A Montel News investigation has aired claims of insider trading in Germany’s power market. Signals received by some to help balance the grid are allegedly being used to front-run prices for same-day delivery. We’ve spoken to traders who claim this is an open secret worth millions of euros. Listen to a discussion with the reporter who broke the story.

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guest: Nathan Witkop, Editor Clean Energy Desk, Montel

The guarantees of origin (GO) market is complex and opaque. Listen to a discussion that unpicks the complexity, simplifies the jargon and lays bare the controversies in the market. With big tech looking to source more and more green energy, how can the market – projected to be worth EUR 4bn by 2030 – increase its credibility and boost liquidity? And why has Norway ruled out an exit from the GO market?

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guest: Daniel Arnesson, Manager, Renewable Power Analysis, Veyt

What a difference a couple of years makes. As France returns to a position of net power exporter, it appears to have moved on from the supply woes of 2022. But booming solar generation, a plethora of negative prices in France and its neighbours have weighed on wholesale electricity prices and raised doubts about the financing of new nuclear plants and renewables. Listen to a discussion on the flexible operation of nuclear plants in combination with solar and wind generation. Could France be heading for a glut of power production?

Host: Snjólfur Richard Sverrisson, Editor-in-Chief, Montel

Guests:

Yves Le Thieis, Vice President, Compass Lexecon
Paolo Coghe, CEO, Acousmatics

Concerns over energy supply for the coming months are mounting as gas flows from Russia to Germany through the vital Nord Stream 1 pipeline have dwindled to 20% of capacity. Market participants fear that deliveries could be cut completely, due to an ongoing spat between the two countries over the turbine necessary to pump the gas. Listen to a discussion with a Ukraine-based expert on the likelihood of a full cut to flows and the potential implications for European industry and households.

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guests: Yuriy Onyshkiv, Senior Gas Analyst, London Stock Exchange Group (LSEG)

In the last episode before a summer break, we round up the past six months and delve into the key drivers for the remainder of the year. Gas will continue to be the pressing issue, with a squeeze on supply likely to remain the single most important issue for 2022 and 2023. Listen to a discussion on why Nordic firms will be praying for rain and the urgency to solve permitting bottlenecks for green energy across Europe. And much, much, more.

Host: Richard Sverrisson, Editor-in-Chief, Montel

Guests: 
Olav Vilnes, Editor Nordics, Montel
Andres Cala, LNG Correspondent, Montel
Tasmin Chowdhary, Environmental Markets Reporter, Montel

Can we expect a total reduction in gas flows to Europe over the coming weeks? Will the Nord Stream 1 pipeline stay offline after annual maintenance in July? These are the key issues facing countries across Europe in the week to come, as a trickle in gas deliveries could deepen the continent’s energy, possibly causing prices to spike still further. Listen to discussion on the outlook for the coming winter and the options available for market participants and policy makers. 

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guest: Wayne Bryan, Director European Gas Research, LSEG

The war in Ukraine continues wreaking death and destruction, with hopes of a lasting ceasefire looking unlikely. The conflict also continues to cast a shadow on Europe’s energy market as the bloc looks to wean off its dependency on Russian gas. Listen to a discussion on whether Moscow’s new game plan could be to saturate the market with a view to price out alternative supplies, particularly from the US.

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guest: Henning Gloystein, Director, Energy, Climate and Resources, Eurasia Group

The European Commission’s recent RepowerEU package seeks to hastily end the continent’s dependency on Russian gas as well as accelerate the expansion of renewables and green gases. Listen to a discussion on the long, expensive road ahead, and why not everyone welcomes plans to boost the region’s gas infrastructure. Will the new measures ease the permitting logjam for green energy or could a more targeted approach work better?

 Host: Richard Sverrisson, Editor-in-Chief, Montel
 Guests: Ilaria Conti, Head of Gas, Florence School of Regulation
 Dries Acke. Director, Solar Power Europe

In a tale of two regions, southern Norway will continue to experience very high wholesale prices while they will be much lower in northern parts of the country and Sweden, for a long while yet. Listen to a discussion on the market outlook in the Nordics amid the wider energy crisis, Finland’s power squeeze, and why companies are deserting the forward market. In addition, what’s the likelihood of a supply crunch in the coming winter?

