THE EU ENERGY UNION. A view from stakeholders. Carmen Vindel Director of European Institutions Regulation. Madrid 25th November 2016

Transcription

1 THE EU ENERGY UNION A view from stakeholders Carmen Vindel Director of European Institutions Regulation Madrid 25th November 2016

2 Index 1. The new European Commission 2014/ The Energy Union Communication 3. EU Challenges for energy utilities 4. Conclusions 2

3 1 The New European Commission 2014/2019 President Junker s five priorities: 1.- Growth & Jobs 2.- Energy 3.- Trade agreement with the USA 4.- Reform of the monetary union 5.- Answer the British question Energy is one of the top five priorities in the agenda of the European Commission

4 1 The new European Commission 2014/ The Energy Union is the political project of the EC that wills to transform in depth the European Energy Sector. 13 out of 27 Directorates are involved 4

5 12 The Energy Union Communication (Feb 2015) In the Communication, the Commission states its will to achieve: The completion of a real European Internal Market The EU Climate and Energy goals for INTEGRATED & INTER- CONNECTED SUSTAINABLE RESILIENT AND SECURE Energy & Climate Roadmap 2050 The Commission set 26 policy iniciatives to be developped in

6 2 Energy Union Main Policy Iniciatives AREAS Action AREAS Action Infraestructure Infrastructure targets / PCIs Climate Action ETS/ Non-ETS Electricity SoS Elec / Market Design Energy Efficiency Energy Efficency Package Retail New Deal Energy Consumers Heating & Cooling Heating & Cooling Strategy Gas SoS Gas / GNL & Storage Strategy External Policy IGA s/ External Diplomacy Renewables New Renewable Directive Regulatory Framework ACER Role Transport Decarbonizing Transport Sector The European Commission has already tabled many legislative proposals

7 2 Energy Union Consistency ETS/ NON ETS Security of Supply ENERGY EFFICIENCY EU RULES CONSUMERS RENEWABLES Logic policy decision making to choose measures to achieve our targets in a cost efficient manner. Clear and predictable rules are crucial

8 3 EU Challenges for energy utilities MARKET DESIGN & RES THE ROLE OF NATURAL GAS CLIMATE CHANGE Short term Medium term Long term Energy Union should integrate all efforts related with the climate and energy EU objectives

9 3 1. Market Design & RES The upcoming package Clean Energy for All will cover: Directive of Electricity Internal Market Regulation for Electricity Market Risk Preparedness Regulation of Security of Supply Revision of Energy Efficiency Directive & Energy Performance of Buildings Revision of Renewable Energy Sources Directive Directive for an Energy Union Governance Final report of the DG Competition s Sector Inquiry on CRMs Regulation for an Agency for Cooperation of Energy Regulators Report on Energy Prices and Costs Communication on Innovation The upcoming legislative package will cover the whole chain of the electricity sector, as well as other major topics such as Energy efficiency and Renewables

10 /MWh 3 1. Market Design & RES Fall of European wholesale electricity prices 90,00 80,00 70,00 60,00 50,00 64,28 Wholesale Electricity Markets (Average price) 41% OMIE (ES & PT) IPEX (IT) POWERNEXT (FR) NORDPOOL (Nordic) APX NL EEX PHELIX (DE) APX UK 40,00 30,00 37,84 20,00 10, European electricity prices halved in the last 8 years, endangering the reliability of these prices The increasing penetration of RES displaces marginal units and prices fall

11 tco The Role of Natural Gas in the EU CO 2 emissions in the Spanish s power sector % Total emissions Coal CCGT Cogeneration/Others Natural gas should play an importat role in the EU Energy Transition

12 3 3. Climate Change Targets 2030 Goal Objective Target Scope Global emissions Global Emission Reduction vs % European: binding target (National subtarget for non-ets sectors) Energy Efficiency non-ets Reduction of non-ets sector emissions sector 30% Primary Energy Reduction vs. consumption path vs emissions 27% Europe: indicative target estimated in 2007 Renewables ETS Reduction of ETS sector emissions 43% emissions vs Final Energy demand from RES 27% Europe: binding target Energy and climate targets are the long term challenge

13 4 Conclusions 13

14 4 Conclusions CONSISTENCY OF OBJECTIVES GOVERNANCE TO ACHIVE TARGETS STREGTHEN THE ETS FOR ENERGY TRANSITION NEW MARKET DESIGN THE ROLE OF GAS

15 Thank you very much.

16 This presentation is the property of Gas Natural Fenosa. Both its subject matter and its graphic design is for the exclusive use of its staff. Copyright Gas Natural SDG, S.A.