Citizens are beginning to wonder why the price of electricity is skyrocketing while undergoing a transformation of the energy system
A fear is beginning to flow through the European Union that the energy crisis that is being experienced because of the skyrocketing price of gas could affect the advance of the green agenda and cause a anti-renewable movement. It is the warning of numerous experts who point out the danger that exists against a possible slowdown in investment in the sector.
A context that has already advanced Mariano Bacigalupo, counselor of the CNMC, in the conference ‘The future of the electricity sector after episodes of high prices in the electricity market and the consequent measures adopted by the Government’, organized by the Comillas ICAI Technological Research Institute and Enerclub just a month ago.
“Whatever the design of the European electricity market in the future should take into account the incipient manifestations that there begins to be a certain social disaffection with the energy transition or electrification“.
The expert points out that “there are already first symptoms in Europe. The debate is raised and it is true that there is a certain lack of comfort of the different technologies in the spot market, but it is a question that must be taken into account ”.
Europe wants to be the world leader in the fight against climate change. His ambitious emission reduction policies already put him in that position, after the US lost the race with the four years of the Trump Administration.
The European Commission has promised to achieve neutral zero emissions by 2050, with the new plan, ‘Fit for 55’, which increases the greenhouse gas emission reduction target by at least 55% from 1990 levels by the end of this decade.
However, these ambitions could be affected as the shortage of natural gas on the continent drives prices up and the rate of CO2 emitted by gas-fired power plants (and those that are left over from coal) also make the final product more expensive: light.
Other experts, such as Henning Gloystein, energy director of the consulting firm Eurasia Group, warns that the The risk to climate policies lies perhaps mainly in a loss of credibility ahead of the Glasgow Summit (UK) talks, COP26, which begins this week.
However, there is a bigger problem because some European leaders and legislators have blamed the EU for the energy price increases.
For example, the Polish Prime Minister Mateusz Morawiecki He said earlier this month that “Polish energy prices are linked to the EU’s climate policies.”
When experts are asked whether comments like this could harm the EU’s green ambitions, there is no question: “There is absolutely that risk because clearly the Polish government wants to extract more money from the EU for the green transition.”
It is too early to tell if the spike in energy prices in recent months will jeopardize the EU’s green ambitions. Of what there is no doubt is that The biggest risk is if citizens’ support for a greener economy falls because it is perceived to be affecting their pockets.
You will have to put all the meat on the grill to prevent that feeling from growing and even disappearing. The decarbonisation of the system, the commitment to renewables, should be a priority not only to fight against the threat of climate change but also so that Europe is self-sufficient, does not depend on third countries, and has cheap energy.