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Multi-billion energy company euro lawsuits derail climate action | Climate Change | DW


Multi-billion euro lawsuits derail climate action
An archaic energy treaty is being weaponized by big emitters to sue EU governments who are phasing out fossil fuels. Hundreds of billions of taxpayer funds could be redirected from climate action to corporate coffers.
RWE will have to shutter its brown coal power stations but wants billions of euros in return
In February, German energy company RWE invoked an obscure agreement called the Energy Charter Treaty (ECT) to sue the Netherlands for 1.4 billion euros ($1.67 billion) as compensation for phasing out coal by 2030.
The case is the tip of a litigation iceberg, with another German energy company, Uniper, on Friday confirming it is taking the Netherlands to court over its coal exit, and in parallel is suing for a reported 1 billion euros under the ECT. Such claims are magnified due to an obscure future earnings clause.  ....

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German government backs build of blockchain energy trading platform - Ledger Insights


2 months ago
The German Ministry of Economic Affairs and Energy is funding a three-year research project conducted by the Reiner Lemoine Institute focused on implementing blockchain technology in electricity trading. The project is entitled BEST, a German acronym for Blockchain-based decentralized energy market design and management structures. It started in January.
Other consortium participants include OLI Systems GmbH, fortiss GmbH, the Fraunhofer Institute FOKUS, and utility e-regio.
Germany is committed to pursuing the energy transition to shift consumption from fossil-based systems such as oil, natural gas and coal, to renewable sources. 
With conventional sources of energy, utilities can buy and sell electricity on the market and start-up or shut down power plants to adjust for demand. Renewable options – whether wind or solar – are more unpredictable and cannot easily adjust to demand at short notice, which creates a greater imbalance between supply ....

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