LEAK: EU considers expanding role of gas in green finance

Posted: March 12, 2021 by oldbrew in Energy, Uncertainty
Tags: , , , ,

Germany’s main gas supplier: Russia


Countries like Germany must know that once all their nuclear and coal plants have been closed (by order), their security of electricity supply would be heading towards zero without gas and imports. Saying it’s just a question of peak demand is nonsense, and they know that as well, but still pursue their delusional energy policies. What happens after 2050 when the gas is turned off is a mystery.
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The European Commission is reconsidering the position of gas in its sustainable finance taxonomy by recognising the fossil fuel’s role in keeping the lights on during peak electricity demand, according to a leaked document seen by EURACTIV.

The EU executive is currently drafting a rulebook for sustainable finance, drawing up a complete set of criteria defining what can be considered as a “green” investment in the European Union.

The draft rules – or “delegated acts” in EU jargon – are an essential part of plans to bring private finance onboard with Europe’s transition to a zero carbon economy and prevent greenwashing from firms making false environmental claims.

However, environmental groups have voiced concern that a leaked proposal to expand the remit of fossil gas in the taxonomy could in itself amount to greenwashing.

“Stakeholder feedback has highlighted that gas-fired power generation plays an important role in guaranteeing the reliability of electricity supply by compensating for times of low generation by intermittent renewable energy generation (wind, solar) and contributing to grid stability,” the leaked proposal says.

To acknowledge this, the draft text puts forward two options:

— The first recognises a role for “gaseous and liquid fuels” in providing a backup role for electricity generation, provided that “the direct greenhouse gas emissions of the activity are lower than 244gCO2e/kWh” or lifecycle emissions are “lower than 820 kgCO2e per kW of net installed capacity.”

— The second is to create a new category recognising “the role of gas-fired electricity generation” in grid stability, provided that “the activity is associated with life-cycle greenhouse gas emissions that are lower than 820 kgCO2e per kW of net installed capacity per year.”
“A gas-fired power plant used specifically for maintaining the reliability of electricity supply by contributing to grid stability can be assumed to operate 2,000 hours per year or less,” says the draft text.

This would enable gas plants which operate for less than 2,000 hours a year to fit into a “transition” category in the sustainable finance taxonomy because they would “guarantee the reliability of electricity supply” until their operating hours eventually fall down to zero by 2050.

As a general rule, the European Commission never comments on leaked documents.

Continued here.

Comments
  1. oldbrew says:

    Burning trees on an industrial scale seems to be on the German energy menu…

    Plans for burning Namibian wood in German power plants denounced

    Burning wood releases even more CO2 upfront per unit of energy than burning coal. Meantime, Namibia would lose a carbon sink that is of vital importance for climate protection. One of the main reasons cited for cutting down bushes and trees is that this would allow for an intensification of cattle ranching; this, however, brings further negative impacts for the climate and for biodiversity. Moreover, there are risks of severe ecological harm caused by large-scale industrial bush and tree removal.

    https://www.robinwood.de/pressemitteilungen/plans-burning-namibian-wood-german-power-plants-denounced

  2. Johna says:

    It’s a conn with the sole aim of keeping industrial and political dominance using their personal gas supplies form their good friends they never tried to annihilate in Russia? The French would not know what to do if these climate clowns pulled the plug on nuclear. And the rest of the EC only do as their told by these two giants. Meanwhile we in Blighty believe we still rule the waves, well certainly Boris Johnston does and most if not all his muppets do too. As for CO2, can someone pin these clowns down on the BBC and lets settle this with our own experts who can tell the public its is SUN and its variable heat output to Earth that controls our climate.

  3. Gamecock says:

    As a biologist, I condemn their abuse of the word ‘taxonomy.’

  4. Gamecock says:

    ‘This would enable gas plants which operate for less than 2,000 hours a year to fit into a “transition” category in the sustainable finance taxonomy because they would “guarantee the reliability of electricity supply” until their operating hours eventually fall down to zero by 2050.’

    Fantasyland.

    Who is going to build and operate a power station which they can only run 83* days a year, with a stated plan to make it zero?

    This is decadence writ large. They think they can f***over the people who keep them alive, and they’ll just keep doing it. When the power station business case goes away, the power station goes away.

    *I did the math for you.

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