No 1 source of global mining news and opinion
The proposed changes to the EU’s “electricity market design” are a response to the spike in European power prices following Russia’s invasion of Ukraine in February 2022.to Spain’s Energy Minister Teresa Ribera, mean that “consumers across the EU will be able to benefit from much more stable prices of energy, less dependency on the price of fossil fuels and better protection from future crises”.
Wholesale pricing will continue to be determined on a pay-as-clear model, where bidding goes from the cheapest to the most expensive source, which tends to be gas. It’s just that it’s now LNG rather than Russian gas that sets the price. Rather, the focus will be on longer-term price stabilizers such as power purchase agreements between generators and users and two-way contracts for difference for investment in new green generation.U.S. aluminum producer Alcoa is a poster child for Europe’s PPA model, using it to help secure the long-term future of its San Ciprian smelter in Spain.
With limited forward liquidity in the company’s local Nordpool power market, “no one’s willing to take the risk on a fixed-term PPA”, he said. The EU reform package is intended to iron out some of these problems by, for example, mandating member states to ensure guarantee schemes for smaller companies looking to enter PPAs.
Metals producers are not only having to adjust to currently high electricity costs but face even higher costs as they seek their own pathway to net zero.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Monster High Series NEW SCAREMESTER Coming 2024 Thanks to Fan DemandMonster High's big return includes an all-ages title from IDW Publishing in 2024 - Monster High: New Scaremester, the franchise's first monthly comic.
Read more »
Column: Why the NIT rules destroying mid-major college basketball are bad for the gameThe latest knee-jerk reaction in college athletics comes at the expense of mid-major basketball programs and conferences. In a shocking announcement on October 27, the NIT Board of Managers made major rule changes to which teams can qualify for the NIT. Instead of granting automatic bids to ...
Read more »
Letters to the Editor — Texas Rangers, column on childhood, Dallas mayor, Texas politicsLetters to the Editor
Read more »
NBA roundup: Grizzlies stun Blazers, break into win columnDesmond Bane recorded 30 points, eight rebounds and five assists and the Memphis Grizzlies picked up their first win of the season with a come-from-behind 112-100 victory over the host Portland Trail Blazers on Sunday night.
Read more »
New York, New Jersey vigils call for release of Israeli hostagesThere was a sense of grief, sadness and anger in the air in Plainview. In Montclair, New Jersey – the organization, Bring Them Home, decorated a large table, set for dinner, with no guests attending the metaphorical dinner party.
Read more »
Column-Leveraged funds record short Treasuries bet may be vulnerable: McGeeverColumn-Leveraged funds record short Treasuries bet may be vulnerable: McGeever
Read more »