Host: Richard Sverrisson, Editor-in-Chief, Montel 

Guests: 
Sigbjørn Seland, Chief Analyst, Storm Geo
Marius Holm Rennesund, Partner, Thema Consulting

Russia’s turning off the gas taps to Poland – along with Bulgaria and more recently Finland – has created an opportunity for one of Europe’s biggest producers of fossil fuels to switch to more renewables like wind and solar. Listen to a discussion on how Russia’s war in Ukraine has spurred Warsaw to speed up its green transition, even if it means a brief pick-up in coal-burn to keep the lights on.  

Host: Richard Sverrisson, Editor-in-Chief, Montel 
Guest: Joanna Mackowiak-Pandera, President of Energy Forum.

This week French president Emmanuel Macron announced a new prime minister – with other key energy portfolios still to be put in place. The latest pod discusses corrosion at several of the country’s nuclear plants, expected output over the crucial winter period and the expansion of solar power. We also examine whether Macron’s plan to build up to 14 new reactors is realistic without a restructuring of EDF.

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guest: Emeric de Vigan, CEO and Founder Core-E

European carbon prices have been sidelined by the debate around sanctions on gas, coal, and oil from Russia. However, EUA prices have seen huge volatility, with price swings of up to EUR 8 a day. Listen to a discussion on the price drivers over the short and medium-term,  and why EUR 100/t would be unsustainable. In addition, what is the likelihood of excluding financial entities, or speculators from the market?

Host: Richard Sverrisson, Editor-in-Chief, Montel 

Ingvild Sørhus, Lead EU Carbon Analyst, Refinitiv
Marcus Ferdinand, Head of Analysis, Greenfact
Bernadett Papp, Head of Research and Analysis, Vertis

Russia’s halt in gas supplies to Poland and Bulgaria for their refusal to pay in rubles has the energy market guessing who might be next. It is still unclear whether customers agreeing to the Kremlin’s new terms is a breach in EU sanctions, even without an outright embargo on gas imports. Listen to a discussion on the apparent weaponization of gas, and what a further stop in Russian flows could do to European industry and wholesale prices.

Host: Richard Sverrisson, Editor-in-Chief, Montel 
Guest: Trevor Sikorski, Head of Natural Gas and Carbon Research, Energy Aspects

Europe is the frontrunner in the global renewables boom, as wind and solar have become the fastest growing electricity sources in history. Listen to a discussion on why the massive growth in capacity is set to continue this year, while coal and gas generation set to fall further. However, there are headwinds. Curtailments and public acceptance are obstacles that the industry and policy makers need to address, while negative prices may be a concern to some they should provide incentives for innovation in storage and flexibility.

 
Host: Snjólfur Richard Sverrisson, Editor-in-Chief, Montel
Guest: Dave Jones, Global Insights Director at Ember.

Italy lags behind many countries in harnessing its renewables potential, with the country’s energy transition hampered by cumbersome permitting rules. While that could be about to change due to government reform, other interventions such as taxes on green generators’ windfall profits may scare off investors. Listen to a discussion on the outlook for renewable energy in the country amid a scramble to replace Russian gas.

Host: Richard Sverrisson, Editor-in-Chief, Montel
Guests: Stefano Cavriani, Co-Founder & Director of Ego Energy, 
and Riccardo Rossi, Head of Southern and 
Central Europe Origination, Centrica Energy Trading

In early April the UK announced ambitious plans to wean itself off non-domestic energy sources. Are plans to install 17 GW of nuclear capacity over the coming decades realistic? Who will build a new fleet of reactors, and more importantly, where will the cash come from? Listen to a discussion about why the government’s policy will fail to fix an energy crisis that threatens to plunge huge swathes of the country into energy poverty.

 Host: Richard Sverrisson, Editor-in-Chief, Montel
 Guest: Antony Froggatt, Senior Research Fellow, Chatham House

Russia is trying to force companies to pay for its gas in rubles, while the EU has still not decided to implement full energy sanctions amid opposition from some member states. Listen to a discussion on the legal issues for European firms surrounding Russia’s invasion of Ukraine, and the implications of a cut from either side. We also look at the current status of Nord Stream 2 and potential loopholes in the regulatory framework. 

Host: Richard Sverrisson, Editor-in-Chief, Montel
 Guest: Ana Stanic, Principal, E&A Law

The EU is considering energy sanctions on Russia amid reports of atrocities in its ongoing war in Ukraine but many countries fear the consequences of such measures on the economies of the 27-nation bloc. These potential measures comeo against the backdrop of Russian president Vladimir Putin’s posturing. Is Moscow’s short-term to aim to starve Europe of energy? And could oil and gas prices spike further in the weeks and months ahead?

