Montel Weekly

Some German energy retailers went under last year, but many more could follow suit in 2022 as the consequences of soaring prices and poor hedging strategies become clear.Listen to a discussion about whether the existing marginal pricing model is fit for purpose, particularly as renewable energy capacity ramps up and nuclear and coal are phased out. Plus, how will the new German government cope with a potential supply crunch.Guest:Tobias Federico, Managing Director, Energy Brainpool

Carbon prices have tripled, gas markets have soared, Europe is burning through its coal stocks but at the same time the demand for green energy procurement has never been higher.Listen to a review of 2021 in carbon, environmental markets as well as in coal and gas and the key drivers for next year. Will all eyes be on the EC’s Fit-for-55 package or will the focus return to speculators in the EU ETS?Guests:Alessandro Vitelli, Freelance Carbon ReporterLaurence Walker, Coal and Gas Editor, MontelRachael Burnett, Environmental Markets Reporter, Montel

The collapse of dozens of UK energy retailers amid a spike in wholesale prices suggests too many were operating with just enough money to cover their expenses. Or does it reflect a failure of market design or of government policy?Listen to this week’s discussion about energy zombie firms and how to fix the UK’s energy market.Guest: Emma Pinchbeck, CEO, Energy UK

This week’s pod discusses the contested Nord Stream 2 pipeline following the temporary suspension of certification by the German regulator.Listen to a discussion on the latest developments regarding Gazprom’s attempts to gain approval and the bureaucratic, legal as well as geopolitical obstacles that stand in its way. When can we expect Russian gas to start flowing into Germany?Guest: Ana Stanic, Principal, E&A Law

This week we return to the European carbon market, where prices have soared following plans by the new German government to introduce a CO2 price floor. Listen to a discussion on the key market drivers and the outlook for the coming months. Could prices hit EUR 100/t by the end of the year or are they more likely to correct down?Guest: Ingvild Sorhus, Lead EU Carbon Analyst, Refinitiv

This week our attention turns to COP26 that ended last weekend in Glasgow. Was there a gulf between the technical jargon used by the conference participants and wider the global climate crisis affecting many parts of the world?Listen to a discussion on the agreement reached and the implications for carbon markets. How far away are we from a global carbon price?Guests:Lambert Schneider, Research Coordinator for International Climate Policy at Germany’s Institute for Applied EcologyAndrei Marcu, Executive Director of the European Roundtable on Climate Change and Sustainable Transition.

This week we focus on Europe’s Guarantee of Origin (GO) market and discuss Norway’s plans to exit the system. What form could such a GO Nexit take and how will the country be able to attract new industry wishing to source green electricity?Listen to a discussion on the Norwegian proposal, current market dynamics and how many EU GOs the UK will import this year and next in the wake of its departure from the EU.Guest: Adam White, Secretary General, RECS International

This week we speak to a regulator, a first for the pod, about how the French watchdog has dealt with the country’s energy crisis. Will more French suppliers go under, and what, if anything can be done to shield industry from very high prices?Listen to a discussion on whether the current market design is fit for purpose, and what the CRE is doing to combat market abuse.Guest: Dominique Jamme, Managing Director, CRE

Spanish measures to reform energy markets and the EU ETS are an attempt to shield households and industry from high prices, but the intervention may scare away investment and slow the growth of PPAs.Listen to a discussion on the reforms Madrid plans for energy markets, domestic and international reactions and what the tinkering may achieve.Guests: Pedro Linares, Professor, Universidad Pontificia ComillasJavier Revuelta, Senior Principal, Afry

Poland may be one of the last bastions of coal in Europe but exponential growth in solar capacity has propelled it to a top five ranking on the continent.Listen to a discussion on the outlook for renewables, and how the country plans to cope with a shortfall in capacity from 2025.Guest: Pawel Czyzak, Head of Energy and Climate, Instrat.

Germany’s coalition partners have moved beyond speed dating and are now starting to thrash out the details of an agreement to form a new government.Listen to a discussion on Germany’s path to decarbonisation and why the country needs to roll out more renewables at a faster rate – especially given the current global energy crisis and soaring fossil fuel prices.Guest: Claudia Kemfert, Head of Department Energy, Transportation and Environment,  German Institute for Economic Research

UK and continental European gas prices plunged from record highs following comments by Vladimir Putin saying Russia was prepared to increase gas supply to Europe. Listen to a discussion on current price dynamics, calls for market intervention and black box trading.Guest: Wayne Bryan, Director, European Gas Research, Refinitiv

Europe’s energy-intensive sectors are already facing spiralling costs ahead of the winter demand season. In this week’s pod, listen to a discussion on the consequences of soaring wholesale electricity prices for the non-ferrous metals sector and why some firms are calling for market intervention. Also, hear a critical view of the guarantees of origin market.Guests: Alexander Arnesen, Head of Power Procurement, ElkemNick Keramidas, EU and Regulatory Affairs Director, MytilineosCillian O’Donoghue, Energy and Climate Change Director, Eurometaux

We follow up Friday’s preview with a discussion of the results of Sunday’s elections in Germany and the role the Green party could play in shaping the country’s energy policy. Will the fiscally prudent FDP be able to strike a deal with the Greens over financing a green shift, and could a new government be in place by Christmas?Guest: Tobias Federico, Managing Director, Energy Brainpool

A few days before Germany goes to the polls, several government scenarios are still in play. Will the country see a traffic light, a Jamaica or a red-red-green coalition? And what could that mean for the country’s energy policy? Listen to a discussion on potential outcomes. Could there be a situation where Nord Stream 2 was stopped, along with a speedier coal exit and further green growth?Guest: Henning Gloystein, Director, Global Energy & Natural Resources, Eurasia Group

This week’s pod turns to Turkey. While the country’s phenomenal economic growth has slowed in recent years, it still has grand ambitions to lessen its dependence on imported fossil fuels by expanding renewables. Listen to a discussion on the challenges and opportunities ahead for Turkey’s energy sector.Guest: Nazli Naseh, Editor, Montel-Foreks

Norway’s election on Sunday and Monday could herald a change in the country’s climate policy, as current polls indicate growing support for calls to end oil and gas exploration. Listen to a discussion on the implications for Norway’s oil and gas sector, as well as what the Nordic country’s green transition could mean for others looking to wean themselves off fossil fuels.Guest: Stig Schjolset, Head of Policy, Zero

Despite calls for calm by the European Commission, carbon prices are continuing to break records, largely due to a soaring gas market and expectations of more stringent environmental legislation.Listen to a discussion outlining the reasons behind the extreme volatility, the key fundamentals and the outlook for the coming months. Guests:  • Ingvild Sorhus, Lead EU Carbon Analyst, Refinitiv • Bernadett Papp, Analyst, Vertis Environmental Finance

Nordic wholesale electricity prices have soared in recent months on a combination of low hydropower stocks, grid congestion, forecasts of dry weather and the start-up of the NSL cable linking Norway to the UK.Listen to a discussion on the reasons for the price surge, the outlook for the months ahead and the implications for the region’s heavy industry.Guests: Sigbjorn Seland, Chief Analyst, Storm GeoOle Lofsnaes, Nordic Energy Director, Alcoa

This week’s pod discusses the outlook for Europe’s gas market for the coming months, as the risk of higher prices is a concern amid doubts over supply, both from pipelines and LNG, robust demand and very low storage levels ahead of the winter.An additional factor could be Nord Stream 2, with prices plunging this week after operator Gazprom announced plans to start supplying Germany through the contested pipeline this year.Guest:James Waddell, Head of European Gas, Energy Aspects