IEEFA Energy Finance 2016: “It’s No Longer ‘Someday We’ll Have Renewables,’ It’s Here”

first_img FacebookTwitterLinkedInEmailPrint分享“Continuing declines in energy market prices will dramatically increase competitions from wind and solar, which means increased risk for coal-fired plans under capacity performance plans.”That’s David Schlissel of IEEFA at an Energy Finance 2016 session today explaining regional trends in electricity-generation markets nationally, noting how utility companies in West Virginia and Ohio are frantically seeking ratepayer bailouts for coal-fired plants that have becoming increasingly uncompetitive.Schlissel, director of resource planning analysis at IEEFA, said “energy market prices are going to be really low for a really long time, which is about the worst possible for coal plants.”The coal-industry takeaway: “Low energy market prices mean reduced revenues and lower profits … this has led and will continue to lead to coal plant retirements and reduced generation at those plants.”Schlissel noted the rise of renewables—wind in particular—in several U.S. electricity markets including PJM Interconnection, which serves all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia.“Gas, wind and solar are dramatically replacing coal in PJM,” he said. “More renewables are on the way. It’s no longer ‘someday we’ll have renewables,’ it’s here.”Schlissel also noted the dramatic rise of wind-powered generation by ERCOT, the Electricity Reliability Council of Texas, which serves most of that state.“Wind provided 18.4 percent of energy in ERCOT in November 2015 … that’s almost a fifth, pretty impressive,” he said, noting that ERCOT’s coverage map includes Austin, Dallas, Houston and San Antonio. “We’re not talking Montana. It’s a lot of cities.Schissel said also that solar is gaining ground in ERCOT, albeit at a slower pace than wind. IEEFA Energy Finance 2016: “It’s No Longer ‘Someday We’ll Have Renewables,’ It’s Here”last_img read more

Schroders targets DC default market with sustainable factor-based launch

first_imgSchroders has secured £350m (€400m) from a trio of UK defined contribution (DC) pension schemes to launch a factor investing fund with a sustainability tilt.The Sustainable Multi-Factor Equity (SMFE) fund uses a proprietary tool, named SustainEx, to process and analyse data related to company reports and financial performance as well as measures of social and environmental impact.The strategy assesses more then 9,000 companies based on quality, value, momentum, volatility and sustainability factors. It also aims to reduce its carbon footprint by 50% relative to its performance benchmark, the MSCI All Country World index.Companies in sectors such as tobacco, gambling and weapons manufacturing were excluded, but the company emphasised that exclusion and divestment were not a primary feature of the strategy. Ashley Lester, head of multi-asset research and systematic investments at Schroders, said the SustainEx system allowed the asset manager to illustrate the financial impact of its investments. Based on a backtest of the strategy from January 2010 to June 2018, Schroders estimated that its new fund would generate approximately £2.50 of net external societal benefits for every £100 of company sales, through supporting companies paying fair wages and not avoiding taxes, for example.“SMFE combines a scientific approach to ESG measurement with an equally scientific approach to factor investing,” Lester said. “We aim to put the best thinking in both ESG and factor investing to work for our investors, both now and through a measured but continuous process of improvement in the future.”Lester said that the fund rebalanced every month to take full advantage of different factors. Schroders would continue to add data points to the SustainEx framework to develop the process, he added.The UK version of the fund has an estimated ongoing charges figure of 0.24%, keeping it within the country’s auto-enrolment DC charge cap of 0.75%. A global version of the strategy is slated for launch in December.Major UK DC funds including NEST and HSBC have adopted default strategies with sustainable investing tilts in recent years.last_img read more

Hundreds of pro-LNG tweets go to Ottawa

first_imgFORT ST. JOHN, B.C. — FSJ for LNG was at the Fort St. John Trade Show this past weekend, and out of it, they got almost 1,000 photos of residents standing for LNG development to send to Ottawa.FSJ for LNG’s twitter feed is now flooded with 965 photos that were taken of residents on the weekend, and subsequently tweeted to Prime Minister Justin Trudeau, and the federal Minister of Environment and Climate Change Catherine McKenna.“Northern BCs economy and jobs are at stake Say YES 2 #LNGinBC,” the tweets state.Northern BCs economy and jobs are at stake Say YES 2 #LNGinBC @ec_minister @JustinTrudeau @Canadianpm @cathmckenna— FSJ for LNG (@FSJforLNG) April 10, 2016- Advertisement -Northern BCs economy and jobs are at stake Say YES 2 #LNGinBC @ec_minister @JustinTrudeau @Canadianpm @cathmckenna — FSJ for LNG (@FSJforLNG) April 10, 2016Alan Yu with FSJ for LNG said the idea originally came from one of his meetings with Mayor of Fort St. John Lori Ackerman in the past.While the Prime Minister and a federal cabinet minister are both bound to have tons of social media notifications day in and day out, Yu said he’s confident they will see their message from the northeast.FSJ for LNG also took the initiative to send letters to the Prime Minister and cabinet members, in support of the LNG industry every day until June 15. Yu said the process will start next week.Advertisement Another photo booth session, by Kristi Leer of Fort Nelson, will be taking place at the Fort Nelson and District Trade Show, which takes place on the last weekend of the month.last_img read more