MaroŠ Šefcovic’s energy union tour reached Budapest on Tuesday, with the European Commission’s vice president for the project attempting to rally support for a range of new proposals that would bind the 28 EU market areas together and ease security of supply fears.“New member states are still thinking of big projects and big capacities, but we don’t always think of what we already have in stock and what we can possibly save,” Šefcovic said on Tuesday at the EU building deep in Budapest’s western district.“One percent of energy efficiency allows us to import 2.6% less gas. You can imagine how we can change the parameters once we increase energy efficiency by 5-10%.” Source: Energy union tour reaches Budapest as market prepares for proposals – Natural Gas Daily – Interfax Global Energy
The EU reports that their member states are well on the way to meeting the EU’s target for 20% renewable energy in the overall energy supply by 2020. Presented on 16 June, the European Commission’s renewable energy progress report reveals that 25 EU countries are expected to meet their 2013/2014 interim renewable energy targets. In 2014, the projected share of renewable energy in the gross final energy consumption is 15.3%. Source: EU on track to meeting 20% renewable energy target – European Commission Well, although I doubt the methods for calculating the numbers, at least we are on the way.
Furthermore, Peter Reitz highlighted the contribution which the energy exchange makes to the success of the energy turnaround. “The market participants need products offering them even more flexible hedging against price risks. We have presented a concept on this and will launch so-called “energy turnaround products” this year. The Cap Futures, which the trading participants can use on the Derivatives Market to hedge against price peaks on the Intraday Market, form the starting point for this productseries.” Source: Summer Reception: EEX discusses the progress of market design with political representatives in Berlin – Parliamentary evening for the further implementation of the energy turnaround
http://www.eurelectric.org/ reports facts & figures on their website about the European DSO landscape: Around 98-99% of European network customers are connected to the distribution grid. In contrast to their transmission ‘highway’ counterparts, distribution networks are made up of the smaller roads and paths that deliver electricity to its ultimate point of consumption: Europe’s households and businesses. They are linked to transmission systems by around 10,700 interconnection points. Overall, there are more than 4 million distribution transformers in Europe. Source: Power Distribution in Europe – Facts & Figures