Two camps, one led by Germany and the other by France, are fighting it out, each with a blocking minority on a specific point: Should low-carbon hydrogen be taken into account when measuring the efforts of member states to reach the target of 45% of renewables in their energy mix by 2030?

The key is reliable and independent data flows and communications between smart meters and the whole interconnected world of the smart electric utility of the future.

Banking crisis seems to be a regulatory issue not a monetary policy issue. Dollar may get a leg up higher soon despite the fluid situation. Natural credit tightening by banks being a factor to consider, also remembering the Core PCE Data during the week.

Brent slid 48 cents, or 0.6%, to $75.43 a barrel, WTI dropped 52 cents, or 0.7%, to $69.44 a barrel.

For 2023, the world oil demand growth forecast remains unchanged at 2.3 mb/d, with the OECD Americas and OECD Europe revised slightly lower, while China is revised higher, with jet/kerosene and gasoline leading demand growth.

Germany suffered the most among EU member states from the Russian supply curtailments, with a number of buyers forced to buy expensive gas on the open market to make up for the Russian shortfall.

Renewable generation capacity increased by 295 GW (+9.6%) in 2022. Solar energy continued to lead capacity expansion, with a massive increase of 192 GW (+22%), followed by wind energy with 75 GW (+9%). Renewable hydropower capacity increased by 21 GW (+2%) and bioenergy by 8 GW (+5%). Geothermal energy increased by a very modest 181 MW.

"Every politician knows who blew up Nord Stream, but hypocritically keeps quiet," says Vucic.

Energy Infrastructure: Low-carbon heating requires technologies that ensure an efficient and secure integration into the (electrical) grid.

A total of 529.2 billion cubic meters of gas were added to natural gas reserves in the course of geological exploration in 2022. This means that gas reserve addition rates have been surpassing gas production rates for as many as 18 consecutive years (with the 2022 production rates standing at 412.6 billion cubic meters of gas).