The Jolt: Risky connections

Elevate your listening experience, try our app – iOS / Android

Introducing The Jolt, a new series from FORESIGHT Climate & Energy, which will keep you updated on all the essential energy transition stories

Listen to The Jolt in the FORESIGHT app. This requires a membership to FORESIGHT Climate & Energy. If you would like to know if your company/organisation is subscribed to FORESIGHT Climate & Energy, or if you would like a reminder of your login details, send an email to info@foresightdk.com.

Welcome to today’s episode of The Jolt by FORESIGHT Climate & Energy. In a world underpinned by climate and energy stories, it is sometimes hard to cut through the cacophony of noise and get to the news you need to hear.

This is where The Jolt comes in. Tune in on Mondays, Wednesdays and Fridays for bite-sized updates, expert analysis and a global view.

We kick off with a look at the major global climate and energy news stories.

Here are some of the main climate and energy stories making the news around the world:

• Spain could ban short-haul domestic flights after political parties agreed to look into scrapping routes that are served by a train link. The plan is part of a prospective coalition agreement. Details are still thin on the ground but depending on what criteria are used, it could affect the Madrid-Barcelona route, one of the busiest domestic services in Europe.
• Bulgaria has started construction on its third nuclear reactor using brand new technology provided by US firm Westinghouse. It is due online by 2033 and a fourth reactor is also planned. Greece has signalled interest in investing in the project in return for electricity imports.
• The United Kingdom’s government will decide later this year whether to allow the blending of hydrogen into existing gas networks. A consultation on the initiative closes today.
• Also in the UK, the Energy Act received royal assent is now law. The national electricity and gas regulator has been given a net-zero remit as a result. The act also establishes a carbon capture framework and includes a new scheme to boost sustainable aviation fuels. 
• Tanzania will receive $19 million from the UN and a top climate fund to pay for a new project aimed at restoring degraded ecosystems and improving conditions for refugees. The scheme will restore 260,000 hectares of forest and will benefit more than half a million people.
• The United States has appointed a climate denier as the new speaker of the house. Mike Johnson is a long-time ally of the fossil fuel industry and will be the most vocal sceptic of climate consensus to ever hold the office, according to The Hill. 
• And an EU inquest into Chinese state support for electric car manufacturers has kicked off with an initial probe into three e-carmakers. Despite shipping more EVs from China to Europe than anybody else, Tesla is not included in this first step.

• Undersea energy connectors are projects worth hundreds of millions, sometimes billions of euros. They are crucial for the prospects of the energy transition but are increasingly at risk from the effects of geopolitics.
• Last year, the Nord Stream pipelines in the Baltic Sea were sabotaged and an inquest into the culprits has still not publicly issued any conclusions. It prompted a massive rethink by Germany in particular, about where to source its energy.
• This month, a pipeline between Estonia and Finland, plus a telecoms cable between Estonia and Sweden were both severely damaged. Investigations are ongoing and deliberate sabotage has not yet been ruled out.
• This week, the CEO of Italian gas network operator SNAM announced that maritime patrols and other security measures had been stepped up in regard to its three connections with the Balkan Peninsula and North Africa. More details here.
• Research fellow Francesco Sassi, who is an expert in the geopolitics of energy markets, says that this reflects a new reality triggered by the Nord Stream incident and the ongoing war in Ukraine.

“How much are you willing to invest in infrastructure that is under constant security threat?”

• Sassi adds that these renewed geopolitical considerations will certainly play on the minds of companies and governments when investment decisions need to be made about new infrastructure projects.
• Military forces and alliances, including NATO, are already collaborating with energy companies to help secure critical infrastructure, so there is likely to be more of the same when it comes to existing pipes and cables.

Check out the latest episode of Watt Matters, which digs into how Poland’s recent election result will affect energy and climate thinking, and stay tuned for a new article on district heating.

Audio clip credits:

G-ZERO YouTube

White House YouTube

We want The Jolt to be as listener-driven as possible! Get in touch with us about what you like, what you don’t like and what you’d like to see in future episodes. All feedback is appreciated so don’t be shy.

Email us at thejolt@foresightdk.com

FORESIGHT LinkedIn / Twitter

Sam Morgan LinkedIn / Twitter