IMF: AI's economic benefits will likely outweigh its emissions costs
The International Monetary Fund (IMF) said that the benefits of artificial intelligence would boost global production by 0.5% per year between 2025-2030, and outweigh the rising costs associated with the carbon emissions from the data centres required to run AI models. The IMF released a report at its annual spring meetings in Washington that noted the fact that these output gains were not shared equally around the globe. It called on governments and businesses to minimize costs to society.
As wind power declines, prompt prices are rising sharply
The strong anticipated loss in wind power supply has boosted European spot electricity prices on Tuesday. This overrides the effects of weaker demand before holidays later this week. LSEG's research showed that Germany would rely on imports in the near future and that thermal production was not changing much. LSEG data shows that the price of French baseload electricity for Wednesday at 0725 GMT was 41 euros ($46.51), an increase of 134.3%. The German baseload day-ahead bid was 86 Euros/MWh after closing at 66.5 Euros.
Capital Power expands in PJM market with $2.2 Billion deal
Capital Power Corp, a Canadian power producer, announced on Monday that it will buy two natural gas-fired power plant operators in the PJM Market for approximately $2.2 billion. The agreement comes as electricity prices in PJM (the largest power market in the United States) are increasing rapidly, and demand for electricity is continuing to rise due to the proliferation of energy-hungry AI data centers, and the electrification and modernization of buildings and transportation.
Germany and France have different spot prices
German wholesale electricity prices fell on Friday due to a strong wind in Germany, while they rose in France, though only from a level that was just half of the price in the larger market next door. Riccardo Paraviero, LSEG analyst, said that the signal for tomorrow was bearish. He added that consumption in the region had decreased. French baseload was up by 25.9% to 35.3 euros ($38.87), a megawatt-hour (MWh) as of 0745 GMT, while German baseload was not traded with a price of 61.5 euro/MWh. This was compared to the previous close which was 82.9 euros.
Polish Minister sees the energy price cap expiring this year
According to Polish Climate Minister Paulina Hnnig-Kloska, the government should be able to lift the cap on energy prices in the final quarter of this year due the falling wholesale prices. Since 2022, Poland has capped power bills to protect vulnerable consumers from the rising costs of energy. It also pays compensation to utilities to offset these costs. The cap has been extended multiple times and is now in place until September. Poland's central banks has repeatedly stated that energy prices are a risk to policy…
Spot prices rise due to lower German solar power
The European spot electricity prices for Wednesday increased on Tuesday, as the German solar power shortage was expected to be greater than gains from wind power and lower demand. German day-ahead electricity gained 1.2% at 0912 GMT to 125.75 Euros per Megawatt Hour. LSEG data shows that the French baseload rate for the day to come was up 10.4%, at 109.60 Euro/MWh. Ricardo Parviero, LSEG analyst, said: "German outlook is bullish once again. He added that a slight drop in demand…
Trump's tariffs against Canada could increase US electricity bills
According to grid operators and energy experts, the rising U.S. electricity prices could rise even more in certain parts of the nation if the 10% tariffs on energy imposed this week by the Trump Administration hit Canadian supplies and triggered retaliation. According to government statistics, the U.S. imports only 1% of all its power, but New York State and other regions, such as New England, rely on Canadian electricity much more. This could mean that utility bills will soon increase for customers.
German wind power supply increases, lowering spot prices
The European spot electricity prices for Wednesday dropped on Tuesday, as the wind power generation in Germany is expected to increase and demand is expected to fall throughout the region. German power for the day ahead fell by 23.9% at 1001 GMT to 83 Euro per Megawatt Hour. LSEG data shows that the French baseload rate for the day to come was 94 euros/MWh - down 13.8%. LSEG analyst Florine Engl said that residual load in Germany is decreasing due to an increase in wind supply. Forecasts indicate that exports will continue to be made throughout the day.
Spot prices are mixed as German winds set to fall
On Tuesday, the European spot electricity prices for Wednesday were mixed as it was expected that wind power production would fall in Germany but increase in France. German power for the day ahead increased by 0.9% at 0930 GMT to 137.75 Euros per Megawatt Hour. LSEG data shows that the French baseload rate for the day was 104 euros/MWh down 1.4%. Marcus Eriksson, LSEG analyst, says that residual load in Germany is on the rise due to a weaker renewable energy supply. However, it has decreased in general in the area.
As the price cap increases by 6.4%, millions of Britons will be paying more for their energy.
