Book Description

The EU has embarked upon a fundamental change in the direction of its energy policy, with the agreement by the European Council of the 20-20-20 targets, all by 2020. The new legislative framework presently being finalized to put this in practice will have profound effects on all those active in the energy industry. Achieving a 20% share of renewables in the EU's energy mix will require massive investments and an increase by roughly ten times the level of wind and solar energy presently installed in Europe today. This all creates huge challenges and opportunities for EU businesses. A full understanding of support schemes, obligations, and planning requirements is vital for both the industry and its advisors. This volume provides a complete working guide to the new EU legislation. It includes: the economic, environmental, and energy security rationale underpinning the new proposals * national renewable targets, levels, and enforcements mechanism * the trading of renewable energy credits and guarantees of origin * biofuels: obligations, sustainability, and the Fuel Quality Directive * grid access rules/priority access in practice * the EU's electricity grid: how will it need to evolve to incorporate the new renewable electricity.