I am celebrating the 20th of
@EUI_FSR
I was there in 2004, under the leadership of Loyola de Palacio, Pippo Ranci, Jorge Vasconcelos and Ignacio Perez Arriaga.
A few month later, Andris Piebalgs & Christopher Jones joined.
I took the bar of the ship, four years later: 2008.
#FSR20More
✨
Former director and co-founder of the FSR, Prof Jean-Michel Glachant (
@JMGlachant
), looks back on the school's achievements and ahead to its future role in addressing the global challenges of climate change.
🎬Watch the video: .
Is Europe suddenly winning the gas war with Russia?
Prices dropped 65% since August peak
Storage caverns are filled
Even seaborne LNG tankers are now so plentiful there are traffic jams forming outside European terminals as they wait to unload.
Germany closing its last 3 nuke reactors:
“We are shutting down world-class plants that have been operated safely and reliably for decades by world-class staff and experts”
said Leonhard Birnbaum, chief executive of the German utility Eon.
Goodbye friends! Goodbye dad and mom!
World biggest chemical company, BASF from Germany, says it has to downsize ‘permanently’ in Europe…
With high energy costs making the region increasingly uncompetitive.
Massive underground deposit of high-grade phosphate rock in Norway, pitched as the world’s largest, is big enough to satisfy world demand for fertilisers, solar panels and electric car batteries over the next 100 years, according to the company exploiting the resource.
'Great news': EU hails discovery of massive phosphate rock deposit in Norway.
Phosphorous is used mainly as a fertiliser but also in the manufacturing of solar panels, lithium-iron-phosphate batteries, semiconductors and computer chips.
More:👇
Turkish President sacked the head of national statistics agency, Saturday January 29, after publication of annual inflation figures in early January that put Turkey annual inflation rate at 36.1%, its highest level in 19 years.
From
@FT
Political views on 3 strong climate policy tools in UK, Germany, US & France
•Banning fossil engine cars
•Taxing frequent plane flights
•Tripling public investments in renewables
@WonderSo_
Ma fille était à la terrasse de ‘La Bonne Bière’
mais s’est sentie fatiguée
et a demandé à son copain de rentrer beaucoup plus tôt que prévu.
5 meurtres un peu plus tard.
The
@FT
calls for a ban on SUVs:
•consume too much gasoline
•hurt & kill to much people in accidents
‘’We should regulate SUVs out of existence …/…
In short, we need to legislate away huge cars. After all, we ban other dangerous substances… ‘’
2.
Most traders will cautiously concede that Europe’s fortunes have improved.
But a heavy note of caution still hangs in the air. Daring to believe that the energy crisis has somehow been resolved is dangerous given the scale of the remaining challenge.
‘’Handbook on electricity markets’’
on sale
@Elgar_Economics
Edited by P. Joskow MIT
M. Pollitt Cambridge U.
and me
@FSR_Energy
Join our
@IA4EE
webinar Monday 15 Nov. 4pm CET to discuss issues & get 50% reduction on Handbook
My sister died this afternoon
She was my closest in our brotherhood of 9, at father’s butchery
We both took the social elevator open to baby-boomers
2 of our older 3 brothers became workers at our butchery
The 3d, her & me became the first Glachant entering university…
💓💝💓
Just elected
@IAEE
President
I will serve from 1 January 2022 as President-Elect…
‘’International Association for Energy Economics’’
> 4,000 members in 100 countries
2 scientific journals
•Energy Journal
•Economics of Energy & Environmental Policy
> Great Honor + Big Joy!
Giant heat pumps:
MAN Energy's biggest has a total heating capacity of 48 MW
Producing temperatures of up to 150C
or heating thousands of homes.
MAN recently installed 2 of these machines in the port city of Esbjerg, in Denmark.
French minister for energy:
Our government has nationalized EDF at 100% to take control of its assets & industrial strategy
The nuclear plants are owned by the country: the country will determine the price of this electricity and not the company.
