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#Energy & Sustainability

Europe’s Pathways to Net Zero: The Role of Renewable Gases and Flexibility

  • October 15, 2024
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The CERRE report, “Europe’s Pathways to Net Zero: The Role of Renewable Gases and Flexibility”, authored by CERRE Research Fellow Chi Kong Chyong (Oxford Institute for Energy Studies) examines the complex challenge of transitioning Europe’s energy system to net zero by 2050 while addressing the energy policy trilemma of decarbonisation, affordability, and security. 

Three scenarios – “Reference”, “Flexible Demand”, and “Reliable” – are modelled to evaluate the impacts of energy system reliability and demand flexibility in Europe’s transition to a net-zero energy system by 2050. The scenarios aim to capture key trade-offs between system costs, energy prices, and infrastructure investments. 

The comparison between the scenarios demonstrates that while the “Reliable” scenario requires slightly higher investments, it avoids potential price spikes and inefficiencies in the “Reference” scenario due to the flexible operation of hybrid heat pumps and tight reliability standards. 

Based on these findings, the author concludes that a cost-effective way to decarbonise European economies by 2050 while maintaining energy security and affordability is to promote demand-side flexibility, and accelerate the deployment of renewable energy and advanced storage technologies. An enhanced cross-border cooperation and market integration remains an important foundation for the energy transition. 

Watch the full recording of the presentation of the report at the CERRE Path to Net Zero Summit

Author(s)
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Kong Chyong
Kong Chyong
Research Fellow
and Oxford Institute for Energy Studies

Dr. Kong Chyong is an applied energy economist and policy analyst with a strong background and more than fifteen years of experience in applications of economics and operational research methods to energy and climate policy questions. Kong’s research interests include economics and geopolitics of Russian natural gas exports, with a focus on Russo-Ukrainian bilateral relations and impacts on Europe and global gas markets. He also works on large-scale modelling of power markets, with a focus on low-carbon generation sources and integration of renewables.

Currently, Kong is a Senior Research Fellow in Energy System Economics and Modelling at the Oxford Institute for Energy Studies. Before this, he was Senior Research Scholar with the Center on Global Energy Policy at Columbia University. Prior to joining Columbia University, Kong was a research associate with the Energy Policy Research Group (EPRG) based at the Cambridge Judge Business School, University of Cambridge. Kong holds a PhD in Energy Economics and Policy (2011) and an MPhil in Technology Policy (2007) from the University of Cambridge. His PhD topic concerned Russia’s strategic natural gas export policy and Gazprom’s pipeline investment strategy.

Prior to his studies at Cambridge University, Kong was a researcher at the at the National Academy of Sciences in Ukraine.

Dr. Kong Chyong is an applied energy economist and policy analyst with a strong background and more than fifteen years of experience in applications of economics and operational research methods to energy and climate policy questions. Kong’s research interests include economics and geopolitics of Russian natural gas exports, with a focus on Russo-Ukrainian bilateral relations and impacts on Europe and global gas markets. He also works on large-scale modelling of power markets, with a focus on low-carbon generation sources and integration of renewables.

Currently, Kong is a Senior Research Fellow in Energy System Economics and Modelling at the Oxford Institute for Energy Studies. Before this, he was Senior Research Scholar with the Center on Global Energy Policy at Columbia University. Prior to joining Columbia University, Kong was a research associate with the Energy Policy Research Group (EPRG) based at the Cambridge Judge Business School, University of Cambridge. Kong holds a PhD in Energy Economics and Policy (2011) and an MPhil in Technology Policy (2007) from the University of Cambridge. His PhD topic concerned Russia’s strategic natural gas export policy and Gazprom’s pipeline investment strategy.

Prior to his studies at Cambridge University, Kong was a researcher at the at the National Academy of Sciences in Ukraine.

More publications

on #Energy & Sustainability

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Market Design Options for CCS in Europe: CO2 Transport and Storage Regulation
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15 October 2024
A Balanced Path to a Net Zero Future: Expansion, Flexibility, Integration and Innovation
15 October 2024
Securing Europe’s Net Zero Path with Flexible LNG
25 September 2024
Ambitions for Europe 2024-2029
27 June 2024
Towards a More Dynamic Regulation for Energy Networks
26 March 2024
Scaling up Offshore Wind Energy in Europe
11 October 2023
Building Resilience in Europe’s Energy System
1 June 2023

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