EU energy policies and European refining update from the EC

Transcription

1 EU energy policies and European refining update from the EC Mechthild Wörsdörfer Head of Unit - Unit A.1 - Policy & Monitoring of electricity, gas, coal and oil markets European Commission, DG Platts European Refining Markets Brussels, 24th of September 2012

2 Outline Roadmap 2050 Refining Roundtable EU Emergency Oil stocks DG work programme

3 The Roadmap 2050 as a basis for developing a long-term policy framework (supported by scenario analyses) European Council Aim of the Roadmap.EU objective for 2050 GHG emissions down to 80-95% below 1990 levels.looks forward to elaboration of a lowcarbon 2050 strategy a framework for longer-term action in energy and related sectors.give more certainty to governments and investors.explore routes towards a low-carbon energy system by 2050 which improve competitiveness and security of supply.basis for developing the 2030 policy framework and concrete milestones with MS, EP and stakeholders 3

4 Roadmap 2050 savings throughout the system are crucial Gross energy consumption - range in current trend (REF/CPI) and decarbonisation scenarios (in Mtoe) Range for current trends scenarios Range regarding decarbonisation scenarios 4

5 Roadmap 2050 Renewables move centre stage but all fuels can contribute in the long-run 75% % % 50% % 25% 0% RES Gas Nuclear Oil Solid fuels 0% RES Gas Nuclear Oil Solid fuels 5

6 Roadmap 2050 Rethinking energy markets in Europe Interdependence and increasing shares of renewables More electricity More RES More trade Need for flexible resources. RES impact on wholesale market prices: spot prices could decrease due to zero marginal cost generation. Investors need to be able to recover capital and fixed operating costs. Market arrangements must offer cost-effective solutions, allowing all resources to be used (including demand side). Policy developments must remove barriers to market integration. 6

7 Roadmap 2050 The next step is to define the 2030 framework for energy The immediate priority is to implement the EU's 2020 Strategy 20 percent reduction of GHG emissions 20 percent share of renewable energy 20 percent energy savings The next step is to define the EU's 2030 framework for energy: On the basis of the Roadmap 2050 and the reactions to it Three no regrets options for the longer term strategy: Renewable Infrastructure Efficiency 7

8 Refining Roundtable Launched by Commissioner Oettinger in response to growing calls for EU level action Brought together representatives of all 21 Member States with an oil refining presence, MEPs as well as representatives of the EU refining industry and of trade unions Convened with a view to: Share views on the difficulties of the sector Share recommendations on a possible EU course of action Address growing calls for intervention which may contravene EU rules and/or could delay the sector's recovery.

9 Refining Roundtable Conclusions Broad agreement on challenges and shared concern on implications Widespread support for the types of measures: 1. That would ensure the realistic prospect of the restoration of competitiveness of the sector 2. That would not risk leading to further worsening of the situation (i.e: barriers to trade, intervention in restructuring) Setting up of a dedicated EU refining forum Focus on monitoring of: 1. EU's petroleum products security of supply situation 2. Current and future EU legislative proposals for potential negative impacts on the competitiveness of the EU refining sector 3. Combined impact of policies that affect the EU refining sector

10 Refining Roundtable Follow-up 1. High Level Conference on refining in the EU in Nov/Dec 2012 To focus on industry competitiveness Commission, EP, IEA, MS, consumer associations and industry 2. Fitness-check on refining Sectoral fitness check, in cooperation with DG ENTR Focus on combined impact and unintended consequences of legislation 3. Dedicated Refining Forum Ad-hoc, to meet from beginning of 2013 To debate on regulatory issues of the day & provide input on fitness check/ competitiveness proofing

11 Oil Market Update After a drop in June, oil prices continued to increase with Iran tensions Measured in euros, prices reached record level in March Iran sanctions (incl. import ban) fully effective from 1 July EU refiners fully replaced Iranian oil, helped by increasing OPEC production Global market can cope with the decreasing Iranian exports

12 EU Emergency Oil Stocks EU legislation requires Member States to hold oil stocks equivalent to minimum 90 days of consumption Parallel obligation on IEA Member countries Member States are free to choose their stockholding arrangements State-owned stocks, agency stocks, obligation imposed on companies Current stock levels: 135 million tons (about 1 billion barrels), equivalent to 122 days of consumption About half in crude oil and half in products New oil stock directive approved in 2009 To be transposed into national legislation by the end of 2012 Approximates the methodology to that of the IEA system Minimum 1/3 of the obligation is to be held in products Improves the availability of stocks

13 DG energy work programme Follow-up to Roadmap Renewable Communication 3. Adoption of Efficiency Directive 4. Regulation on energy infrastructures and Connecting Europe Facility 5. Regulation on safety of offshore activities 6. Internal Market Communication October Nuclear safety proposal 2012/ Communication on CCS 2012/2013

14 DG energy work programme Reflections on policy framework technologies Communication 3. Follow-up Internal Market Communication 4. Follow-up to stress tests - nuclear safety initiatives

15 Thank you