The reference ‘’Handbook on Electricity Markets’’
All over the world
I am publishing with
•Paul Joskow (MIT)
•Michael Pollitt (Cambridge U.)
22 Chapters
> 600 pages
On shelves in November 2021
Just enough time to order one
A thread >>
Urbi et Orbi:
I am delighted to welcome Leo
@LeonardoMeeus
as the next Director
@FSR_Energy
on October 1st
Our School has been created in 2004 by J. Vasconcelos, P. Ranci, I. Pérez Arriaga, etc.
Long life to Leo’s digital native generation!
❤️🌻🎧📲🎧🌻❤️
3.
Europe could quickly burn through its gas reserves, potentially leading to extreme tightness after Christmas.
Gas at around €115 per MWh is still equivalent to almost $180 a barrel in oil terms.
Contracts in December and January are above $230 a barrel equivalent.
Lufthansa would consume 1/2 of Germany electricity production to switch its fleet to synthetic green fuel e-kerosene,
according to its CEO, underscoring the challenge in reducing emissions from air transport, on Monday 25 Sept.
5.
Weather’s dominance over the EU gas market means he’s not quite prepared to say the worst is definitely over.
However, if the winter is mild, then Germany, EU biggest economy, could end the season with its storage facilities almost half full.
Historic shift:
Finland’s Green Party voted overwhelmingly to adopt fully pro-nuclear stance at its national meeting
Party manifesto now states that nuclear is “sustainable energy” and demands legislation to streamline approval process for SMRs…
The era of cheap offshore wind is over in the UK…
Vattenfall, one of world’s biggest offshore wind developers, put the brakes on 1.4 GW in UK waters.
Britain has set target of 50 GW offshore wind by 2030. With seven years to go, it is >36GW short.
Just elected
@IAEE
President
I will serve from 1 January 2022 as President-Elect…
‘’International Association for Energy Economics’’
> 4,000 members in 100 countries
2 scientific journals
•Energy Journal
•Economics of Energy & Environmental Policy
> Great Honor + Big Joy!
Shortage of CO2 is causing German drinks manufacturers to cut production and warn of bankruptcies,
in the latest sign of how Europe’s energy crisis is sending shockwaves through the region’s economy.
With the installation of Northwester 2 in May Belgium reaches 1,775 MW installed capacity and outranks Denmark as 4th
#OffshoreWind
energy producer worldwide
#EnergyTransition
Hardest part of EVs still to come:
EU auto industry employs 3.5mn people directly in manufacturing.
Ford chief executive Farley estimates that EVs require 40% fewer people to make
— the equivalent of 1.4mn job losses if applied across the industry.
6.
But if it is just slightly colder than normal, then “German gas inventories would be virtually depleted by end-March, possibly requiring late winter rationing or supply cuts”.
Remarkable climate policy defined by Prime Minister New Zealand Jacinda Ardern (39 years old)
•Carbon neutral in 2050
•Power 100% renewable in 2035
•Agriculture emissions to be measured and priced
•Agriculture methane emissions to be reduced by 80%
Head of
@IEA
@fbirol
openly critics European countries which close their nuclear plants before closing their dependence to Russian fossils and other fossils.
From
@lemondefr
Friday 11 March
With
@CGollier
from
@TSEinfo
I call all Europeans to voluntarily consume less energy to stop financing Russian army
Each kWh electricity, gas, oil that one consumes has to be weighted carefully
EU has to stop sending €20bn monthly to Russia
Germany acts:
Germany is rationing hot water, dimming its street lights and shutting down swimming pools…
as the impact of its energy crunch begins to spread from industry to offices, leisure centres and homes.
France revolutionizes heating
French new environmental regulations (RE 2020) prohibits installing gas heating in new housing, offices and educational buildings from next year
And for collective housing from 2024
Today, 1 October, the Director of Florence School is
@LeonardoMeeus
I wish him & my beloved
@FSR_Energy
illimited successes at service of our ideals & audiences
I thank my colleagues & partners for 14 wonderful years
I don’t leave FSR & come back to research.
