Switched On Weather and Commodities: A Perfect Storm
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Feb 19, 2025 In this discussion, weather analysts Jess Hicks and Willa Tobin from BNEF explore how shifting weather patterns profoundly affect commodities and infrastructure. They dive into the economic fallout from extreme weather events, including heatwaves and droughts, and their implications for energy production. The duo also highlights innovative weather modeling techniques that could predict future trends. Additionally, they discuss the rising costs tied to climate chaos, including natural gas demand and the financial tools used to manage these risks.
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Weather vs. Climate
- Weather is the state of the atmosphere at a specific time.
- Climate represents long-term averages of atmospheric conditions, typically over 30 years.
Why BNEF Researches Weather
- BNEF researches weather because it impacts the energy transition.
- Weather affects power demand, renewable generation, and fossil fuel production.
European Wind Droughts
- Low wind speeds in Germany are impacting wind power generation.
- This decrease in wind power is becoming increasingly frequent in Europe.