Host: Richard Sverrisson, Editor-in-Chief, Montel
 Guests: Bjarne Schieldrop, Chief Analyst, Commodities, SEB and Nadia Martin Wiggen, Partner and Chief Oil Analyst, Pareto Securities. 

Russia’s invasion of Ukraine and ensuing Western sanctions have roiled European energy markets. EU nations are scrambling to find alternatives to Russian supplies, while Moscow is demanding payments be made in rubles. Who will win this energy conflict?

Listen to an update on the EU’s strategy to wean off its dependency on Russia.

Guest: 

• Siobhan Hall, Brussels Correspondent, Montel

This week we focus on how Norway and Germany are coping with the energy crisis exacerbated by Russia’s invasion of Ukraine. While Oslo is subsidising household energy use, Berlin is reaching far and wide for alternatives to Russian gas.

Listen to a discussion about their tough challenges and why they might succeed.

Guests: 

• Andreas Lochner, Editor Germany, Montel, 
• Gert Ove Mollestad, Editor Norway, Montel

Many energy firms have been rapidly cutting ties with Russia following its invasion of Ukraine. This week’s episode focuses on the deep ties French oil and gas major has with Moscow, its feud with the US and why a “Rexit” may be very difficult and very costly, for the company.

We also touch on the financial challenges facing EDF and the role of energy in France’s upcoming presidential election.

Guests: 

• Chris Eales, Editor France
• Muriel Boselli, Correspondent France

Carbon market participants should brace themselves for more price volatility in the week to come - have we reached the bottom at EUR 55/t, or could prices climb to EUR 100/t?

Listen to a discussion on the key drivers going forward, and whether compliance buying could offset selling by speculative and industrial companies. 

Guests: 

• Ingvild Sorhus, Lead EU Carbon Analyst, Refinitiv
• Bernadett Papp, Analyst, Vertis Environmental Finance

The energy crisis that has engulfed Europe for months is set to continue well into 2023 amid the ongoing war in Ukraine and the concerns over gas and coal supplies from Russia. Will either side cut gas flows, or can Europe source alternative fossil fuels?

Listen to a discussion on the hard choices facing Europe going forward and the outlook for wholesale prices. 

Guests: 

• Wayne Bryan, Director, European Gas Research, London Stock Exchange Group (LSEG)
• Laurence Walker, Editor Montel

As Russian troops pour into Ukraine, we recorded a special episode looking into the implications for Europe’s wholesale energy markets. As we go to press, piped gas continues to flow from Russia, but what are the chances of a supply curtailment? Europe needs to find alternatives and make some hard decisions, in what our guest calls a “merit order of torture”.

Guest: 

• Georg Zachmann, Senior Fellow, Bruegel

European carbon prices have rebounded from two-year lows in February to trade around EUR 70/t. One of the main drivers for the CO2 market has so far been gas. Listen to a discussion with Ingvild Sorhus from Veytabout the other drivers influencing prices and why a return to EUR 100/t is possible as a shortage looms from 2026.

Host: Snjólfur Richard Sverrisson, Editor-in-Chief, Montel
Guest: Ingvild Sørhus, Lead Carbon Analyst, Veyt 

The prices of European guarantees of origin have soared in recent weeks amid robust demand, strong commodity markets and low hydro levels in the Nordic region.

Listen to a discussion on the outlook for GO prices amid increasing interest from corporates, as well as forecasts for carbon prices amid ongoing policy and regulatory reforms.

• Marcus Ferdinand, Head of Analysis, Greenfact

Hardly a week goes past without a company announcing ambitious plans to produce green hydrogen. But are these projects realistic?

Listen to a discussion on the folly of using hydrogen as a fuel in the transport, heating and power generation sectors and the sectors where H2 has an important role. Is hydrogen a panacea for the green transition, or a vehicle for greenwashing?

Guests: 

• Paul Martin, Spitfire Research Consulting
• Jan Cihlar, Managing Consultant, Guidehouse

After we recorded this episode, French President Macron announced plans to build up to 14 reactors by 2050. But earlier in the week, EDF announced that it would cut its available 2022 nuclear output by about 5% to between 295 and 315 TWh, a record low.

Listen to a discussion on the latest corrosion problems at the country’s nuclear plants and what they could mean for supply security and prices across north-west Europe. Is building more reactors the answer, and are such plans economically viable?

Guests:

• Chris Eales, Editor France, Montel
• Paolo Coghe, CEO, Acousmatics

Continued tension between Ukraine and Russia has supported European wholesale prices, which remain at historically high levels.

