An interesting convergence in my inbox this morning. First; Patrick Pouyanne, the CEO of France’s TotalEnergies, said the following during a recent interview.
Total boss warns governments risk mis-selling energy transition
“The long-serving chief executive of France’s TotalEnergies has warned that governments are mis-selling the energy transition if they fail to acknowledge the shift to a less-polluting system will lead to higher energy costs. “We think that fundamentally this energy transition will mean a higher price of energy,” Patrick Pouyanné said in a wide-ranging interview, in which he defended his group’s two-pronged strategy to invest in renewable power, while still pursuing new oil and gas projects decried by climate activists…” as quoted in the Financial Times.
The second is the recently released report on the Energy Transition by Ernst and Young: https://www.ey.com/en_gl/power-utilities/three-ways-to-move-energy-consumers-from-interest-to-action
“Sixty-five percent of people we surveyed say they know how to start making sustainable energy choices, but 70% told us they are not willing to spend any more time or money on doing so. It seems consumers are struggling to see the payoff for their efforts so far. Many say the energy system just isn’t
delivering on the three fundamental aspects of the energy experience: affordability, access and appeal.”
67% of consumers say they can’t absorb a bill increase of 10%. This is definitely not good news if Patrick Pouyanne is correct that the energy transition will increase costs. Exergy’s own analysis and forecastconcur with Patrick’s but unfortunately add an addition negative dimension: Outages and power quality problems will continue to increase during the transition.
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