Montel Weekly
283 episodes - English - Latest episode: 17 days ago - ★★★★★ - 1 ratingMontel Weekly - market insights from people in the know. Montel Weekly is a podcast dedicated to energy news from markets in Europe and beyond. Every week we invite key industry experts to share insights and to discuss latest developments. Hosted by Richard Sverrisson. Produced by Bled Maliqi. Music by Laurence Walker and Ben Bower.
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Episodes
Russian flow roulette
June 24, 2022 08:00 - 25 minutes - 17.5 MBCan 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 Sve...
Gas cut or glut?
June 16, 2022 15:00 - 27 minutes - 18.8 MBThe 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, En...
REPowerEU: “Killing two birds with one stone?”
June 08, 2022 14:00 - 23 minutes - 16.1 MBThe 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: Ilari...
Nordic power squeeze
June 03, 2022 04:00 - 28 minutes - 19.3 MBIn 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...
Poland’s blessing in disguise
May 26, 2022 21:00 - 33 minutes - 22.7 MBRussia’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, Presiden...
Macron’s nuclear push
May 19, 2022 22:00 - 24 minutes - 16.9 MBThis 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 Foun...
Keeping out the CO2 speculators
May 12, 2022 22:00 - 45 minutes - 31.4 MBEuropean 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 Car...
Russia’s ruble stand-off
May 05, 2022 21:00 - 25 minutes - 17.2 MBRussia’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 ...
Policy meddling may curb Italy’s green boost
April 28, 2022 14:00 - 30 minutes - 20.7 MBItaly 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 Cavri...
UK fails to fix energy crisis
April 21, 2022 19:00 - 27 minutes - 19 MBIn 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: ...
UK fails to fix energy crisis
April 21, 2022 19:00 - 27 minutes - 19 MBIn 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: ...
Contractual uncertainties
April 13, 2022 09:00 - 27 minutes - 19.1 MBRussia 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: An...
Contractual uncertainties
April 13, 2022 09:00 - 27 minutes - 19.1 MBRussia 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: An...
Putin’s energy gambit
April 08, 2022 03:00 - 29 minutes - 20.3 MBThe 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:...
EU’s energy conflict
March 31, 2022 22:00 - 22 minutes - 15.3 MBRussia’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
Tackling the energy crisis
March 24, 2022 23:00 - 29 minutes - 20 MBThis 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
Total’s Russian tangle
March 17, 2022 23:00 - 24 minutes - 16.9 MBMany 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
Choppy times for carbon
March 10, 2022 23:00 - 22 minutes - 15.4 MBCarbon 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
No end in sight to energy crisis
March 03, 2022 23:00 - 28 minutes - 19.8 MBThe 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
Ukraine crisis: A merit order of torture?
February 24, 2022 23:00 - 18 minutes - 12.5 MBAs 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
GO bull run?
February 24, 2022 23:00 - 26 minutes - 18 MBThe 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
Bursting the hydrogen bubble
February 17, 2022 23:00 - 28 minutes - 19.6 MBHardly 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
No plan B for France
February 10, 2022 23:00 - 27 minutes - 18.8 MBAfter 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 vi...
Ukraine crisis stokes gas supply fears
February 03, 2022 23:00 - 24 minutes - 17.2 MBContinued 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, Direct...
Energy Transition wobble
January 27, 2022 23:00 - 23 minutes - 16.3 MBThe 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 ...
Energy Transition wobble
January 27, 2022 23:00 - 23 minutes - 16.3 MBThe 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 ...
Nordic energy crisis overblown?
January 20, 2022 23:00 - 26 minutes - 18.1 MBThe 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
The Russia question
January 13, 2022 23:00 - 26 minutes - 18 MBEuropean 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
Tip of the Eisberg
January 06, 2022 23:00 - 26 minutes - 18.1 MBSome 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
Will energy’s wild ride carry on?
December 16, 2021 23:00 - 31 minutes - 21.6 MBCarbon 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 Edit...
Zombies and market reform
December 09, 2021 23:00 - 25 minutes - 17.3 MBThe 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
Nord Stream 2 certification woes
December 02, 2021 23:00 - 28 minutes - 19.3 MBThis 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
CO2 soars on price floor plan
November 25, 2021 23:00 - 21 minutes - 14.6 MBThis 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
Global CO2 markets after COP26
November 18, 2021 23:00 - 23 minutes - 15.9 MBThis 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 And...