@sbechaux
Excellent résultat : votre fille mérite plus !
Je me souviens aussi de ma classe de 3é : on n’est plus un enfant. Mais un adolescent. Grande différence.
Ma mère a totalement arrêté de ‘’m’habiller’’. J’ai choisi tous mes vêtements. En 1964 ; dans une ville de 4000 habitants …
We, Europeans, have to stop sending €300bn to Russian state budget every year, to finance its army agressions
We have to voluntarily stop using Russian fossil fuel
All of us can decrease heating by 1C
I do it & I am 72 years old!
It won’t hurt you & you will be so proud!
Very Happy New Year to all of you!
I am the 2022
@IA4EE
President-elect
An honor & a joy to serve energy economics all over the world
with President Peter Hartley
I got IAEE Award 2018 for ‘Outstanding contributions to energy economics & literature’
My last 2021 publications:
Why economics does not understand business?
From
@TheEconomist
1. Allocation of resources in economies occurs not in markets but within firms. Prime movers are employees, directed not by price signals but by administrative fiat.
French utility
@EDFofficiel
new estimate of its loss of revenues due to very low availability of its nuclear reactors:
For year 2022, it would now be €32 billion
You can read twice: what company can survive to losing €32bn by unavailability
890,000 EVs registered in Germany over past 10 years, vast bulk bought with grants
> just 756,517 remain in the country
•A small number of the missings have been taken out of service
•Most have been sold in neighbouring countries at a profit…
@skdh
Wonderful to know, Liebe Sabine.
At 28, I was student in Master course La Sorbonne University; not knowing that I will defend a PhD, get a tenure, etc.
Life is so surprising!
I was born 5th kid of poor butcher in small village. Entering university was seen as landing on the moon.
UK has left EU market coupling & trades electricity interconnector capacity separately of energy market trade
This loss of market integration added £250mn to wholesale electricity costs in 2021 and is expected to £440mn by the end of this year.
Just vaccinated with AstraZeneca
Many thanks to Region Tuscany, City of Florence, all vaccination staff, and my wonderful assistant Elena for their efficient & friendly help
Mille grazie a voi!
Bravissima l’Italia!
Klaus Müller, head of the German Federal Regulator, said the power crisis “isn’t over” and much depended on whether next winter would be colder than the last.
“The danger of a gas shortage is still there,”
Vladimir Putin much more broke than we think:
Deutsche Bank estimates that Russia earns 1/3 prewar fossil fuel revenues
And increasingly expensive — roughly 2 global average — to extract it:
$45 to extract oil barrel + $12 to get it to its customers.
Today Saturday 9 April 2pm
Western Europe electricity price
•Portuguese - Spaniards - French pay €221 per MWh
•Germans & Dutch are paid €2.49 to consume; Belgians get €17.97 to consume more!
> It tells that we need more EU internal energy market & haven’t yet enough!
Saturday 23 April
Wholesale electricity price in France at 2pm
France €207
SpainPortugal €3.7
Germany €0.08
Belgium -€65 (paid to consume)
NL -€215 (paid to consume)
> No doubt Marine Le Pen will blame European internal market
Because the French pay that much!
BMW’s chief executive warns that EU plans to ban combustion engine vehicles…
is pushing European makers of cheaper cars into a price war with Chinese rivals as BYD that they are unlikely to win…
French government prepares our country to an ‘’energy war economy’’
with a new law draft, to be sent to Parliament next week
and giving to state administration the unilateral right to manage the whole gas & coal industry in France
Closing soon Californian nuclear (2,200 MW & 18 TWh a year) before having closed all existing coal or gas plants
looks just crazy, vis-à-vis the absolute emergency we have with climate change...
From
@FT
Germany, having no LNG import terminals, searches locations North Sea & Baltic Sea for 3 floating LNG terminals capacity 27 bcm, estimating the 1st operating this year
Jason Feer, at energy Poten & Partners, predicts Germany’s 1st will not be up & running before 2024.
