Switzerland to decide on nuclear power phaseout in favor of renewables

18/05/2017 16:00 Energy Market

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This Sunday, Switzerland will go to the polls and decide upon the government’s plan to abandon further development of nuclear power in favor of renewable energy. The focus of the campaign are the costs of the change. The current referendum follows October’s signature campaign organized by the Swiss People’s Party (SVP) who gave the support to contest the Government’s controversial energy plan in a popular vote.

Under the plan named “Energy Strategy 2015”, the centre-right government wishes to interdict the construction of new nuclear plants, while 5 existing ones, counting the oldest operating reactor in the world Beznau I, should be shut down at the end of their technically safe operating life.

 

Switzerland desires to significantly increase solar, wind, biomass, hydro and geothermal energy. But consumers will have to pay a surcharge on their electricity bills to fund the costs of about 480 million Swiss francs (439 million euros) a year.

 

Approx. 450 million francs would be earmarked from a current fossil fuels tax to reduce energy use in buildings by 43 % by 2035 compared with year 2000 levels.

 

At present, renewable resources are just under 5 % in Switzerland’s energy production, compared with 60 % for hydro and 35 percent for nuclear. The new law supposes a rise in the renewable energies from 2,831 GWh now to minimum 11,400 gigawatt hours (GWh) by 2035.

 

The opposition’s campaign against the plan has mainly concentrated on what clients and taxpayers will pay for the measures and if the 4 times increase in solar and wind power by 2035 would provide the nation with reliable and adequate supplies.

Centrica merges oil and gas businesses with Baverngas Norge

17/07/2017 16:43:00

The new company will be the result of the joining of British company Centrica’s exploration and production business with Norwegian Baverngas Norge.

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Panasonic and Toyota create first car with solar panel

17/07/2017 14:39:00

Panasonic Corporation has started producing 180-watt solar cells that can be installed on the roof of a car. The cells have been used to mass-produce the first car with a solar panel on its roof.

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Daily (17.07.2017): EU carbon prices increased by 1.1% on Friday

17/07/2017 10:36:00

Oil prices edged higher in rough trading on Friday, boosted by a report from the IEA that demand growth is accelerating and that oil stocks had fallen. The IEA raised its demand estimate for the Q2, while it reduced its figure for non-OPEC supply. Consequently, the oil market showed a vast deficit last quarter. Both, Brent crude and WTI prices rose by 1% to close at $48.91 a barrel and $46.54 a barrel respectively.

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