A wind and solar power boom since Europe’s energy crisis erupted has saved the continent at least €11 billion ($10.8bn) in gas costs, according to a new report.
Record wind and solar generation in 19 countries since the war in Ukraine broke out in February was a bright spot in Europe’s energy market.
Russia’s gas cuts, along with reduced nuclear power generation in France and droughts affecting hydropower plants, have squeezed Europe’s energy supplies going into winter.
But the European Union’s wind and solar generation rose by a record 13 per cent since last year, new figures show. Poland’s wind turbines led the way by producing 50 per cent more power.
“As we fight the current crisis, we are laying the foundations of a cleaner and more modern energy system which will serve us well in the years and decades to come,” EU energy commissioner Kadri Simson said on Tuesday.
Experts at think tanks Ember and E3G said the cleaner power prevented inflation from jumping even higher.
They calculated that Europe would have needed to import 70 billion cubic metres of extra gas without its wind farms and solar panels, costing €99bn in total.
The additional wind and solar capacity installed this year represented about €11bn of those savings, they said.
“Renewables are already protecting the EU against inflation,” their report said.
“In addition to the climate benefits, accelerating the deployment of cheap renewable energy will reduce Europe’s exposure to costly fossil fuels.”
Despite this progress, clean power generation has not always filtered through to lower electricity prices for customers.
The EU’s 27 countries last month agreed a windfall tax on companies making excess revenue from renewables, when their extra gas costs are minimal.
Plans are also being drawn up in Brussels to redesign the energy market to separate gas prices from electricity costs.
One of the most contentious proposals for this winter, a price cap on gas, will be debated by EU leaders at a Brussels summit on Thursday and Friday.
A first round of talks in Prague this month ended with no clear breakthrough. More than half of the EU’s members are demanding a cap, but others are concerned that exporters will not supply Europe at a lower price.
Norway, now the EU’s biggest gas supplier instead of Russia, said it would not recommend a pan-European price cap.
Deals have been signed between European countries and gas exporters further afield, including Qatar and the US, to boost supplies this winter.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
RESULTS
6.30pm Handicap (TB) $68,000 (Dirt) 1,200m
Winner Canvassed, Par Dobbs (jockey), Doug Watson (trainer)
7.05pm Meydan Cup – Listed Handicap (TB) $88,000 (Turf) 2,810m
Winner Dubai Future, Frankie Dettori, Saeed bin Suroor
7.40pm UAE 2000 Guineas – Group 3 (TB) $125,000 (D) 1,600m
Winner Mouheeb, Ryan Curatolo, Nicholas Bachalard
8.15pm Firebreak Stakes – Group 3 (TB) $130,000 (D) 1,600m
Winner Secret Ambition, Tadhg O’Shea, Satish Seemar
9.50pm Meydan Classic – Conditions (TB) $$50,000 (T) 1,400m
Winner Topper Bill, Richard Mullen, Satish Seemar
9.25pm Dubai Sprint – Listed Handicap (TB) $88,000 (T) 1,200m
Winner Man Of Promise, William Buick, Charlie Appleby
MO
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THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
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Global state-owned investor ranking by size
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UAE
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Read more about the coronavirus
Killing of Qassem Suleimani
The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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