This week’s pod delves into the potential consequences of an armed conflict for gas supply to Europe, the impact on prices and market ignorance of some key policymakers. Will Russia cut gas flows and are alternative supplies available elsewhere?

Guests: 

• Jonathan Stern, Distinguished Research Fellow, Oxford Institute for Energy Studies
• Carlos Torres Diaz, Director Power and Gas Market Research, Rystad Energy

The consequences of energy price spikes and massive wholesale market volatility have not only hit the pockets of households and the balance sheets of industrial firms, but have also slowed the pace of deals for power purchase agreements (PPAs). Will the energy crisis and the threat of regulatory intervention cause the expansion of renewables to wobble?

Listen to a discussion on the key deals (and dealmakers) of 2021 and the outlook for this year.

Guest: 

• Luca Pedretti, COO and Co-Founder of Pexapark

To get more insights from Luca, you can join this Pexapark webinar: link

The Nordic region has not escaped the unprecedented energy price levels seen elsewhere, but according to this week’s guests, remains competitive compared to other parts of Europe and the world.

Listen to a discussion on the outlook for electricity prices and the market consequences of the crisis. Could the region see the introduction of price caps and export limitations?

Guests: 

• Sigbjørn Seland, Chief Analyst, Storm Geo
• Mia Bodin, Head of Analysis, Bodecker Partners

European wholesale gas prices have softened in recent days on forecasts of mild weather and the prospects of LNG imports but they are set to remain at historic highs for many weeks to come.

This week’s pod discusses the crucial question of Russian gas supply, LNG shipments in the first quarter and Asian demand. When will the energy crisis ease?

Guest: 

• Trevor Sikorski, Head of Natural Gas, Oil and Carbon Research, Energy Aspects

Some German energy retailers went under last year, but many more could follow suit in 2022 as the consequences of soaring prices and poor hedging strategies become clear.

Listen to a discussion about whether the existing marginal pricing model is fit for purpose, particularly as renewable energy capacity ramps up and nuclear and coal are phased out. Plus, how will the new German government cope with a potential supply crunch.

Guest:

• Tobias Federico, Managing Director, Energy Brainpool

Carbon prices have tripled, gas markets have soared, Europe is burning through its coal stocks but at the same time the demand for green energy procurement has never been higher.

Listen to a review of 2021 in carbon, environmental markets as well as in coal and gas and the key drivers for next year. Will all eyes be on the EC’s Fit-for-55 package or will the focus return to speculators in the EU ETS?

Guests:

• Alessandro Vitelli, Freelance Carbon Reporter
• Laurence Walker, Coal and Gas Editor, Montel
• Rachael Burnett, Environmental Markets Reporter, Montel

The collapse of dozens of UK energy retailers amid a spike in wholesale prices suggests too many were operating with just enough money to cover their expenses. Or does it reflect a failure of market design or of government policy?

Listen to this week’s discussion about energy zombie firms and how to fix the UK’s energy market.

Guest: 

• Emma Pinchbeck, CEO, Energy UK

The global gas market faces turmoil and increased price volatility should Donald Trump return to the white house. Listen to a discussion why a Trump victory in November will be “like dropping a hand grenade on the energy markets”, the implications of Russia’s attacks on Ukrainian gas infrastructure and Putin’s shadow fleet of LNG vessels. And will Iran close the Strait of Hormuz?

Host: Snjólfur Richard Sverrisson, Editor-in-Chief, Montel

Guests: Tobias Federico, Director, Montel Analytics; Wayne Bryan, Director European Gas Research, LSEG.

This week’s pod discusses the contested Nord Stream 2 pipeline following the temporary suspension of certification by the German regulator.

Listen to a discussion on the latest developments regarding Gazprom’s attempts to gain approval and the bureaucratic, legal as well as geopolitical obstacles that stand in its way. When can we expect Russian gas to start flowing into Germany?

Guest: 

• Ana Stanic, Principal, E&A Law

This week we return to the European carbon market, where prices have soared following plans by the new German government to introduce a CO2 price floor. Listen to a discussion on the key market drivers and the outlook for the coming months. Could prices hit EUR 100/t by the end of the year or are they more likely to correct down?

Guest: 

• Ingvild Sorhus, Lead EU Carbon Analyst, Refinitiv

This week our attention turns to COP26 that ended last weekend in Glasgow. Was there a gulf between the technical jargon used by the conference participants and wider the global climate crisis affecting many parts of the world?

Listen to a discussion on the agreement reached and the implications for carbon markets. How far away are we from a global carbon price?

