WEC Bulgarian Energy Day 18 th June 2010 Climate change policy beyond 2012

The WEC 3 A’s WEC: To promote the sustainable supply and use of energy for the greatest benefit of all Energy Accessibility Energy Availability Energy Acceptability The 3 As are influenced by by several issues. In recent WEC studies we highlighted Market design, Carbon trading, Vulnerability.

Main sectors in EU-27: Energy supply and transport

European share on global GHG-emissions

Comparison of the electricity generation

Key messages: GHG emissions are globally still rising Major contributor is the fossil fuel combustion, especially for electricity production. Technological solutions are present, but need time until they will contribute largely to a further GHG reduction Europe will be part of the solution mainly in terms of clean technology development. An effective combat against climate change needs a global solution. Europe can show the way and demonstrate efforts, but other important regions should move and establish their pathways.

Technology contributions

Scenario results for 2030

Power Sector Investments

Cost implications

Climate change has in the end to be solved by technology -There is a huge portfolio of technologies at demand and supply side that have the potential to reach deep cuts in GHG emissions; -Technology must be accompanied by life style changes; -All these technologies must be accessible without exclusion; -Electricity is the only energy vector that can be further decarbonised in the foreseeable future through a range of technologies and offers the prospect of low carbon road transport through the hybrid and electric vehicle and of contributing to low carbon heating through heat pump systems. -Technology diffusion will not come by itself, there is a need for a whole range of policy measures including education and information, providing a long term price signal for GHG emissions, efficiency standards, R&D, incentives and support schemes;

Conclusions and recommendations - We need a global price on CO2 emissions - We need more support for climate friendly technologies - Investments are key – longer horizons needed - Re-balancing necessary: Security of supply and Affordable energy

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