After Ofgem announced that its domestic price cap will rise by 6.4% in April due to the soaring wholesale prices of energy, millions of Britons are expected to pay more for their energy. This is the third consecutive quarter that the price has risen. It's a major blow to the government which has set reducing energy costs as one of its goals. This comes on the heels of higher than expected inflation numbers for January. Ofgem has increased its cap for electricity and gas usage to 1…
On Monday, expect a higher German wind output
German and French power prices were not traded on Friday for the Monday. German wind power is expected to increase against a decline in average demand across the region. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0934 GMT. LSEG data indicated that the German wind output is expected to increase by 4.7 gigawatts to 27.1 GW while French output is projected to drop by 1.4 GW at 9.3 GW. The French nuclear capacity remained at 80%.
EU wants more US gas and renewable energy to replace Russian supplies
The EU energy commissioner said that the EU will look to other countries, including the U.S., to supply more gas to replace Russian supplies and to expand renewable energy to reduce its reliance on fuel. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. Despite a decline in Russian pipeline gas supplies, the EU increased imports of Russian natural gas liquefied last year. Jorgensen stated that Brussels is preparing to change the rules for allowing renewable energy to be built faster.
DTE Energy's capital expenditure plan is increased, but the fourth-quarter profits are lower due to lower rates
DTE Energy increased its five-year plan for capital expenditures by $5 billion, on Thursday. The utility had posted a decline in the fourth quarter profit due to lower electricity prices. U.S. utilities are increasing their capital expenditure plans in order to upgrade the electric grid and lines to meet the needs of power-hungry industries. DTE announced that it will spend $30 billion in its five-year plan to improve grid stability and transition to cleaner energy. DTE said that the plan could also support incremental data center investments.
DTE Energy reports a fall in profit for the fourth quarter on lower rates
DTE Energy announced a decline in its fourth-quarter profits on Thursday. The utility was hit by lower electricity prices. Regulations regulate utilities to establish the price that customers will pay for natural gas and electricity. DTE filed a rate case in order to reduce the cost of electricity production. Utility said it had saved $300 million on fuel and transportation after the rate case was implemented in November. It also cut the residential electricity rates by about $5 per month.
Britain launches offshore Wind Farm Incentives Scheme
The UK launched an incentive programme for offshore wind projects on Thursday, hoping to convince developers to invest in order to achieve the ambitious goal of decarbonising its energy system by the year 2030. The Clean Industry Bonus scheme will give successful bidders an initial funding of 27 million pounds (33.5 million dollars) for each gigawatt (GW), or capacity, from offshore wind project. In December, Britain announced that it hoped to increase capacity from 15 GW to 43-50 GW within the next decade.
Prices fall quickly on the expected increase in German wind energy supply
The European spot electricity prices dropped on Thursday, as LSEG data predicted that German wind energy generation would triple in the next day. LSEG's analysis said that lower thermal availability was also bullish, but that the demand in the region is expected to decline day by day. French baseload for tomorrow's day fell 10.8%, to 130 euros ($134.75 per megawatt-hour (MWh) at 0905 GMT. The German equivalent fell by nearly 23% to 117.8 Euros.
Clean energy companies pressure US lawmakers to protect subsides
On Wednesday, U.S. clean energy companies will be heading to Capitol Hill to urge Republican legislators not to eliminate lucrative tax credits that are contained in the landmark climate change legislation of former president Joe Biden. Members of Congress of both parties are being met by hundreds of representatives of firms from the solar, wind, and other renewable energy sectors to promote their role in creating employment and investment, as well as lowering electricity prices and meeting the soaring demand for power from data centers.
German spot prices are affected by higher wind output
The spot electricity prices in Germany fell on Tuesday, as the wind power generation expected to increase. At 0902 GMT, the German power price for the day ahead was down 1.7% at 142.0 Euros per megawatt-hour. LSEG data shows that the French baseload rate for the day was 143.5 euros/MWh. This is a 0.4% decrease. On the supply-side, Germany's wind output was expected to increase by 3.9 gigawatts up to 16.2 GW. French wind power output is expected to drop by 230 megawatts per day to 2.8 GW.
Falling temperatures and lower wind boost spot prices
The European spot electricity prices rose on Thursday due to lower wind production across wholesale markets in Europe and higher usage in France. This market is more exposed to the electric heating demand during winter. Guromarie Wyller, LSEG analyst, said: "France... The German baseload day-ahead at 0925 GMT increased 1.1% over the previous close, trading at 139.0 Euros ($144.63). The French equivalent for Friday delivery increased 16.4% to 128 Euros/MWh.
French spot prices increase on lower wind output
The French prompt electricity prices surged Tuesday due to a drop in supply of wind power and a slight increase in demand. At 1026 GMT on Tuesday, the French baseload power rose by 81.1% and was trading at 67 euros ($69.89). The German equivalent had yet to trade. LSEG data indicated that the German wind power production was expected to increase by 850 Megawatts (MW) to 30.7 gigawatts. In France, wind output is expected to drop 5.5 GW down to 11.7 GW. The data revealed that German solar production is expected to grow by 760 MW, to 3,0 GW.
