Polish coal will raise electricity prices across Europe

If it was not possible to accelerate the development of renewable energy sources in Europe, the prices of carbon dioxide emissions allowances would rise by 80%. Within a decade, which will also translate into an increase in electricity prices. EU countries will face larger increases if Poland implements its coal subsidy scheme. Unblocking investments in renewables will have the opposite effect – electricity prices will finally begin to fall. Those are the conclusions of the latest Aurora Energy Research report.

  • Aurora Energy Research, an organization founded by Oxford University economists, has analyzed the impact of different RES development speeds on the price of carbon dioxide.
  • The rapid development of renewable energy will stabilize and even reduce wholesale electricity prices in Europe by 2030 – in Germany they will fall by 14%, and in Poland by up to 26%. Compared to the first half of 2021
  • On the other hand, stagnation in green investments will increase prices: in Germany by 31 percent, and in Poland by 14 percent.
  • The prospect of Polish coal subsidies is no longer just a problem for Poles, it’s starting to weigh on electricity consumers across the European Union – experts alert
  • More such information can be found on the home page of Onet.pl

For the study, which was commissioned by the European Climate Foundation, Aurora developed a new model that simulates The development of the energy sector The industry is based on lower emissions budgets and other tools, such as subsidies for renewable energy sources or contracts for difference for carbon dioxide emissions. According to the authors Achieving the ambitious EU climate targets set out in the Fit for 55 package depends in large part on the emissions trading system.

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