NUS Consulting Group

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Novedades clave en el sector energético español hacia un sistema eléctrico más sostenible y seguro: El Ministerio para la Transición Ecológica y el Reto Demográfico (MITECO) ha lanzado una consulta pública sobre la creación de un nuevo mercado de capacidad en el sistema eléctrico peninsular español. Este mercado busca garantizar la seguridad del suministro eléctrico, fomentar inversiones en tecnologías renovables, almacenamiento y gestión de la demanda, y avanzar en la transición hacia una economía neutra en carbono. Algunos de los puntos destacados del mecanismo propuesto son los siguientes: - Participación abierta: Generadores, almacenamiento y consumidores podrán competir en subastas por ofrecer flexibilidad al sistema. - Incentivos claros: Retribuciones para actores que aseguren capacidad firme mediante generación o reducción de consumo. - Requisitos verdes: Solo se admitirán tecnologías con emisiones inferiores a 550gCO₂/kWh. - Tres tipos de subastas: Incluyen opciones principales, de ajuste anual y transitorias. - Mercado secundario: Promoverá la liquidez y eficiencia del sistema. Para más información sobre todo lo relacionado con el nuevo mercado de capacidad en el sistema eléctrico peninsular español, puede contactarnos mediante email a [email protected] o a través de nuestra web en https://lnkd.in/dkGVCz4A.

May you live in interesting times. 1. The French government is in disarray. 2. The German government has collapsed and is heading for early elections (with the economy struggling to stay out of recession). 3. The UK's new (labour) government is struggling to gain traction as the economy has posted a 0.1 decline in October. 4. The Assad regime has collapsed, and the new government is on the US terrorist list; meanwhile, Israel is bombing as much military equipment in the country as possible. 5. The Ukrainian government is losing ground in the east at its fastest rate since the start of the war, and the new US administration may curtail its use of long-range weapons. 6. China just ran one of its biggest naval exercises ever near Taiwan (and its economy is not looking too healthy). 7. One of Canada's most prominent cabinet members (Chrystia Freeland - Finance Minister and Deputy PM) has resigned from the government. Let's hope 2025 brings some much-needed good news and stability. However, it is better to hope for the best but to plan for the worst. Time to review your energy risk management plan to make sure it is ready for 2025.

There has been news out of Norway that the two principal parties making up the government wish to scrap the electricity interconnector with Denmark, and the junior coalition partner is calling for a renegotiation of power connections with the UK and Germany. The Denmark interconnector agreement comes up for renewal in 2026. This comes on the heels of spot and day-ahead power prices in both countries (actually across Europe) rising sharply due to a lack of renewable generation. The Norwegian government claims that being connected to Europe is raising local electricity prices - Norway, an abundant hydroelectric producer, is helping balance energy pricing in Europe. The idea of "price infection" from Europe to Norway will be an election issue and will not be well-received by the EU, which is pushing for further integration of the national energy systems. Recently, pricing in Norway's southwestern zone (NO2), where the interconnector is situated, saw prices hit a two-year high of €350/MWh while prices in the North were trading at €10/MWh. Again, the unpredictability and increasing reliance of national power systems on renewable energy is increasing price volatility and stressing national versus regional interests.

La reciente resolución del gobierno español incentiva más si cabe la realización de proyectos de eficiencia energética susceptibles de generar Certificados de Ahorro Energético (CAEs) que produzcan una reducción intensiva de emisiones de CO2e. El nuevo sistema de coeficientes hace que, en términos prácticos, cada kWh ahorrado con proyectos que reduzcan al menos 200.000 toneladas de emisiones de gases de efecto invernadero al año pueda generar más de un CAE, dado que se les aplicará un coeficiente multiplicador de entre 1 y 2,5. Para más información sobre todo lo relacionado con los Certificados de Ahorro Energético, puede contactarnos mediante email a [email protected] o a través de nuestra web en https://lnkd.in/dkGVCz4A.

US natural gas inventories for the weekend ending 6 December 2024 fell by 190 Bcf for the week. This was the biggest withdrawal so far this winter season and exceeded the median forecast of 175 Bcf. At the close of the survey week, US natural gas inventories stood at 3,747 Bcf, which is 165 Bcf (5%) above the five-year average and 67 Bcf (2%) more than last year. To give some idea of the overall withdrawal size, the five-year (2019-2023) average net withdrawal was 71 Bcf, and last year's net withdrawal was 72 Bcf for the same week. As expected, the pushed prices higher with the front-month contract JAN 25 closing at $3.55 and CAL 25 closing at $3.29 per MMBtu. The excess inventory gap is closing quickly and, in the coming weeks, may go negative for the first time in many months.

With rising demands for climate action, companies are under pressure to set credible greenhouse gas emissions reduction targets. The Science Based Targets (SBTi) initiative provides a globally recognised framework that helps companies align their targets with climate science, ensuring they contribute meaningfully to the Paris Agreement’s goal of limiting global warming to 1.5°C. NUS’ Energy and Sustainability Services (ESS) team provide a range of services which can directly support alignment and validation with the SBTi, including: 🌲 Scope 1, 2 and 3 GHG Assessments 🌲 Net zero target-setting 🌲 Decarbonisation Roadmaps 🌲 On-site energy audits 🌲 Implementation of decarbonisation levers Please review our attached report or for more information on how NUS can support your company with aligning with the SBTi and other sustainability certifications, contact your NUS consultant or email the ESS team at [email protected]. #SBTi #Scope3 #Decarbonisation #NetZero #NUSConsultingGroup #EnergyAudits #SustainabilityCertification #CarbonEmissions #ParisAgreement #DecarbonisationRoadmap 

European day-ahead electricity skyrocketed across much of the region as forecasted lower renewables production and increased demand (due to unseasonable cooler temperatures) spooked markets. The significant increase and growing system reliance on renewables is increasing overall market volatility.

Syria Update As expected, developments in Syria are coming thick and fast. The US has been strategically bombing ISIS sites. Israel has been bombing old Syrian military sites, attempting to destroy airplanes and equipment to keep them out of the hands of potential adversaries. Also, Israel has moved its military into the Golan Heights to take up positions abandoned by the Syrian army. Egypt is claiming this is a breach of the 1974 Armistice Agreement and wants the UN to take action. For the moment, Russia appears to want to hold onto its base at Tartus. We expect the US and Israel to continue bombing targets in Syria (now that the Russian air force is no longer a real threat). Whether Russia can hold its bases is yet to be seen. Finally, the Golan Heights could be a flash point. Let's see what the new government in Syria looks like and how all of the factions react.

Assad's Fall If anyone had the Assad regime falling to Hayat Tahrir al-Sham (HTS) in a mere matter of days as one of their top geopolitical risks for the end of the year and start of 2025 - I would summarise in one word - impressive. The civil war in Syria has been ongoing for more than a decade, with major players, like Iran, Russia and Turkey, all playing a pivotal role. A confluence of factors has conspired to support HTS' swift victory. First, Israel's dismantling of Hamas and Hezbollah (both Iranian proxies) and its weakening of Iran itself contributed to Assad's fall. Second, Russia's war with Ukraine has tied up precious military resources. Finally, a resurgent Turkey, which is fast becoming a regional player, contributed to HTS's success. HTS has a long and checkered history. Presently, it is on the US list of banned terrorist groups. Syria remains a patchwork of different rebel factions and religions. How HTS and its leader, Abu Mohammed al-Golani, adjust to going from rebel to established government will be interesting to watch. With Russian bases in Syria and borders with Israel, Turkey, Iraq, Jordan, Lebanon and Israel - the country is a critical crossroad in the region.