Germany Plans $3.5 Billion Aid for EKF Energy Fund
Germany plans to use 2.59 billion euros ($3.5 billion) in federal money to save the EKF fund which is now suffering from low prices for carbon in Europe. The EKF, designed to be financed with proceeds from carbon-permit sales, has failed to reap sufficient income after prices for the allowances dropped to about 4 euros a metric ton this year. Germany now seeks to divert cash from the budget to the EKF from next year through 2017. The fund is part of Germany’s 550 billion-euro plan to wean the country off nuclear energy in favor of renewable energy.
U.K. to Increase Scottish island Wind Subsidy to Encourage Remote Development
The U.K. plans to pay wind farms on the Scottish Islands a higher subsidy to boost development of plants in remote areas that benefit from strong breezes. Developers on the islands will receive 115 pounds ($184) a megawatt-hour for power produced from 2017 while projects in the rest of the U.K. will only receive 95 pounds. The U.K. is seeking to get 30 percent of its electricity from renewable sources by 2020, up from about 12 percent now, and the islands could provide about 1.5 percent of generation in that year, the Department of Energy and Climate Change said.
Iranian Offer of Deal on Nuclear Weapons Program Met with Skepticism
Iran’s offer to arbitrate a deal on its suspected nuclear weapons program with the International Atomic Energy Agency, the five permanent United Nations Security Council members and Germany, is being met with doubts. While Iran says its nuclear work is for peaceful purposes, the U.S. and its allies says that Iran is secretly trying to develop nuclear weapons. UN nuclear inspectors are scheduled to meet with their Iranian counterparts on Sept. 27 for negotiations over gaining wider access to suspected Iranian nuclear facilities.
Industry Leaders Asks EU to Support 2030 Renewable Energy Target
Vestas Wind Systems, Alstom SA and 59 other companies sent a letter to the European Union asking the bloc’s policy makers to adopt a binding renewable energy target for 2030. The 28-nation EU needs a strong and ambitious climate and energy package for the decade after its current goals expire in 2020, according to the letter sent to the energy ministers. The commission has said the most cost-efficient way for the EU to attain its long-term goal to cut emissions by at least 80% in 2050 is to adopt a 40-percent target for 2030. Any decision on a new target will need to be approved by national governments and the European Parliament.