Inflation , interest rates, and wars may well delay the energy transition by quite a long time, JP Morgan has warned in a call for “a reality check” on its shift from hydrocarbons to alternatives. “While the target to net zero is still some time away, we have to face up to the reality that the variables have changed,” the bank’s head of global energy strategy, Christyan Malek, told the Financial Times. Malek was the lead author of a new report by JP Morgan focusing on energy.
they are inherently more susceptible to high-interest rates,' Rystad Energy’s head of renewables and power, Vegard Wiik Vollset, said. Wood Mackenzie has also warned that higher rates are having a negative effect on the economics of wind and solar, as a 2% rate increase can push the levelized cost of electricity for these two sources as much as 20% higher. “Interest rates are much higher,” JP Morgan’s Malek also said, speaking to the Financial Times.
Source: Energy Industry News (energyindustrynews.net)
Energy Transition Inflation Interest Rates Hydrocarbons Geopolitics
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