After China had called on India to 'stay objective and calm' and avoid 'over-interpreting' the issue of the Chinese new map, India now published its own map.
I am the new
@IA4EE
President in year 2023
•I am Vice-President French Chapter
@FR_AEE
& Professor at
@FSR_Energy
European Institute EUI
•I got IAEE Award 2018 for ‘Contributions to Energy Economics’
•I was Chief-editor IAEE Journal ‘EEEP’ 2012-16
Founder of Fortescue Metals Group, one of world’s biggest producers of iron ore, accuses western politicians of “propping up the Kremlin” by relying on natural gas imports from Russia instead of ramping up production of alternative energy capabilities.
Germany should stop trying to impose its views on nuclear power on the rest of the EU (and France)
Head of E.ON, one of Europe’s largest utilities, warned
as he stressed its importance in the region’s clean energy transition.
Spanish minister
@Teresaribera
entrusts
@NataliaFabra
with the reform of electricity market
Carlos III University is awarded a technical assistance contract to deliver a proposal to reform the EU wholesale electricity market
Introduction to the new business models in the electricity sector
My latest research 2019 at
@FSR_Energy
A 14 pages Working Paper
>>
Downloadable there
>>
Shell cancels its €300 million floating offshore wind project in French Brittany
General Electric manufacturer of wind mills cannot deliver; its successor Vestas too faced difficulties
+ Manufacturer of floaters (Naval Group) the same
> Game over
My intellectual life started here: Paris, La Sorbonne University, in September 1973.
And was celebrated here again, 50 years later in September 2023.
Humanity has two ways of mastering its destiny: brain & heart.
As our muscles, assets & tech are only tools:
And so what?
editorial FT
Nuclear is more expensive than renewables
The challenge of safely storing nuclear waste has not been entirely resolved
Recent experience in Europe, US is almost of projects completed late and over budget. That has put off private investors.
From Bloomberg
French power futures rose to highest level this year after
@EDFofficiel
found further indications of corrosion on its nuclear fleet, potentially worsening Europe’s supply crisis.
French nuclear capacity is at lowest in decade
From
@TheEconomist
Europe’s energy market being not built for this crisis, faces 3 challenges
1.
First, to preserve marginal-price signal, for both generators & consumers, in the face of political pressure to weaken it.
New warning from
@EDFofficiel
on its nuclear output in year 2022
The new estimate is 280 to 300 TWh down from previous estimate 295-315 TWh
This suggests that France nuclear capacity factor in year 2022 could be as low as 52%
From
@MLiebreich
Replacing the 94 million tons of dirty H2 used today (made from unabated natural gas and coal)
with green H2 made from renewable energy
would require 143% of all the wind & solar installed globally to date.
-/-
Me: That’s it!
New type of cracks caused by stress corrosion discovered in France nuclear plant
The former ones were a few millimeters deep
The new one at Penly 1 would be “massive”:
23 millimeters on a pipe 27 millimeters thick…
Deeper investigation is performed.
Spanish oil corp. Cepsa plants in Gibraltar & Frontera will produce 300,000t Green H2 a year.
Investment of €3bn, powered by solar & wind with another €2bn.
To be carried to Barcelona by a domestic pipeline network planned by Enagás, Spain’s national gas grid operator.
Saint-Gobain manufactured flat glass using 30% hydrogen during recent R&D trials in Germany
This will complement other decarbonised energy sources and will reduce the site's direct CO2 emissions (scope 1) by up to 70%.
In
@EURACTIV
I do call our EU & national leaders to clarify what goals they target with EU electricity market design reform
YES
EU can better protect, better secure and accelerate
BUT
Electricity market reform is no silver bullet for EU energy crises
Boston Metal, 9 years old startup, spin-off of Massachusetts Institute of Technology, has produced only a few tons of green steel...
