The European CO2 Market – 19.07.2021

The EUA price on London based exchange ICE ECX opened on 19.07.2021 at 52.89 euro/tCO2, amid the anticipation of strong support of gas and power markets.

Renewable Energy Directive Recast

The Renewable Energy Directive will set an increased target to produce 40% of our energy from renewable sources by 2030. All Member States will contribute to this goal, and specific targets are proposed for renewable energy use in transport, heating and cooling, buildings and industry. In addition, sustainability criteria for the use of bioenergy are strengthened and Member States must design any support schemes for bioenergy in a way that respects the cascading principle of uses for woody biomass.

The RED proposal includes reinforced provisions for efficient district heating. Member States are required to increase their share of district heating. In addition, renewable energy and waste heat shares in DHC heat must be increased. To achieve this, third party access to renewable energy or waste heat, with some exceptions.

As concerns the role of CHP, the RED proposal does require Member States to ensure energy efficiency first in generation, transmission and distribution of renewable energy sources, as part of their authorisation criteria.

German car manufacturers fined $1 billion over emission collusion in EU

A recent news article on the Kleanindustries website discusses a fine imposed by the European Commission on major German car manufacturers on holding back the use of technical developments, not a more traditional practice like price fixing.

Daimler, BMW and Volkswagen along with its Audi and Porsche divisions avoided competing on technology to restrict pollution from gasoline and diesel passenger cars, the EU’s executive commission said. Daimler wasn’t fined after it revealed the cartel to the European Commission.

It was the first time the European Commission imposed collusion fines on holding back the use of technical developments, not a more traditional practice like price fixing.

Source: Cogen Europe & Energy in Demand