LONDON, October 16, 2017 /PRNewswire/ --
ICIS has just published a comparison study of renewable energy subsidy schemes throughout Europe.
With this Market Insight Paper, ICIS explores the different paths that Germany, Poland and the UK have chosen on their way to achieving their renewable targets and a cost reduction for the installation of renewable technologies.
All three countries chose to support renewable generation with a market premium on top of the electricity wholesale price for non-micro generation. In order to fuel the transformation of their power sector towards more renewable capacity, Germany and the UK - and to a large extent also Poland - have launched technology-specific auctions.
"In Germany and the UK, the first auction results have shown a high degree of cost degression," said Marcus Ferdinand, Lead analyst EU Power & Carbon Analytics at ICIS. "This trend of decreasing prices for renewables shows the competitiveness of renewable sources, but puts forward challenges for project developers, suppliers and investors who will have to adapt quickly to the changing market environment."
The insight paper was written by our analysts and editors as part of a new online tool called Power Perspective, which brings together the policy and regulation framework of energy markets throughout Europe.
"Power Perspective is the missing link in energy markets; it allows the user to compare the fast-changing energy regulation and policy landscape almost in real time," said Philipp Ruf, Director - EU Power & Carbon Analytics at ICIS.
"Rich data sets combined with intelligent filter options allow the user to adapt the product to everyone's unique needs, acting as a powerful filtering option," he said.
Marcus Ferdinand said that changes to renewable policies are a main driver for long-term power price developments.
"Spanning all 28 EU power markets, Power Perspective is the first analytical tool that enables cross-border comparisons to spot investment opportunities, trends and trading opportunities," Ferdinand said.
Download the insight paper
Find out more about Power Perspective
Register for the free ICIS webinar: Germany's and Poland's electricity markets in transition on 19 October 2017 at 15:00 CEST / 14:00 BST
ICIS is the world's largest petrochemical market information provider, with divisions spanning energy and fertilizers. Our aim is to give companies in global commodities markets a competitive advantage by delivering valuable information and analytics tools which enable our customers to identify and react to opportunities in markets which are constantly evolving. We have more than 30 years' experience of providing pricing intelligence and news, forecast data, market analytics and independent consulting to buyers, sellers and analysts.
With a global staff of more than 600, ICIS has employees based in London, Houston, New York, Singapore, Dubai, Shanghai, Guangzhou, Beijing, Mumbai, Tokyo, Karlsruhe, and Milan. ICIS's team of journalists is engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.
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Reed Business Information provides information, analytics and data to business professionals worldwide. Our strong global products and services hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group, a world-leading provider of information and analytics for professional customers across industries. http://www.reedbusiness.com
About RELX Group
RELX Group is a world‐leading provider of information and analytics for professional and business customers across industries. The group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. The total market capitalisation is approximately £33.3bn|€37.5bn|$44.3bn. www.relx.com
Jamie Stewart, power markets editor, ICIS