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#FORATOM underlines key role of nuclear in achieving ambitious climate targets

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FORATOM welcomes the European Commission’s proposal to increase its 2030 CO2 emission reduction target to at least 55%. This is essential if the EU is to achieve carbon neutrality by 2050.  The nuclear sector stands ready to play its part by providing a stable supply of low-carbon electricity, as well as other energy carriers (e.g. hydrogen).

In terms of decarbonizing the electricity sector, FORATOM has identified two challenges: ensuring security of supply and costs.

“It is clear that by supporting an energy mix which combines both nuclear power and variable renewables, the EU will have access to a low-carbon supply of electricity, 24/7,” said FORATOM Director General Yves Desbazeille. “Such a combination will contribute not only ensuring security of supply, but also keeping the costs of the transition to a minimum”.

According to the conclusions of an FTI-CL Energy Consulting study commissioned by FORATOM (Pathways to 2050: role of nuclear in a low-carbon Europe), Europe could save more than €440 billion between 2020 and 2050 by supporting a 25% share of nuclear in the 2050 electricity mix. Customers would save around €350bn in costs, with 90% of these savings occuring before 2035 thanks primarily to the life-time extension of existing nuclear reactors as well as the construction of new ones. Furthermore, around €90bn could also be saved in relation to the additional Transmission and Distribution grid costs needed to accommodate the new solar and wind capacity, if ever built, which would replace the lost nuclear capacity.

“It should be noted that the transition is not just about saving costs, it’s also about ensuring economic growth and jobs,” added Desbazeille. “Here nuclear plays an important role as it currently sustains more than 1 million jobs in the EU-27. By 2050, this figure could rise to 1.2 million”[1].

The European nuclear industry stands ready to play its part in helping the EU to decarbonise. To do this, EU policy must treat all technologies in the same way. As highlighted by several member states at the end of 2019, if they are to progress towards such ambitious targets then they must have the freedom to include low-carbon nuclear within their energy mix.

The European Atomic Forum (FORATOM) is the Brussels-based trade association for the nuclear energy industry in Europe. The membership of FORATOM is made up of 15 national nuclear associations and through these associations, FORATOM represents nearly 3,000 European companies working in the industry and supporting around 1,100,000 jobs.

[1] Deloitte Economic and Social Impact Report, 2019

Electricity interconnectivity

ElectroGasMalta has summed up its Delimar power plant project

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The Electrogas consortium recently held a press conference where it announced the results of an internal audit of its company. The company said it began an "extensive internal legal and forensic review" in 2019, following the appointment of three new Directors. The audit showed that there were no signs of corruption in the project to build a gas power plant in Delimar with the participation of Siemens Projects Ventures and SOCAR Trading.

According to Energogas, the audit did not reveal any signs of any violations at the stage of bidding, construction of the power plant and operating activities of Electrogas.

Electrogas also reported that a project worth more than 500 million euros for the construction of a new 210 MW power plant and an LNG regasification terminal was implemented by ElectroGas Malta, which includes SOCAR Trading. In partnership with Siemens and local investment company GEM, it won a public tender in Malta in 2013.

It is known that the management of Electrogas changed after the resignation of shareholder Jorgen fenek.
Fenech was part of the joint venture "jam holdings", which owns 33.34% of the power plant. SOCAR Trading and Siemens Projects Ventures hold 33.34 percent each.

In 2015, ElectroGas Malta signed a contract with SOCAR giving exclusive long-term rights to supply LNG to Malta for the power plant. The first batch of LNG was delivered to the island in January 2017, thus creating the conditions for Malta to completely abandon fuel oil as a source of electricity generation. As noted earlier by the Prime Minister of Malta, Joseph Muscat, this helped reduce electricity prices for the Maltese population by 25% and contributed to a 90% reduction in toxic emissions into the atmosphere.

ElectroGas Malta will also supply electricity and natural gas to the state-owned energy company Enemalta for 18 years. A project worth more than €500 million to build a new 210 MW power plant and an LNG regasification terminal in Malta with the participation of SOCAR Trading was launched in December 2014 and completed in January 2017.

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Arts

LUKOIL’S Oil Pavilion named world's best project for use of Virtual Reality

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LUKOIL became a winner of the international IPRA Golden World Awards in four categories for the restoration of the historical Oil Pavilion at Moscow’s VDNKh. It is the largest Russian multimedia exhibition dedicated to applied science, which presents oil industry to its visitors through interactive installations.

The Oil Pavilion was awarded the status of the best global project in Gaming and virtual reality, Business-to-business, Media relations and Sponsorship categories.

This is the second LUKOIL’s IPRA Golden World Awards win; the Company received two awards last year. LUKOIL’s campaign to promote the city of Kogalym (Yugra) as a tourist centre of the West Siberia received awards as the world’s best project in Travel and tourism and Community engagement categories.

IPRA Golden World Awards (GWA) is the world’s most influential global public relations and communications competition.

IPRA GWA, established in 1990, recognizes excellence in public relations practice worldwide, taking into account such criteria as creativity, complexity of realization, and unique character of the project. World’s greatest communications and marketing experts and leaders, including representatives of the various largest enterprises, form the GWA jury.

 

 

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Energy

#Innowatts to partner with #Shell for AI-powered demand forecasting

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Innowatts, a leading energy Software as a Service (SaaS) platform that helps electricity providers optimize and transform their businesses with artificial intelligence (AI) enabled forecasting and customer-centric data analytics, today announced its selection by Shell Energy Europe Limited to provide AI-powered demand forecasting solutions, serving Shell’s northern European portfolio.

As a major energy supplier and carbon emissions market participant, Shell Energy Europe will leverage Innowatts’ demand analytics and forecasting product modules to facilitate supply management and provide additional insights into its customers’ carbon footprints, to help them meet their sustainability goals. Innowatts’ platform combines customer-centric energy analytics with insights stemming from managing millions of meters around the world, to provide accurate bottom-up demand forecasts and dramatically improve power-purchase efficiency.

The service agreement is a key milestone as Innowatts continues to expand in Europe. Since launching its European operations in July 2019, Innowatts has worked with Shell Energy Europe and other major regional energy providers to optimize supply management costs, enhance network planning for different electrification scenarios, and provide personalized and value-added services to their end consumers.

“Europe is a priority for Innowatts. We are proud to have partnered with Shell Ventures since our Series A round,” said Innowatts Chief Technology Officer and European General Manager Dave Boundy. “Our AI-powered Saas platform can help accelerate the transition to clean energy use in an economically sustainable way, with data-driven intelligence that adapts to providers’ evolving energy needs.”

About Innowatts

Innowatts is a leading energy SaaS platform that utilizes best-in-class artificial intelligence to help electricity providers unlock grid edge opportunities, increase customer value, and accelerate the transition to sustainable energy solutions. The Innowatts platform leverages insights from more than 40 million meters, delivering real-time, customer-centric energy analytics with unprecedented accuracy. With clients and operations across the Americas, Europe and Asia, Innowatts is a global leader, enabling energy providers to become truly customer-focused and fully leverage the power of data to transform their businesses. For more information, click here.

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