6 thoughts on “Monday Message Board

  1. The EU Council has agreed on a binding 2030 target for renewables in energy supply of 32%: up from the previously mooted 27%, less that the 35% the Parliament was asking for (and could still put up a fight for, it’s not final yet). Not exciting but there is a review ratchet in 2023. 32% will become a floor that investors can rely on. The certainty should push deployment higher. (****theguardian.com/business/2018/jun/14/eu-raises-renewable-energy-targets-to-32-by-2030)

    The EU is SFIK still using the misleading metric of final energy consumption, with does not properly reflect efficiency gains. The emissions target cut is accordingly higher, at 40%. The increase of 5% overall for renewables does not look much, but it’s +18% on 27%. The impact on electricity supply – a third of all energy – will be more dramatic. Renewables will have to provide the majority of all electricity in the EU, and governments will have to push the accelerator on electric transport and buildings.

    The UK only wanted 30%. We’ll see if the higher target gets baked into the Brexit deal, assuming there is one: by no means certain given the resolute ostrich policy is London over the commitment to no hard border in Ireland. Simon Wren-Lewis is splendid on this.

  2. PS: the deal (which involved negotiators from the Parliament, which is therefore likely to stick to it) also included a 14% target for electric transport, and recognition of a citizen’s right to produce, self- consume and sell renewable energy, meaning solar. This was a key feature of the pioneering German EEG round 2000, and will become European law too.

  3. Didn’t they make some excuse to take the national broadband network off-budget? I don’t know the details but I think having anything off-budget is really dishonest and gives us a bad idea of the size of the deficit. If they wanted to have a second set of figures where investments were slowly recognised as expenses (via depreciation like the private sector) they could do that, but not as the first headline set of figures. I guess I have a bit of an axe to grind on this matter because the NBN was a great idea. But it ought to have been a strictly communist undertaking, and invested out of a surplus budget. It drives me nutty these hybrid undertakings where instead of being strictly private, or strictly public they make it cronyist and bankers are falling over themselves to get their snouts in the trough, spreading red ink everywhere.

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