Jean-Louis Poirier is a Senior Strategist at GF Energy, based in
Washington, D.C. and a member of World-Gen's Class of 2000. |
BY JEAN-LOUIS POIRIER, CLASS OF 2000
The crisis is a double whammy for the US power
sector: reduced economic activity means lower sales
and dropping commodity (oil, gas and coal) prices
mean lower wholesale power prices. You combine the
two and it spells lower revenues, decreased earnings
and reduced asset valuations for unregulated (i.e.,
merchant) assets. However, it is not just the crisis that
will have an impact on the US power sector but also
the new laws, polices and regulations that will be
enacted under the Obama administration. In addition,
states will make moves of their own, continuing a
trend that started in 2005 when it became clear that
the Federal government was not going to do much
during the second mandate of President Bush.
As a result, we foresee serious impacts for both
investor-owned utilities (IOUs) and independent
power producers (IPPs). Overall, IPPs will have a
much tougher time in the next 2-3 years but they are
used to it since they just went through a terrible period
in 2002-2005; those who survive know that they will
enjoy a stronger recovery later, especially if they
develop wind projects.
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Arthouros Zervos, EWEA president,
speaking at EWEC 2009. |
BY ARTHOUROS ZERVOS, EWEA PRESIDENT
MARSEILLE, FR - European companies have
two thirds of the 35 billion global market for wind
power technology. Wind energy is Europe’s contribution
to peace, progress and prosperity and we should
urgently develop, promote and export it to the best of
our ability.
EWEA has increased its 2020 target for installed
wind energy capacity in the EU from 180 GW to 230
GW, including 40 GW offshore. The agreement on
the EU Renewable Energy Directive in December
2008 and its mandatory 2020 renewables targets for
the Member States have increased our optimism for
the sector’s outlook. We have therefore increased our
targets. However, these targets will only be met if all
the Member States implement the directive swiftly
and effectively.
Previously, EWEA’s target was set at 180 GW of
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