European energy rules are causing chaos in Norwegian politics. And now, Norwegian political turmoil will create disruption in the European energy market. Negative feedback loops come at a very bad time for Europe as continental energy security I’ll keep moving Three years after Russia’s invasion of Ukraine.
Over the past few years, Europe has been supercharged the renewable energy transition to increase energy independence and security. When Russia invaded Ukraine in February 2022, Europe was so dependent on the Kremlin that it turned on the lights and put the economy in operation. As of 2020Europe relied on Russian energy imports for 20% of the continent’s energy use. Additionally, more than half of natural gas and more than a third of oil consumed in Germany, Europe’s largest economy, came from Russia.
“The energy looked cheap, but it exposed us to a terrifying email,” said Ursula von der Leyen, president of the European Commission, who serves as the administrative division of the European Union, to be in charge of the World Economic Forum in January 2025. stated in.
While trying to ease Russian leverage on European politics and economics, EU countries are making major violations to achieve the European Union’s climate targets. It has increased significantly They crush their renewable energy capabilities, records for solar and wind deployment. But these markets may now grow too fast, and the European energy market is currently upset by radioactive fallout.
Relying on the variable energy of most of the block’s energy mix is great for the climate, but inappropriate it is dangerous to grid stability. Today, “German electric grids are more weather dependent than today.” Recent OP-ED For Bloomberg. “Without a sufficient baseload generation that runs 24/7 and without dispatchable plants that can be revitalized on demand, Berlin relies on imports from neighboring countries to create a dark, windless winter Fills the gap between them.”
This is in order Destroyed chaos About the nearby Norway energy market. As Norwegian energy flows into the German grid, Norwegian energy prices have risen far more for locals. Norway has inexpensive and abundant energy thanks to incredible hydropower resources. Locals are not very happy about sacrificeing cheap energy prices to maintain German lighting.
“We are increasingly feeling that Scandinavian countries are paying for the failed German energy policy.
This dissatisfaction led to serious destruction of the Norwegian government. Norway, not part of the EU, recently saw its allied government Collapse Under the weight that determines how to respond to EU energy measures. Norwegian Euroceptic Centre Party has withdrawn entirely from the Union government, leaving Norwegian Prime Minister Jonas Girlstrol to lead a minority government.
“The transmission of prices through the last two cables gives them a high and unstable price, preventing the EU from implementing effective measures to control electricity exports from Norway,” the Centre said. said party leader and finance minister Trygve Slagsvold Vedum. statement They call on Norway to “restore state control” of electricity prices.
The Norwegian government is currently Control mechanism Restrict exports. If Norway decides to limit or completely reduce energy flow to the European Union, it will be catastrophic for the bloc. Norway was the third largest energy exporter on the continent last year.
“If you’re looking forward to your gaze and looking forward to what’s going on in the North Sea, there’s a focus on renewable electricity from all countries,” Norwegian Prime Minister Jonas Garh said. “But every country has to sit down and consider their share of such possibilities, and no one will do anything that has no interest in them.”
It is inevitable that major energy shifts will result in conflicts and uncertainties like those unfolding in Europe. This is not necessarily a bad thing. This is part of the unprecedented, ultimately necessary learning process for transitions. Seeing how European leaders can resolve tensions, restructure regulations and advance energy transition ambitions will provide key learning and insights around the world as they continue their foray into the decarbonisation era .
By Haley Zalemba owrprice.com
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