Michael Lewis: Decarbonising power ‘done’, heat and transportation next.Eon CEO Michael Lewis
believes the UK has actually mainly split decarbonisation of power generation and should focus on heat and transportation, which is where he said the energy company will concentrate its efforts.Speaking at Aurora’s Spring Forum, Lewis, who took the reins from Tony Cocker a year ago, praised the policy stability of successive previous federal governments in delivering renewables.”[ Eco-friendly generation] has been a big success, however in many methods
, that is currently done,”stated Lewis. While there are” some issues around intermittency”to solve,” we have [achieved] renewable, low and absolutely no carbon generation at a lower price than standard generation. Now we have to rely on carry and heating– and that is where Eon desires to play a key function. “He said heat and transport appeared at a comparable juncture to renewables
“ten or eleven years back”and explained that while the UK has was successful in providing nearly 40GW of eco-friendly generation,”success was far from a forgone conclusion back then”. Lewis stated in 2008, Eon had 2 overseas tasks under building and construction,”both extremely over spending plan and late “. The company had another 2 in operation, both beleaguered by technical troubles. On the other hand, the London Variety task” came that close to not going ahead, and would not have gone ahead unless federal government had actually transferred to 2 Rocs”. Giving offshore wind developers additional aid at that point, he suggested, was now
bearing fruit in making it possible for the economies of scale that are leading to cost decreases.” We will make an ₤ 800m financial investment choice, and had to understand that the federal government guaranteed us, which they did, and developed a world class industry.” That insight must now be applied to decarbonising heat and transport, said Lewis, which is where Eon will focus more fully.”Our company believe our capabilities are much better released where there is still an issue to be solved,” he stated, recommending
the starting point needs to be”making the existing system more effective.” Under the proposed Eon-RWE deal, it has been revealed that Eon will focus mostly on retail and networks, with RWE handling generation.Speaking at the exact same conference, SSE manager Alistair Phillips-Davies said he”saw the SSE-Npower merger going forward and being unaffected by the RWE-Eon deal”. Follow us at @EnergystMedia. For regular bulletins, register for the complimentary newsletter.