Europe adapts to its ‘green’ path

The European Union decided to change the color differentiation of energy resources, the reason for this was the crisis of 2021. Renewable energy sources (RTE), which have been relied upon in Europe in recent years, have not lived up to expectations, the countries of the Old World are facing energy shortages, which has led To a record hike in gas, coal and, as a consequence, electricity prices.

But this does not mean that Europe is abandoning its “green” path. It’s just that the European authorities adapt to the conditions, says Alexander Cordan, an expert at the Analytical Center of the Government of the Russian Federation.

“One should not think that we are talking about recognizing that gas and nuclear energy are ‘green’ – this recognition is accompanied by dangerous additional conditions: gas facilities will eventually have to abandon natural gas and switch to hydrogen and biogas, and stringent requirements to deal with waste,” he said. Alexander Cardin for Rossiyaskaya Gazeta.

According to him, these decisions give European energy greater flexibility and less dogmatism, because the “green” nature of the source should not be determined by name, but at least by carbon footprint, not to mention other environmental influences.

“So far, it is difficult to determine a direct impact on transboundary carbon regulation, since you still have to pay for carbon on export if emissions occur, and there will be no concessions to importers,” the expert stresses.

It is reported that Russia is the largest supplier of gas to Europe, occupying more than a third of the market, as well as being one of the main exporters of electricity to the Baltic states and Finland. Only gas exports in 2021 according to preliminary estimates brought 16 billion dollars to the budget of our country, but if gas supplies to Europe remained practically at the same level, then electricity exports increased 2.2 times compared to 2020, and amounted to 25 billion. kilowatt-hours. For 9 months of 2021, $804 million worth of electricity was exported, including power generated in nuclear and gas power plants.

Until 2021, Europe was seriously aiming for the complete abandonment of nuclear energy, despite the disagreement of some countries. Also in the European Union, the prospects for the gradual abandonment of gas as a raw material for electricity generation were discussed. From 2026, the European Union’s Transboundary Carbon Regulatory Mechanism, which affects the export of Russian goods, raw materials and electricity, should start working.
The final parameters of the mechanism are still under discussion, but the relaxation of the EU’s position on gas and nuclear power should reduce the risk of losses for Russian exporters. Previously, according to preliminary estimates, it could reach $7.6 billion annually.

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