Decarbonization poses risks to Europe’s grid operators says Moody’s

IF THE climate (CO2) scam and subsequent insane fixes like “renewables” (unreliables) could be put into one paragraph, it would be this:

“The shift to renewables in Europe has thrown up different challenges for the region’s energy network operators, with the huge uptick in renewables-related investment into electricity networks posing execution risks, while the move to decarbonization casts doubt over the long-term use of natural gas and the networks that distribute it,” said Stefanie Voelz, vice-president Senior Credit Officer at Moody’s.”

I.e: “After we’ve finished polluting your mind with inane BS, we will admit fossil fuels (gas) are the only answer, for energy security, but they don’t sorta fit our pet CO2 catastrophe theory…”

FINISHED with this ball-tearer of a paragraph to drill home the fuel-poverty soaked reality of “unreliable” energy wind and solar….

“Moody’s says that affordability will remain a key focus for network operators, as cost pressures increase on consumers. It also finds that with investment requirements remaining high, leading to growth in companies’ asset base beyond 2020, pressure on customer bills will rise. “As renewable subsidies continue to weigh on bills, affordability concerns could lead to deferral of cost and investment recovery for networks, a credit negative,” said Voelz.”

NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

I do like contrasting headlines!

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http://www.powerengineeringint.com/articles/2017/06/renewables-to-grab-7-trillion-of-global-power-investment-says-bnef.html

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http://www.powerengineeringint.com/articles/2017/06/drax-mulls-coal-to-gas-instead-of-biomass-conversion.html

Bloomberg would of course like you to believe that “investment” is good. In fact much of it will be money wasted, as replacement for perfectly good existing power capacity.

Meanwhile, it takes the credit risk company, Moody’s, to inject a bit of realism:

image

Europe’s drive to decarbonize its energy “poses long-term risks to the region’s regulated electricity and gas network operators” according to a new report from credit and risk company Moody’s Investors Service.

And the study states that Europe’s continued transition to renewables, particularly wind and solar, is prompting new business models, developing technology and evolving regulation that could all “potentially undermine the credit quality over time” of those network operators.

“The shift to renewables in Europe has thrown up different challenges for the region’s energy network operators, with the huge uptick in renewables-related investment into electricity…

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