Gold9472
05-18-2005, 08:40 AM
IEA Warns of Coming Power Failures
http://www.energycentral.com/centers/news/daily/article.cfm?aid=5652038
May 07 - United Press International The Paris-based International Energy Agency has said Europe and North America could face power blackouts this summer.
The agency said utility groups have failed to invest enough in electricity generation and transmission capacity, the Financial Times reported Saturday. Energy companies are also underinvesting in new oil and gas production capacity by up to 20 percent, the IEA said.
London, New York and several cities across southern Europe have experienced large-scale power failures during the past three summers because growing numbers of air-conditioners have driven demand to peak levels.
Fatih Birol, IEA chief economist, said electricity generation capacity in the European Union's 25 member states increased by only 1 percent last year -- less than half the 2.3 percent increase in electricity demand.
Birol said the trend in the European power sector was mirrored by trends in North America and much of the developing world.
http://www.energycentral.com/centers/news/daily/article.cfm?aid=5652038
May 07 - United Press International The Paris-based International Energy Agency has said Europe and North America could face power blackouts this summer.
The agency said utility groups have failed to invest enough in electricity generation and transmission capacity, the Financial Times reported Saturday. Energy companies are also underinvesting in new oil and gas production capacity by up to 20 percent, the IEA said.
London, New York and several cities across southern Europe have experienced large-scale power failures during the past three summers because growing numbers of air-conditioners have driven demand to peak levels.
Fatih Birol, IEA chief economist, said electricity generation capacity in the European Union's 25 member states increased by only 1 percent last year -- less than half the 2.3 percent increase in electricity demand.
Birol said the trend in the European power sector was mirrored by trends in North America and much of the developing world.