Malaysia: Multilateral power deal delayed due to Thai politics; renewal expected next month
Malaysia's Energy Minister said that Thailand has postponed the renewal of a multilateral power trading agreement in Southeast Asia due to changes in local politics. The Lao PDR-Thailand-Malaysia-Singapore (LTMS) Project to supply hydropower from Laos via Thailand and neighbouring Malaysia is now expected to be renewed in November, Energy Transition and Water Transformation Minister Fadillah Yusof told .
Gas prices in Europe are falling as wind energy output increases
The Dutch and British wholesale prices of gas fell early on Friday due to the strong output from wind turbines, which reduced demand and stable supply. LSEG data shows that the benchmark Dutch front-month contract was 32.05 euros per Megawatt Hour (MWh), or $10.99/mmBtu at 0825 GMT. This is a decrease of 0.33 Euro. The Dutch day-ahead contracts was down by 0.16 euros at 32.37 Euro/MWh.
McKinsey: Fossil Fuels will dominate the global energy usage beyond 2050
According to a McKinsey study, oil, coal and gas will dominate the global energy mix long after 2050. This is because the demand for electricity continues to grow faster than the transition to renewables. The continued use of fossil fuels is a major obstacle to reaching global climate targets. The report states that the main reason for the increase…
Spot prices drop on increased wind supply
On Monday, the German Tuesday spot rate fell as it was expected that a rise in wind power would offset an increase in electricity demand. LSEG data shows that the German baseload electricity for Tuesday at 0924 GMT was 143.80 Euro per megawatt-hour, down 0.8% compared to Friday's closing price for Monday delivery. LSEG data revealed that the equivalent French contract was 90 euros/MWh. The Monday contract was not traded on Friday.
BP expects oil demand to grow until 2030, due to a slowdown in energy efficiency gains
BP announced on Thursday that it expects the global oil demand will grow until 2030. This is five years later than their forecast a year earlier. They attributed this to slowed energy efficiency efforts and global carbon emission reductions. Two scenarios are modeled in the latest Energy Outlook from Shell, an annual report on energy trends to 2050. The "Current Trajectory' scenario is based upon existing policies and commitments.
BP delays oil demand peak forecast to 2030 from 2020
BP announced on Thursday that it expected global oil demand growth to continue until 2030. This is five years longer than the forecast made a year earlier. It also highlighted slowed energy efficiency efforts. Two scenarios are modeled in the latest Energy Outlook of oil major, an annual study on energy trends to 2050. The "Current Trajectory " scenario is based upon existing policies and commitments.
Sempra Sells 45% Stake in Infrastructure Unit, Approves Port Arthur LNG Expansion
Sempra said on Tuesday it would sell a 45% stake in its infrastructure unit for $10 billion, and has approved a $14 billion expansion of Port Arthur LNG project in Texas, sending the utility's shares to their highest in nearly seven months.The stake sale to KKR, along with Canada Pension Plan Investment Board, implies an equity value of $22.2 billion for Sempra Infrastructure Partners…
Thailand sets record for annual drop in power output and LNG imports
Thailand's electricity production is expected to drop by a record amount this year due to a mild winter and a slowed economy, according government data. This will result in Southeast Asia’s largest LNG importer experiencing its steepest fall in fuel purchases. Official data revealed that the power generated and imported by the 70 million-plus people in the country fell by 5.4% in the seven-month period ending in July.
Vistra CEO Burke to receive $340 million in compensation amid revival of fossil fuels and nuclear energy
Vistra CEO James Burke will receive approximately $340 million in compensation for his role in bringing the Texas-based utility out of bankruptcy and into the spotlight as the most important power producer in America. Vistra shares are up about 450% from January 1, 2024. This is ten times more than the S&P500's gain of 42%. According to an analysis of restricted shares and stock options granted since 2016…
EIA reports that US Northeast imports of electricity from Canada have dropped.
The U.S. Energy Information Administration said that the decline in electricity imports into New York Independent System Operator, (NYISO), and Independent System Operator New England, (ISO-NE), was due to the drought conditions in Canada as well as lower demand for electricity in Northeastern United States. The EIA reported that imports to New York's NYISO dropped to 25% from 2022 levels between January and August 2025.
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…