Lower demand and rising green energy production curb spot prices
The European power prices fell on Wednesday due to a combination forecasts of higher wind and solar production and rising temperatures that weighed on the demand. LSEG's analysis noted a lower residual load, which would mean that thermal plants do not need to be boosted to match renewable energy output. LSEG data indicated that the electricity demand for the day ahead will probably fall by 2.1 gigawatts to 65.9 GW in France…
X-energy raises $ 700 million for nuclear reactor expansion projects in the US
X-energy, a developer of nuclear reactors, announced on Monday that it had completed a $700m financing round led Jane Street. The funding will be used to expand the company's supply chain and its commercial pipeline. After years of stagnation the U.S. Nuclear industry is experiencing a renaissance, driven primarily by the surging demand for power…
Pakistan claims rooftop solar production will exceed grid demand at some hubs in the next few years
Next year, rooftop solar power generation in Pakistan will surpass the electrical grid's daytime demand for the first-time ever in major industrial areas. This was revealed by a senior government representative. The outlook reflects the record growth in solar panel installations that occurred in the last few years. This boom has resulted in lower emissions, and for some, reduced electricity bills.
China's power generation in October was the highest ever for a month.
Data from the Statistics Bureau showed that China's electricity generation in October was at its highest level in almost three decades. The power generation in October was 800.2 billion Kilowatt-hours, up 7.9% on a year ago and the highest since 1998. The increase in electricity demand resulted in a 7.3% rise in the thermal power production, or fossil fuelled power, at 513.8 billions kWh.
A2A, Italy's data center investment company, has increased its investment plan by $27 billion.
A2A, an Italian multi-utility company, announced on Wednesday that it has increased its projected total investments for 2024-2035 from 23 billion euros to 27 billion dollars. 1.6 billion euro of this amount is earmarked to create and manage data centres. The updated business plan, which will be presented later to analysts, increases projected investments by 1 billion euro and raises financial targets in part three of the strategy.
Analysis finds that China's CO2 emission hasn't increased in 18 months.
Carbon Brief's analysis found that China's carbon dioxide emission was flat on an annual basis in the third quarter. This extends a streak of 18 months with flat or declining emissions. Lauri Myllyvirta, of the Centre for Research on Energy and Clean Air in Helsinki, said that the trend started in March 2024 and could mean CO2 emissions will fall this year if there is no year-end spike.
Maguire: Clean energy push in Australia reaches pivotal milestone for energy transition
Last month, Australian utilities produced more electricity using clean energy sources than fossil fuels. This was a first for one of the top coal and natural gas exporters in the world. Data from the energy think tank Ember show that in October, utility-supplied electricity from clean sources reached 9.88 terawatts hours (TWh), which was higher than the 9.82 TWh produced by fossil fuels.
Coterra Energy misses quarterly profit, raises 2025 production forecast
Coterra Energy, an oil and gas company, missed Wall Street's expectations for the third quarter profit on Monday as lower oil prices offset an increase in production. However, it raised its production forecast. In after-market trading, shares of the company fell 3% to $23.66. U.S. president Donald Trump's policies on trade fueled uncertainty in the energy sector…
Rains dampen the demand for power in India, causing the sharpest fall in October's output since COVID.
A government analysis showed that India's power production fell last month at its fastest rate since the pandemic. This was due to a combination of subdued industry and unusually rainy weather, which reduced electricity demand and cooling requirements. Grid-India, the federal grid regulator, said that total electricity production in October was down 6% on an annual basis to 142.45 kilowathours (kWh).
J-Power shuts down two coal-fired plants and commits to offshore wind project
J-Power, Japan's Electric Power Development Company (J-Power), announced on Friday that it would decommission 2 coal-fired plants by March 2029 in order to achieve its 2030 goal of reducing carbon dioxide emissions by 46 percent from 2013. Hitoshi Kano also reiterated the company's intention to complete the Oga, Katagami, and Akita offshore project…
German Wind seen increasing on Monday as Demand Falls
On Monday, Germany will have a strong wind supply and lower electricity demand. In France, the demand is also predicted to fall at a rate slightly greater than that of wind output. LSEG data showed that the German and French baseload power contracts for Monday were not traded by 0921 GMT Friday. Data compiled by LSEG shows that German wind power production is expected to increase by 12.2 gigawatts on Monday to 29.9 GW.
Utility WEC Energy beats profits on higher power demand
WEC Energy Group beat Wall Street's expectations for the third quarter profit, and posted an 13% increase in net income. The utility also benefited from higher electricity demand among all customer segments. The U.S. Energy Information Administration predicts that power demand in the United States will reach record levels in 2025-2026. This is due to the growth of AI and cryptocurrency datacenters…
DTE Energy increases its five-year plan to spend $6.5 billion on data centers power demand
Oct 30 – DTE Energy raised its capital investment plan for the next five years by $6.5 billion. This was due to an increase in electricity demand by data centers, and to efforts to modernize utility assets. DTE's third-quarter profits also exceeded Wall Street expectations thanks to higher revenues from its electric division. Utility said that its…
French prompts climb on demand, wind power drops drop
On Tuesday, French power prices for the day ahead rose due to a forecast of lower wind production in the region and an increase in electricity demand. After nearly a full week of high wind production, the German wind output will likely decline, said LSEG analyst Naser Hachemi, of the largest market. He added that the country would become a net-importer during the Wednesday peak demand.
The price of gas in Europe has fallen as the milder weather reduces demand
Dutch and British wholesale prices of gas fell on Monday as a result of a weaker heating and electricity demand, despite stable supply. LSEG data shows that the benchmark Dutch front-month contract was lower by 0.31 euros at 31.59 Euro per megawatt hour or $10.77/mmBtu at 0912 GMT. The Dutch December contract is down by 0.24 euros at 31.99 Euro/MWh. The British gas day-ahead price fell by 1.2 pence to 77.50 pence per therm.
Singapore's power demand expected to increase in the next decade
The chief executive of Singapore's Energy Market Authority, who spoke on Monday, said that the expansion of advanced manufacturing and technology in Singapore, as well as the electrification of cars, will increase the growth of power demand in the next decade. EMA CEO Puah Kok Keong said that electricity consumption would grow between 2% to 5% by 2035. This compares with an average increase of 1.9% in the 10 years up until 2024.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year…
Baker Hughes exceeds profit expectations on the strength of industrial and energy technology demand
Baker Hughes, a provider of oilfield services, beat Wall Street expectations for its third-quarter profits on Thursday. This was due to the strength in their industrial and energy technologies (IET) division. Oilfield services firms are navigating a volatile oilfield market. Resilient areas such as LNG infrastructure, upgrades to the power grid, and increasing electricity demand by data centers help support growth.
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 .
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 .