tag:blogger.com,1999:blog-44575127085787190272024-03-19T13:50:35.719+01:00Create Energy SolutionsThe Create Energy Solutions blog is focused on the energy markets and politics of central Eastern Europe and Southeast Europe.Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comBlogger41125tag:blogger.com,1999:blog-4457512708578719027.post-8372421967983306492009-11-12T14:36:00.002+01:002009-11-12T14:50:41.049+01:00Moving to energyscee.comAfter a few months absence from the Create Energy Solutions due to my hectic private life (i.e. birth of our son) my schedule is now getting back on track. So I have the time to devote again to blogging about energy in the SEE and CEE regions. However, this time I would like to take a slightly different tact and launch a website that has more diverse opinions and facts than those presented by Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-38568516921539888252009-07-17T06:52:00.000+02:002009-07-17T06:53:06.660+02:00HomeMichael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-21375452079107571382009-07-14T05:59:00.004+02:002009-07-14T06:35:30.768+02:00Emfesz and the Spider's webTo update you on the situation of Emfesz (the Hungarian gas provider and frequently remarked upon company) and the murky world of its operations in Hungary, I would suggest you check out this post on the Jamestown Foundation's website. The deal involves a $1.00 transfer of the company in Switzerland, $1 billion fraud and notably famous Russians like Alexander Medvedev and the Kremlin PR machine.Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-79937851615532673132009-07-08T06:34:00.003+02:002009-07-08T06:48:04.117+02:00Are we Going the Wrong Way with Climate Policy?If you are like me and are paying some attention to the climate bill debate in the US and around the world, then maybe you've also thought something is not right. Mainly the right part not actually solving any of our problems in greenhouse gas emissions.Out now is a thoughtful report published by 13 academics about the need to change tack on the current policy of cap and trade. It focuses on Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-10909791674642465932009-07-03T06:47:00.006+02:002009-07-03T07:25:59.663+02:00Africa begins turning Europe GreenI have been waiting for this:Twenty blue chip German companies are pooling their resources with the aim of harnessing solar power in the deserts of north Africa and transporting the clean electricity to Europe. The businesses, which include some of the biggest names in European energy, finance and manufacturing, will form a consortium next month. If successful, the highly ambitious plan could Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-32854918287873460582009-06-18T07:05:00.003+02:002009-06-18T07:23:17.725+02:00No Pain Today, No Pain for Tommorow's GasCovering your financial shortfalls with a loan, or with your credit card, or to make you more popular is a trick that even households use. The government of Hungary in the fall of 2008 deferred raising the gas price to reflect the international rise in price. This resulted in E.ON striking an agreement with the government that the price difference would be paid back in the future on loan-like Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-39251184011702855912009-06-12T09:05:00.003+02:002009-06-12T09:19:18.904+02:00Go into Debt and Save on Your Gas BillIn an era where credit cards are quickly going out of fashion we have the launch of a new 'money saving' credit card (in case you didn't know, debit cards are the new black -at least in America) . Budapest Bank and Fogaz have teamed up to co-brand a credit card that allows the average customer to save up to HUF 13,200 (EUR 47.12 USD 65.88) a year through a 6% discount on their gas utility bill byMichael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-72393643990844600662009-06-11T08:43:00.003+02:002009-06-11T09:01:37.135+02:00The dramatic crash that is HungaryThe fall in GDP in Hungary is staggering. To an extent the fall for other countries is dramatic, but the thing to consider is how many years it will take to rise back to the overall economic level that existed in 2007. If we have a significant drop in GDP this year and in 2010 (even if it stays flat), the ability for Hungarians to reach parity with Western Europeans is even that much further out.Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-71530051740015275012009-06-10T05:51:00.002+02:002009-06-10T06:38:09.371+02:00Decreasing Gas PricesWell, even the headline writer didn't believe it 'Bulgargaz Offers 33% Increase in Natural Gas Price' when actually the price will be declining by that much. The cited reasons for the decrease rests on the fall of the wholesale price of gas and the fall in alternative fuels and the exchange rate with the dollar. Now, let's wait and see if other countries also follow through with significant Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-61609897117617957452009-06-05T09:20:00.003+02:002009-06-05T09:26:21.428+02:00Haggling in the Turkish BazaarFor anyone that has enjoyed bargaining over a Turkish carpet in Turkey, or in my case a engagement ring, the experience is usually pleasant and filled with a lot of back and forth. Thus as the Jamestown Foundation reports via Reuter, negotations with Turkey and their bargaining position of 15% of off take from the Nabucco pipeline are still ongoing.Yildiz was asked about the Nabucco Managing Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-61409713483368596582009-06-04T05:28:00.006+02:002009-06-04T07:38:25.795+02:00Visions of the (Western) European Energy FutureSo if Russia turned off all the gas taps to Europe, Europe would be fine, since other alternatives are possible - unless you are Bulgaria. Well, that was the viewpoint of one leading (Western European) academic of at the 6th European Energy Market Conference in Leuven, Belgium. I attended it last week (May 27-29, 2009).To keep you in suspense and to keep you reading, I'll come back to the gas Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-47106737439511366652009-06-01T10:49:00.007+02:002009-06-01T10:59:08.586+02:00Wind Power and Agreement in AmericaHere is a well written and produced video story about the growth of wind power in Texas and its acceptance. While this story is well known, this is a good overview and touches on a number of topics I'll be writing on in the coming days. I attended an energy conference last week and came away with some strong impressions of the future make up of Europe's energy infrastructure.Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-56865903260331108722009-05-31T12:44:00.007+02:002009-05-31T13:30:53.853+02:00The Privatization of Electricity Companies in the SEE RegionThe report that Vidmantas Jankauskas and I wrote for USAID and NARUC is finally publicly released. I'm very happy to say. It is about the privatization of the electricity distribution companies in Bulgaria, Macedonia and Romania. Through case studies we explore key issues that have influenced the successful or not-so-successful outcomes of these privatizations. The overall objective of the Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-89241023005671442012009-05-21T09:52:00.003+02:002009-05-21T09:54:25.793+02:00Types of Gas Networks - boring but interestingThe below discussion is a little out of context, and season, but nonetheless, I thought it was good to put in context the different business models. I'm drawing on something that I'm working on right now, so excuse the out of context nature of the text, but it should still be informative.Gas networks are not national in scope. The discussion of the impact of the Russia-Ukraine gas dispute is manyMichael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-63413941703790369712009-05-08T15:18:00.006+02:002009-05-08T15:47:09.546+02:00Oh Wait! Who owns Emfesz?To add to the ongoing saga of what is happening with the shutting down of RosUkrEnergo, here is this very interesting piece in Portfolio.hu describing what appears to be an illegal taking of the whole Emfesz company.Mabofi Holdings Limited has on Thursday claimed it is the “legal owner of 100% of the issued share capital" in Hungarian natural gas trading company Emfesz, which was sold to Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-85150007521662430682009-05-06T07:11:00.007+02:002009-05-06T08:18:10.731+02:00The Rebirth of Middlemen for Russian GasThe arranged demise of RosUkrEnergo (RUE), the intermediary of Russian gas, after the Russian/Ukraine gas dispute in January 2009 was meant to bring clarity to purchasing Russian gas. The contracts held by RUE involved deals with Hungary's Emfesz and Poland's PGNiG. With the shutting down of the company these buyers have had to find another way of buying gas from Russia. It seems though that the Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-406728188894086122009-01-19T13:47:00.010+01:002009-01-19T14:15:14.491+01:00Collapse of Utilities in 1929 Portends Financial Collapse in 2008While going through my PhD thesis, I came across the following section written in 2005, which describes how the utilities helped plunge the US (and the world) into the Great Depression. It reads just like it happened now, but in the financial sector.Do two things while reading this. Replace 'utilities' with 'financial firms and mortgage brokers' and you'll find out, how through the gaps in the Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-13303157100177953142009-01-09T07:45:00.006+01:002009-01-09T08:16:21.504+01:00Hungary Offers a Cannister of Gas to Freezing SerbiaHungary has decided to send a little gas Serbia's way. While this is certainly a good thing, it can be seen as a reluctant step to help out a freezing neighbor. The question is should Hungary send more to a neighbor that has no reserves and is freezing its butt off now. That is since heating has been turned of for some residential customers? Also, how does contribute to CEE/SEE regional Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-12580633913899766842009-01-07T06:27:00.004+01:002009-01-07T07:04:57.694+01:00Why being Green-ish may not pay with RussiaI like the following article for the sheer fact that in this case, the old gasoline and diesel is still reliable.In Bulgaria's top ski resort, Borovetz, which relies on natural gas for heating and energy they are now a bit concerned about getting enough gas. So they sent a letter to thestate-owned gas monopoly Bulgargaz asking them to secure the necessary quantities of natural gas for the top skiMichael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-26009975921767948222009-01-06T06:45:00.006+01:002009-01-06T07:28:02.961+01:00Looking for the Golden Gas RouteThe cold seeping into the house can put your mind to work if you imagine what it would be like to have no heat, no gas, and a low alcohol supply. The New Year seems to bring with it not just its seasonal cold but the Russian/Ukraine gas dispute. What is known this is not a new dispute (good article and worth a read). But what I think is new this year is the emphasis in the media about a 'Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-90272673864663950542008-12-19T06:40:00.004+01:002008-12-19T07:06:18.581+01:00Investments, Investments, InvestmentsWith all the grim news about the fall in the global economy it is very nice to see that there are positive developments in the energy sector. We can summarize the final year news as 'clean energy'. This bodes well for the future development in the market.First we have the news that Romania finally got its act together and brought the different project partners together, with RWE in the lead, to Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-40696344643705431382008-12-16T05:40:00.003+01:002008-12-16T06:03:06.702+01:00Crunching the Credit to Make PowerOne casualty according to this article in the FT, is the lack of finance credit for energy projects in the UK, particularly nuclear. The point is made, and we should reflect upon this for the wider CEE market place, that the withdrawal of generation impacts on the ability of countries to meet their climate change goals.“Generating capacity equivalent to nearly a third of current electricity Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-85986305671767033682008-12-11T21:04:00.002+01:002008-12-11T21:07:50.769+01:00For those study trips to CEE/SEE Nuclear Plants. Why sweat?Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-9990771007498002502008-12-11T07:06:00.006+01:002008-12-11T07:39:30.985+01:00Regulation = Green Subsidies - Really?The nationalization of banks, investment firms and the automotive companies in the US and elsewhere might lead one to think that the large scale energy industry might be next. Apparently, this is what David Victor thinks in his Newsweek article. Well, I've simplified his argument but essentially what he says, is the market based approaches that have been tried to encourage green energy are not Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.comtag:blogger.com,1999:blog-4457512708578719027.post-83220009811928446522008-12-10T05:31:00.002+01:002008-12-10T05:54:06.502+01:00Looking for the Greener/Dirtier CompromiseGetting to 20% by 2020 ain't no easy thing. The commitment by the EU to reduce its greenhouse gases by 20% is nearing some negotiation deadline which is this weekend (Dec. 13th). Poland and Germany are looking for solutions to uphold their right to continue on the coal fired power plant route. Their continued heavy reliance on coal and the lack of effective technologies to deal with the gases Michael LaBellehttp://www.blogger.com/profile/14799940537293696971noreply@blogger.com