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Tag Archives: energy

The only quick-fix to Europe’s energy price crisis is saving energy

The only thing Europe can quickly do to prevent a potentially difficult winter is to actively promote energy conservation in both the residential and industrial sectors. This piece was originally published in Euractiv. Faced with spiralling energy prices, European governments are trying to shield vulnerable households and small businesses with tax cuts, price caps or rebates. These temporary government interventions are designed to protect the most vulnerable households from the energy...

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Letter: The lesson Europe should learn from the gas crisis

The Sound of Economics Live: Unboxing the State of the Union 2021 In this Sound of Economics Live episode, we look at the State of the Union address delivered by Ursula von der Leyen, President of the European Commission. Speakers: Grégory Claeys, Maria Demertzis, Alicia García-Herrero and Giuseppe Porcaro Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: September 15, 2021

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Exploding energy prices

Wholesale gas prices have reached record highs in the past months, leaving EU governments scrambling for emergency aid to help households cope with their rising bills. However, this is not only about energy: though its origins might be environmental, there are diplomatic, social and economic consequences for governments and citizens. And less than two months after the EU’s bold ‘Fit-for-55’ climate initiative, a gas crisis is threatening the EU’s green agenda. In this episode of The Sound...

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Is Europe’s gas and electricity price surge a one-off?

Surging natural gas prices in Europe, driven by rising demand and tight supply, are pushing up electricity prices; to prevent volatility, governments need to commit more clearly to a low-carbon future. The authors gratefully acknowledge the support of Giovanni Sgaravatti for the preparation of the charts included in this blogpost. Since January 2021, natural gas prices have soared by more than 170% in Europe (Figure 1), sparking concerns about the potential macroeconomic implications. Both...

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EU climate plan should involve taxing pollution, not borders

Climate change and taxes may be some of the only true certainties in life. To protect ourselves better, we should make careful choices on how they interact. Read the piece published by Law360. Republishing and referencing Bruegel considers itself a public good and takes no institutional standpoint. Due to copyright agreements we ask that you kindly email request to republish opinions that have appeared in print to [email protected].

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Making sure green household investment pays off

Policies are needed to support green fuel switching by households; support should be phased out as the carbon price rises. The first stage of decarbonisation in Europe was characterised by incremental improvements in energy efficiency and by replacing fossil fuels in electricity generation. To meet the EU’s ambitious 2030 targets, which will involve a reduction in annual greenhouse-gas emissions from about 3,600 million tonnes (2015 figure) to 2,100 million tonnes, it is now essential for...

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How to extend carbon pricing beyond the comfort zone

Rapid emission cuts need a carbon price for the whole economy. This must be introduced in careful stages.  The European Union has set itself an enormous task: reducing greenhouse emissions by about 40% compared to current levels in only nine years and essentially stopping those emissions by 2050. These targets go beyond the comfort zone of gradual replacement by cleaner alternatives of power plants, cars, planes, factories and heating systems that reach the end of their lifetimes....

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Navigating through hydrogen

Policymakers must address the need to displace carbon-intensive hydrogen with low-carbon hydrogen, and incentivise the uptake of hydrogen as a means to decarbonise sectors with hard-to-reduce emissions. Hydrogen is seen as a means to decarbonise sectors with greenhouse gas emissions that are hard to reduce, as a medium for energy storage, and as a fallback in case halted fossil-fuel imports lead to energy shortages. Hydrogen is likely to play at least some role in the European Union’s...

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Understanding the world of tomorrow through the great challenges of energy and climate change

“Only a broad policy framework – taking into account economic, fiscal, industrial, labour, innovation and social policy issues – can address the challenges of the climate crisis in a balanced way.” Energy plays a fundamental role in our societies and in our daily lives – without energy we would not be able to carry out the simplest activities: taking a hot shower in the morning, preparing breakfast, taking the children to school by car and then working on the computer, possibly in a suitably...

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Global Energy Fundamentals

Bruegel research fellow Simone Tagliapietra discusses his new book, Global Energy Fundamentals. As we move away from fossil fuels and toward clean energy solutions, the complexity of the global energy system has increased. With his new book published by Cambridge University Press, Global Energy Fundamentals, Simone Tagliapietra cuts through this complexity with a multidisciplinary perspective of the system, which encompasses economics, geopolitics, and basic technology. In this episode of...

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