PODCAST: Decarbonized power sector offers opportunities for Europe chemicals resurgence

BARCELONA (ICIS)–Europe’s chemical industry stands to benefit in the long-term from the expansion of wind, solar and other low carbon methods of producing energy.

– Growth in renewables means spot electricity prices can turn negative if demand dips

– Europe electricity prices higher than pre-war as tied to price of natural gas, now mainly liquefied natural gas (LNG)

–  Europe sees significant growth in solar, while wind faces delays due to supply chain issues

– Decarbonizing includes reducing emissions from gas plants via carbon capture and storage (CCS) and other technologies

– Challenges include grid infrastructure to transport electricity across regions with varying renewable output

– Despite regulatory hurdles, there is political will for grid investment as part of the energy transition

In this Think Tank podcast, Will Beacham interviews ICIS power markets editor Andrea Battaglia, ICIS head of power analysis Matthew Jones, ICIS senior consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Read Paul Hodges and John Richardson’s ICIS blogs.