Having raised €50m this January, it will build a demonstrator that can produce 25,000 toms a year
According to
@Reuters
Giant batteries that ensure stable power supply by offsetting intermittent renewable supplies
are becoming cheap enough to make developers abandon scores of projects for gas-fired generation world-wide.
From Bloomberg:
Iberdrola, Orsted, Vattenfall, unable to deliver 3.5 GW of Offshore projects
Signaling a significant cost inflation for US & Europe offshore wind developers.
New EDF commitment with its nuclear fleet, on Friday 2 Sept:
All reactors will be generating in February 2023
+12 reactors generating in September 2022
+4 in October
+7 in November
+4 in December
+ 5 in January or February 2023
New EU rules:
carmakers must cut average fleet emissions < 95 grammes CO2 per km by 2021
Facing €95 fine per gramme of CO2 > target
multiplied by number of cars sold that year
> “A potential €30bn penalty for the industry,” says Volkswagen chief executive Herbert Diess
Much faster stop to Russian oil & gas in EU and in Germany, please!
>The call from the Head of
@Bruegel_org
>That I strongly support as Head of
@FSR_Energy
Both EU & Germany can stop faster using Russian oil & gas, must stop funding Putin’s war, please!
The EU and Germany need to get rid of Russian oil and gas much faster than they want to. We must not continue funding Putin's war. My colleagues explain how the US needs to help limit the damage to Europe. It is feasible.
IEA warns Europe to prepare immediately for total shutdown of Russian gas exports, urging governments to take measures to cut demand and keep ageing nuclear power stations open.
Wednesday 28 December 3am
•Electricity for free in France & Germany
AND
•You were paid in Belgium & Netherlands to consume it
I know, it’s 3am…
> BUT you were paid to consume
>> A bit of fun, no?
😉
UK minister aims to push power generation capacity by 2030…
•Solar power from current 14 GW to 50GW
•Offshore wind from 11GW to 50GW
•Onshore wind from 15GW to 30GW
•Nuclear power from 7GW to 16GW
45,000 tweets today
•I started 5 years ago, to please my social media assistant & keep esteem of my team
•I discovered it’s a duty for honest citizens & food for thought in the enlightenment of democracy
•I seriously imagine Immanuel Kant & John Maynard Keynes...tweeting!
Excellent news from Berlin
Forget ‘Make America Great Again’
Here comes ‘Make Europe Strong Again’
German government chose
“Gemeinsam. Europa wieder stark machen”
“Together. Making Europe strong again”
— for its upcoming EU Council presidency July 1
A ‘never seen’ in France’s institutional life:
French highest public law court (our ‘Conseil d’État’) decides that our government has 3 months to demonstrate that
our country is on a trajectory guaranteeing that our national 2030 GHG reduction target will be met.
Émissions de gaz à effet de serre : le Gouvernement doit justifier sous 3 mois que la trajectoire de réduction à horizon 2030 pourra être respectée >>
#R
échauffementclimatique
‘’The Future of Energy Storage’’
9 chapters, 400 pages
study of technologies & economics of energy storage by MIT Energy Initiative
@mitenergy
World Top Quality in research…
Florence reproduces
2 Italian economists Guglielmo Barone & Sauro Mocetti compared Florentine taxpayers in 1427 to those in 2011
Comparing family wealth with same surname today, richest families in Florence 600 years ago remain the same now
My latest paper on ‘’Peer2Peer in electricity sector’’
Gives you a handy compass to enter the field and understand the main issues
Being:
•Pricing Mechanism
•Transaction Loop
•Delivery Loop
Ending in:
•Modular architecture + Multiple veto rights
My last paper on clean Hydrogen costs 2030 & 2050: what we know & what we don’t know
Co-authored with my close researcher at
@FSR_Energy
Piero
@ReisPiero
Shortage of lithium for producing batteries for mobile devices & electric vehicles is putting the energy transition at risk…
In January 2021 lithium carbonate cost $9,600 per tonne
End of January 2022 more than $50,000 per tonne.