• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 5 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 8 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 13 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 15 hours Japan carmakers admits using falsified emissions data
  • 6 hours Starvation, horror in Venezuela
  • 4 hours Saudi Fund Wants to Take Tesla Private?
  • 1 hour Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 4 hours Corporations Are Buying More Renewables Than Ever
  • 11 hours China still to keep Iran oil flowing amid U.S. sanctions
  • 13 hours China goes against US natural gas
  • 13 hours Western Canada Select price continues to sink
  • 1 hour Film on Venezuela's staggering collapse
  • 10 hours Are Trump's steel tariffs working? Seems they are!
Bears Are Back In The Oil Market

Bears Are Back In The Oil Market

In the midst of an…

Gulf Coast Refineries Process Record Volume Of Crude

Gulf Coast Refineries Process Record Volume Of Crude

U.S. refiners are churning out…

Italy Looks To Phase Out Coal-Fired Electricity By 2025

Italia

Italy’s government unveiled on Friday a new national energy strategy aiming to phase out coal in electricity generation by 2025, and significantly boost the share of renewables in total energy and electricity consumption.

In the framework document drafted by the ministries of economic development and environment, Italy plans to have 28 percent of its total energy consumption covered by renewable energy sources by 2030, compared to 17.5 percent in 2015. The target for renewables in electricity generation is to achieve a share of 55 percent by 2030, up from 33.5 percent in 2015. In the transportation sector, Italy targets renewables at a 21-percent share by 2030, versus 6.4 percent in 2015.

The country is also doubling research and development investments in clean energy to US$517 million (444 million euro) in 2021 from US$258 million (222 million euro) in 2013.    

Alongside a big push for renewables, Italy—Europe’s fourth-largest energy consumer that is heavily dependent on imports to meet about 93 percent of its oil and natural gas needs--also aims to diversify its natural gas supply sources and reduce the gap between the natural gas price in Italy and the price in northern Europe, which was some US$2.328 (2 euro) per MWh in 2016.

Related: Russia Unfazed by U.S. Oil Sanctions

Natural gas will continue to play a crucial role in Italy’s energy, the strategy says, because it’s a back-up resource for the renewables. Therefore, the country will work to promote the construction of new gas import pipelines that would diversify sources and routes of supply, and will award liquefied natural gas (LNG) capacity via tenders instead of at fixed tariffs, to make the use of LNG terminals in Italy more attractive. 

Italy is joining the UK that announced in November 2015 its intention to consult on proposals to end unabated coal generation by 2025. Following the end of the consultation period, the UK government confirmed last month that it would proceed with action to regulate the closure of unabated coal power generation units in Great Britain by 2025.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Brandon on November 12 2017 said:
    Italy plans lots of nice things when political elections get closer. They'd better come up with a consistent debt reduction plan before anything else though.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News