• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 16 mins Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 8 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 41 mins Could Venezuela become a net oil importer?
  • 24 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 10 hours Why is permian oil "locked in" when refineries abound?
  • 3 hours Saudi Arabia turns to solar
  • 13 mins Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 hours Teapots Cut U.S. Oil Shipments
  • 12 hours Oil prices going down
  • 30 mins China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 17 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 13 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 1 day U.S. Withdraws From U.N. Human Rights Council
  • 2 hours EVs Could Help Coal Demand
  • 23 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 13 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
Uncertainty Looms Large Over Latin American Oil

Uncertainty Looms Large Over Latin American Oil

While Venezuela is grabbing a…

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