China's fossil-fueled power generation in August rose to its highest level in decades
Data and records from the Statistics Bureau showed that China's fossil-fuelled electricity generation in August rose to its highest since at least 1998. This was to compensate for a fall in hydropower production to meet summer demands, according to data. The rise in demand was a result of China's most extreme summer ever, which increased air conditioning use.
Bangladesh increases its power purchase from India and reduces its fuel oil consumption as the demand for electricity rises
Industry officials and analysts report that Bangladesh is increasing power imports from India as well as the output of fuel oil-fired plants to try and meet its rising electricity demand. The country faces a shortage of gas and maintenance costs for coal power plants. Government data revealed that power imports from eastern India's Adani Power coal-fired plants rose by 70% during the seven-month period ending in July…
India offers large incentives for carbon capture as coal remains a major part of the energy mix
India is planning to launch a national initiative to capture carbon dioxide with significant government incentives as it tries to balance its rising energy demands with climate goals, while still relying heavily on coal. Rajnath Ram said that the initiative, which aims to promote carbon capture, utilisation, and storage (CCUS), could provide funding support ranging between 50% and 100% for selected projects.
GASTECH-Japan’s Inpex considers UAE production increase, Norway expansion
Inpex, Japan's largest oil and gas exploration company, is looking at increasing production in its concessions onshore and off-shore in the United Arab Emirates as well as expanding their activities in Norway. This was announced by its chief executive and president on Tuesday. Takayuki ueda, speaking on the sidelines at the Gastech conference held in Milan…
Industry official: Japan will start planning floating wind testing centre next year
A senior industry official announced that Japan will begin planning for a floating national wind test centre in 2019. The official vowed to continue on the path of wind energy growth despite recent setbacks, such as Mitsubishi quitting three projects. Last month, Mitsubishi-led consortiums dropped plans to build three offshore windmills that won Japan's first large state auction in 2021.
India's power production rises at the fastest rate in five months due to industrial boost
The data of the federal grid operator revealed that India's electricity generation in August increased at its fastest rate since March. Manufacturing activity was accelerating due to strong demand. Grid India's daily analysis showed that the 4% increase in output of electricity last month led to a first-time annualised boost in coal-fired generation in five months.
Data center owners ask US Treasury to maintain renewable energy subsidy regulations
The Data Center Coalition, which includes Google, Amazon, and Microsoft as data center owners, has called on U.S. Treasury Sec. Scott Bessent, to maintain existing rules regarding wind and solar energy subsides, stating that they have allowed the industry to grow rapidly and remain ahead of China's competition. A tighter set of rules for qualifying…
Constellation Energy exceeds profit expectations on robust power demand
Constellation Energy, a major U.S. energy company, beat Wall Street expectations for the second-quarter adjusted profits on Thursday. This was due to rising demand from data centres and lower interest costs. Constellation and other independent power companies have benefitted from the record-high electricity demand. This is further fueled by the expansion of Big Tech’s energy-intensive, data center.
Sempra exceeds profit expectations on US utility growth
Sempra, a company that provides energy infrastructure in the United States, beat analyst's expectations for its second-quarter profits on Thursday. The growth of its U.S. utilities and cost reductions helped. U.S. utilities continue to grow, fueled by a growing electricity demand from sectors like data centers and energy-intensive industries. Grid reliability is also a major concern.
Germany wants to reduce its dependence on China for wind energy components
Germany's Economy Ministry published plans Tuesday to diversify sourcing of key components used in offshore wind turbines mainly by 2035, to reduce dependence on China. The government is implementing a "de-risking strategy" amid the geopolitical tensions between China and the United States, as well as after the Russian war in Ukraine triggered an…
TC Energy increases its core profit forecast for the full year on natural gas and electricity demand
TC Energy, a Canadian pipeline operator, raised its core earnings forecast for the full year adjusted on Thursday due to increased demand for natural gas and electricity and its North America operations. TC Energy announced in May that it expects a surge in capital projects to be announced later this year or in the following years, due to coal-to…
Xcel Energy’s quarterly profit is boosted by rising electricity demand and rate increases
Xcel Energy, a U.S. utility, reported a 47% increase in its second-quarter profits on Thursday, boosted by higher revenues through rate increases, even though rising interest rates, depreciation, and operating costs offset some of the gains. Xcel has been able to increase its revenue in the third quarter through rate increases approved by the regulator.
French spot prices rise on the wind losses, but are still impacted by holidays.
The wholesale French power day-ahead rose on Thursday as the wind power supply in the region was forecast to decrease, while the week-ahead price fell due to the beginning of the main holiday season. In France, August is a major holiday month. This also applies to Germany. Schools are closing now in two of the most populous states in southern Germany: Baden-Wuerttemberg and Bavaria.
Japan's JERA Q1 profits down slightly on weaker overseas sales
JERA, Japan’s largest power generator, posted on Thursday a 1% decline in net profit during the first quarter fiscal year 2025, to 92.5 billion Japanese yen (621 million dollars), due to a weaker power generation overseas, including renewable energy. JERA, the joint venture between Tokyo Electric Power (TEP) and Chubu Electric Power (CEP), saw a net profit of 93.4 billion yen in the same time period last year.
IEA forecasts the fastest increase in power demand since more than a decade
The International Energy Agency announced on Wednesday that global electricity demand will increase at the fastest rate in more than a decade. This is due to increased industrial use, data centres, and electric vehicles. The International Energy Agency said that demand will rise by 3.3% between 2025 and 2026. This is well above the 2.6% seen from 2015 to 2023.
Utility Duke Energy sells Tennessee Natural Gas Business for $2.48 Billion
Duke Energy announced on Tuesday that it will sell its Tennessee Natural Gas Distribution business to Spire, for $2.48 Billion in cash. The utility is looking to streamline operations while releasing capital to invest in upgrades to the electric grid. The company stated that approximately $800 million will be used to reduce debt at Piedmont Natural Gas.
Endesa reports 30% increase in profits but warns that Spain's grid plans lack incentives
Spanish power utility Endesa announced on Tuesday that its net profit for the first half of this year rose by 30% to 1,04 billion euros ($1.20billion). However, it warned that a proposed framework to reward power grid investment in Spain does not offer sufficient incentives. Enel, the majority owner of the company, has focused on upgrading and expanding…
Trump cuts subsidies for US clean energy, bringing an end to the boom.
Bila Solar, a Singapore-based manufacturer of solar panels, has suspended plans to double the capacity of its new Indianapolis factory. Heliene, a Canadian competitor, is reviewing its plans to build a solar-cell facility in Minnesota. NorSun, a Norwegian manufacturer of solar wafers, is evaluating the feasibility of a planned facility in Tulsa. Two offshore wind farms that are fully permitted in the U.S.
Prices for day-ahead solar are higher in Germany
The French and German day-ahead baseload power prices increased on Monday morning, due to a weaker solar production in Germany and heightened demand in France. LSEG data show that the French baseload contract for Tuesday increased by 2.25 Euros to 42.00 Euros per Megawatt Hour (MWh), while the German equivalent contract rose 35.35 Euros to 90.50 EUR/MWh.
Germany's wind energy expansion is picking up but the targets are still not met, according to lobby
The BWE wind lobby reported on Tuesday that Germany's onshore power sector has recorded its best half-year in 2017 but still fell short of legally mandated goals. Berlin wants to generate 80% of Germany’s electricity using renewable sources by 2030. This goal has been accelerated due to recent reforms, and the decline in Russian fossil fuels imports following the invasion of Ukraine.