VIDEO: Accelerate the energy transition

Taxation of electricity produced by offshore wind and other renewables, as well as taxing these technologies, is something the industry needs to stand up against if it wants to see even lower costs and accelerate the energy transition, according to Ditlev Engel, CEO at DNV GL Energy.



In most countries, the industry is talking about cost of energy and lowering cost of energy, but the real matter should be taxation of electricity, according to Engel.

“Taxation is what most people are paying for the most, it is not the cost of generation. Therefore, the real question here is not about the technology, but about how most regulators and politicians have decided to tax it and, if we are trying to meet the goals from the Paris Agreement, will they tax the electricity and why would they do that,” Engel comments.

Engel: “The reason we taxed it in the old days is because we wanted to lower CO₂ emissions, so why would you now tax something you want more of?!”

He also says that the energy transition can only happen with public support and with people understanding why this is being done. It is the industry’s obligation to make sure people understand the challenges and what needs to be achieved.

Share this article

Follow Offshore Energy Today

Posted on April 17, 2019 with tags .

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply