• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 1 day Syrian Rebels Relinquish Control Of Major Gas Field
  • 1 day Schlumberger Warns Of Moderating Investment In North America
  • 1 day Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 1 day Energy Regulators Look To Guard Grid From Cyberattacks
  • 1 day Mexico Says OPEC Has Not Approached It For Deal Extension
  • 1 day New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 2 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 2 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 2 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 3 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 4 days China To Take 5% Of Rosneft’s Output In New Deal
  • 4 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 4 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 4 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 5 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 5 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Global Energy Advisory Friday 20th October, 2017

Global Energy Advisory Friday 20th October, 2017

As tensions surrounding Kurdistan rise,…

Can India Overtake China In The EV Revolution?

Can India Overtake China In The EV Revolution?

India wants to drastically increase…

The UK is Way Off Hitting its 2020 Renewable Energy Target

The UK is Way Off Hitting its 2020 Renewable Energy Target

The European Renewable Energy Council (EREC) has announced that the UK is one of a few countries that will not meet its 2020 renewable energy targets, with a ranking of 25th out of the 27 EU states for its contribution to renewable energy development.

The data collected by the Renewable Energy Association (REA) showed that the UK was the only member state that did not meet its 2011 target, and things just get worse for 2012, and ultimately 2020.

21 participants in the project already met their 2012 targets in 2011, but the EREC expects only Austria, Italy, and Sweden to actually achieve their 2020 targets. Serious doubts exist over the ability of Bulgaria, Germany, Greece, and Portugal to increase their renewable energy capacity, and Belgium, Poland, Spain, and the UK are expected to completely miss their targets.

Related article: European Resistance to Gazprom is Futile

Rainer Hinrichs-Rahlwes, the president of the EREC, warned that “there are worrying signs on the horizon as current growth rates are insufficient to meet the 2020 targets. EU Member States should create and implement predictable and stable legislative frameworks for renewable energy sources.”

The Guardian claims, that as a result of the data, the REA has asked the British government to renew its commitment to achieving the 2020 target, proving that it is taking the project seriously, and “to end the mixed policy signals that have dominated the airwaves in recent times.”

Gaynor Hartnell, the chief executive officer of the REA, said that “while we appear to have narrowly missed the interim target, prospects for getting on track to meet 15% in 2020 seem remote.

The effect of a steep drop in lending decisions taken in recent years will manifest itself, there will inevitably be a hiatus with the closure of the Renewables Obligation and the government seems to have gone lukewarm on renewable heat. The earlier than anticipated publication of strike prices is welcome but more work needs to be done to build investor confidence.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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