The Future of Energy: International Updates - Spring 2023
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We are proud to share our quarterly newsletter on the key international Energy & Utilities legal developments relating to the global energy transition.
Brought to you by the international Energy & Utilities Sector Group at Bird & Bird
In Focus
On the path to net-zero: The EU Green Deal Industrial Plan
On 1 February 2022, the EU Commission published the Green Deal Industrial Plan (the “Plan”), which aims “to enhance the competitiveness of Europe’s net-zero industry and support the fast transition to climate neutrality”. Against the backdrop of the European Green Deal and REPowerEU, the Plan builds on previous initiatives and towards the commitments of 55% reduction of greenhouse emissions by 2030 and carbon neutrality by 2050. The Plan focusses on scaling up the EU’s net-zero manufacturing and improving the competitiveness of the EU market, especially in light of competition brought by the US Inflation Reduction Act. The Plan provides legislative proposals as a reference point for negotiations between Member States in the coming months.
Updates from our International Network
UK
The draft Electricity Generator Levy legislation: what has changed?
Days before the new Electricity Generator Levy (EGL) was due to come into effect, the UK government finally published draft legislation and a supplementary technical note.
For more information please contact Zoe Feller or Emily Patel.
Singapore
Singapore's National Hydrogen Strategy 2022
Singapore’s energy transformation and net zero commitments requires an imminent shift from natural gas to best-in class technology that can minimize CO2 emissions and mitigate climate change.
Singapore has formally launched its national hydrogen strategy on 25th October 2022 as the low-carbon fuel that could meet 50% of Singapore’s power needs by 2050.
For more information please contact Sandra Seah.
Hungary
Decrees and promises: a long-awaited loosening of strict restrictions?
2022 has been a challenging year for PV developers in Hungary, who quite often found themselves faced with unforeseen obstacles turning business plans upside down (see our report in the last issue). Luckily, the tide is changing and 2023 started with important legislative changes and a quiet promise of further amendments to the relief of the renewables market in Hungary.
For more information please contact Dániel Aranyi, Vivien Kovacs or István Szalay.
Sweden
Wind Power Expansion - Swedish Government Shifts Stance on Wind Power
As Sweden is set to phase out fossil fuels from industry, the topic of renewable versus nuclear grows in importance. Recent developments in the area have impacted the Swedish Government stance – from previously seeing nuclear energy as a priority and taking no steps to encourage wind, to actively encouraging the expansion of wind power.
For more information please contact Mattias Lindberg, Ariana Sohrabi or Hans Kalderen.
Germany
Price brake law established in Germany to address the effects of the energy crisis on the population
Since the beginning of the energy crisis, states are trying to cushion its effects on their populations. Extensive legislative projects affecting the energy sector have been implemented in order to achieve greater independence from Russian energy and gas supplies while keeping electricity affordable for the public. These legislative projects often require countries to invest immense sums in the energy sector and the social system.
For more information please contact Dr. Hermann Rothfuchs or Tatjana Beck.
