services
British testing and certification company Intertek is mulling a split of its energy and infrastructure division from its broader testing and assurance business. The news sent Intertek shares up about 14%, indicating investor enthusiasm for a more focused corporate structure. Executives said separating the capital‑intensive energy/infrastructure unit could unlock value by allowing targeted investment and […]