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    Refiners Should Not Be Making Above Normal Profits- Biden

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    Cluster of Businesses Want The EU To Improve Energy Security

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    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Italy’s Innovatec targets EUR 100m in revenue from new solar business

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    EU Endorses German 28-Billion-Euro Renewable Energy Plan

    No Way EU Can Be Part of The Energy Charter Treaty Anymore

    Nuclear Derived Hydrogen- France Looks To Have Support

    Australia's largest planned renewables zone swamped with 34 GW of capacity

    Iberdrola wins 25MW floating solar project in France

    Total launches battery-based energy storage project in France

    CIP and Amberside Energy partner to deliver solar and battery storage projects in the UK

    Iberdrola and Danone signed PPA for 590 MW solar park in Spain

    MPC Energy Solutions announced the start of operations for its solar plants in El Salvador

    Siemens Gamesa extends its €2.5 billion syndicated financing facility, linking it to ESG criteria

    Siemens Gamesa and Doosan Enerbility sign offshore wind partnership framework agreement

    Argentina reveals its nuclear new build plans

    Myanmar, Russia sign pact on developing nuclear power

    Construction begins on new units at two nuclear power plants in China

    MarketVector Indexes Licenses the MarketVector Global Uranium and Nuclear Energy Infrastructure Index to VanEck Europe

    2030 To See Germany Install 4-5 Onshore Wind Turbines A Day

  • Market Moves
    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

  • Press Statements
    India achieved a solar share of 10.69 percent of installed power capacity

    Altea Green Power inks deal with Aer Soleir to build 300MW projects in Italy

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    TotalEnergies starts up its fourth solar power plant in Japan

    ACCIONA Wind Energy

    ACCIONA Energia to supply 100% renewable energy to Grupo Violas in Portugal

    Fermi Energia Selects GE Hitachi Nuclear Energy BWRX-300 Small Modular Reactor for Deployment in Estonia

    Fermi Energia Selects GE Hitachi Nuclear Energy BWRX-300 Small Modular Reactor for Deployment in Estonia

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Nine New Countries Sign Up for Global Offshore Wind Alliance at COP27 in Sharm El-Sheikh

    SolarDuck to build 5MW floating solar demonstrator integrated with offshore wind farm

    United Kingdom Onshore Wind Generation Has Now Reached 37GW

    ABO Wind connects first wind farm in Poland

    US Authorities Seek To Reduce Regulations On Offshore Wind

    Europe’s latest wind offshore auction mainly using non-price criteria is a success

    Italy's Innovatec targets EUR 100m in revenue from new solar business

    Italy’s Innovatec targets EUR 100m in revenue from new solar business

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No Way EU Can Be Part of The Energy Charter Treaty Anymore

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EU Endorses German 28-Billion-Euro Renewable Energy Plan

The European Commission has informed the member countries that a collaborative EU exit from an energy treaty that’s controversial looks inevitable, with some nations already leaving the accord based on climate issues. The 1998 Energy Charter Treaty which has an overall 50 signatories that include the likes of EU countries was designed in order to protect the firms in the energy sector by granting them to sue governments on policies which were affecting their investments.

However, in recent years, the treaty has been used to challenge those policies that require the fossil fuel plants to end their operations, which has raised concerns that an obstacle is being created to address climate change.

Notably, Germany, the Netherlands, Spain, and Poland have already made it clear that they want to quit the treaty, which has added pressure on Brussels to go ahead with an EU-wide withdrawal. It is well to note that Italy left the treaty way back in 2016.

In one of the documents shared with the EU nations, the European Commission said that the most apt option would be for the 27-member EU to leave.

The withdrawal looks like unavoidable as per the document. A spokesperson representing the European Commission confirmed that there would be a EU exit recommended. As per the commission paper, several reasons led to the present situation.

There were some treaty members who agreed to accept some reforms in 2022; however, the EU rejected them, which meant that the unreformed treaty continues to be applied with stronger investment protections.

The part which is remaining of the treaty shall in all ways clearly undermine the climatic targets of the EU, as per the commission.

There is no point in renegotiations given the number of countries that are quitting individually. Notably, an EU exit shall require a support of minimum of 15 EU nations as well as the European Parliament which by the way has already backed the idea.

EU lawmaker Anna Cavazzini, who was the one authoring the parliament resolution said that the paper is the stepping stone for the end of the EU’s involvement. She added that if the European Commission is considering an exit as a serious option, then the question is when and how. Even if countries opt to leave, a sunset clause will mean that the treaty will go on to protect existing fuel investments for the next 20 years.

Therefore, it may as well be a situation where EU countries among themselves could agree not to apply this particular clause. But that would happen only when other treaty members agree such a Japan, Azerbaijan as well as former EU nation, Britain. As of now, no other non-EU party has given any indication that they would be going ahead with such a solution.

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