Guests:

• Lambert Schneider, Research Coordinator for International Climate Policy at Germany’s Institute for Applied Ecology
• Andrei Marcu, Executive Director of the European Roundtable on Climate Change and Sustainable Transition.

This week we focus on Europe’s Guarantee of Origin (GO) market and discuss Norway’s plans to exit the system. What form could such a GO Nexit take and how will the country be able to attract new industry wishing to source green electricity?

Listen to a discussion on the Norwegian proposal, current market dynamics and how many EU GOs the UK will import this year and next in the wake of its departure from the EU.

Guest: 

• Adam White, Secretary General, RECS International

This week we speak to a regulator, a first for the pod, about how the French watchdog has dealt with the country’s energy crisis. Will more French suppliers go under, and what, if anything can be done to shield industry from very high prices?

Listen to a discussion on whether the current market design is fit for purpose, and what the CRE is doing to combat market abuse.

Guest: 

• Dominique Jamme, Managing Director, CRE

Spanish measures to reform energy markets and the EU ETS are an attempt to shield households and industry from high prices, but the intervention may scare away investment and slow the growth of PPAs.

Listen to a discussion on the reforms Madrid plans for energy markets, domestic and international reactions and what the tinkering may achieve.

Guests: 

• Pedro Linares, Professor, Universidad Pontificia Comillas
• Javier Revuelta, Senior Principal, Afry

Poland may be one of the last bastions of coal in Europe but exponential growth in solar capacity has propelled it to a top five ranking on the continent.

Listen to a discussion on the outlook for renewables, and how the country plans to cope with a shortfall in capacity from 2025.

Guest: 

• Pawel Czyzak, Head of Energy and Climate, Instrat.

Germany’s coalition partners have moved beyond speed dating and are now starting to thrash out the details of an agreement to form a new government.

Listen to a discussion on Germany’s path to decarbonisation and why the country needs to roll out more renewables at a faster rate – especially given the current global energy crisis and soaring fossil fuel prices.

Guest: 

• Claudia Kemfert, Head of Department Energy, Transportation and Environment,  German Institute for Economic Research

UK and continental European gas prices plunged from record highs following comments by Vladimir Putin saying Russia was prepared to increase gas supply to Europe. Listen to a discussion on current price dynamics, calls for market intervention and black box trading.

Guest: 

• Wayne Bryan, Director, European Gas Research, Refinitiv

Europe’s energy-intensive sectors are already facing spiralling costs ahead of the winter demand season. In this week’s pod, listen to a discussion on the consequences of soaring wholesale electricity prices for the non-ferrous metals sector and why some firms are calling for market intervention. Also, hear a critical view of the guarantees of origin market.

Guests: 

• Alexander Arnesen, Head of Power Procurement, Elkem
• Nick Keramidas, EU and Regulatory Affairs Director, Mytilineos
• Cillian O’Donoghue, Energy and Climate Change Director, Eurometaux

EU regulatory agency Acer is taking on new tasks and challenges. Listen to a discussion on the complexities of supervising increasingly automated and interconnected markets, the expansion of the Remit framework, the regulatory body’s new investigatory powers and how it handles huge amounts of data.  In addition, what plans does Acer have to improve its brand recognition in parts of Europe where its role has been misunderstood?

Host: Snjólfur Richard Sverrisson, Editor-in-Chief, Montel
Guest: Christian Zinglersen, Director, Acer

We follow up Friday’s preview with a discussion of the results of Sunday’s elections in Germany and the role the Green party could play in shaping the country’s energy policy. Will the fiscally prudent FDP be able to strike a deal with the Greens over financing a green shift, and could a new government be in place by Christmas?

Guest: 

• Tobias Federico, Managing Director, Energy Brainpool

A few days before Germany goes to the polls, several government scenarios are still in play. Will the country see a traffic light, a Jamaica or a red-red-green coalition? And what could that mean for the country’s energy policy? Listen to a discussion on potential outcomes. 

Could there be a situation where Nord Stream 2 was stopped, along with a speedier coal exit and further green growth?

Guest: 

• Henning Gloystein, Director, Global Energy & Natural Resources, Eurasia Group

This week’s pod turns to Turkey. While the country’s phenomenal economic growth has slowed in recent years, it still has grand ambitions to lessen its dependence on imported fossil fuels by expanding renewables. Listen to a discussion on the challenges and opportunities ahead for Turkey’s energy sector.

Guest: 

• Nazli Naseh, Editor, Montel-Foreks