Norway’s proposed GO exit
November 11, 2021 23:00 - 26 minutes - 18.5 MBThis 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
Regulating the energy crisis
November 04, 2021 23:00 - 22 minutes - 15.5 MBThis 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
The Spanish intervention
October 28, 2021 22:00 - 24 minutes - 17.1 MBSpanish 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’s capacity crunch
October 21, 2021 22:00 - 23 minutes - 16.4 MBPoland 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.
Beyond speed dating
October 14, 2021 22:00 - 18 minutes - 12.7 MBGermany’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
Putin intervenes
October 07, 2021 22:00 - 26 minutes - 18.1 MBUK 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
Calls to curb surging energy prices
September 30, 2021 22:00 - 32 minutes - 22.1 MBEurope’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...
Can Berlin deliver by Christmas?
September 28, 2021 12:00 - 22 minutes - 15.8 MBWe 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
Traffic light or Jamaica for Germany?
September 23, 2021 22:00 - 24 minutes - 16.7 MBA 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
Turkey turning green?
September 16, 2021 22:00 - 18 minutes - 12.7 MBThis 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
The end of an era?
September 09, 2021 22:00 - 21 minutes - 14.7 MBNorway’s election on Sunday and Monday could herald a change in the country’s climate policy, as current polls indicate growing support for calls to end oil and gas exploration. Listen to a discussion on the implications for Norway’s oil and gas sector, as well as what the Nordic country’s green transition could mean for others looking to wean themselves off fossil fuels. Guest: Stig Schjolset, Head of Policy, Zero
Carbon gains continue
September 02, 2021 22:00 - 25 minutes - 17.3 MBDespite calls for calm by the European Commission, carbon prices are continuing to break records, largely due to a soaring gas market and expectations of more stringent environmental legislation. Listen to a discussion outlining the reasons behind the extreme volatility, the key fundamentals and the outlook for the coming months. Guests: • Ingvild Sorhus, Lead EU Carbon Analyst, Refinitiv • Bernadett Papp, Analyst, Vertis Environmental Finance
Bullish cocktail
August 26, 2021 22:00 - 21 minutes - 14.5 MBNordic wholesale electricity prices have soared in recent months on a combination of low hydropower stocks, grid congestion, forecasts of dry weather and the start-up of the NSL cable linking Norway to the UK. Listen to a discussion on the reasons for the price surge, the outlook for the months ahead and the implications for the region’s heavy industry. Guests: Sigbjorn Seland, Chief Analyst, Storm Geo Ole Lofsnaes, Nordic Energy Director, Alcoa
Winter gas supply risk
August 19, 2021 22:00 - 29 minutes - 20.3 MBThis week’s pod discusses the outlook for Europe’s gas market for the coming months, as the risk of higher prices is a concern amid doubts over supply, both from pipelines and LNG, robust demand and very low storage levels ahead of the winter. An additional factor could be Nord Stream 2, with prices plunging this week after operator Gazprom announced plans to start supplying Germany through the contested pipeline this year. Guest: James Waddell, Head of European Gas, Energy Aspects
Commodity bull run
August 12, 2021 22:00 - 27 minutes - 19 MBThis week’s pod discusses soaring energy prices, asking what is behind the bull run, how long it could last and what are the implications for energy intensive industries? As prices surge there is an increased risk of political intervention and perhaps even a call for Germany to return to nuclear power. Guest: Olav Vilnes, Editor Nordics, Montel, Nathan Witkop, Correspondent Germany, Montel
A guide to the EU taxonomy
August 05, 2021 22:00 - 24 minutes - 16.7 MBBack after a short summer break, this week’s pod takes a close look at the EU’s green finance taxonomy and how its criteria on sustainable investments will impact the energy sector. Listen to a discussion on whether nuclear and gas should be included and why some did not want to include hydropower as part of the criteria. Guest: Nathan Fabian, Chair of the European Platform on Sustainable Finance and Chief Responsible Investment Officer at the United Nations-supported Principles for Res...