Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's full-scale invasion of Ukraine…
UK launches energy security summit by investing in offshore wind supply chain
The UK will host a summit on energy security in London, starting the event by promising to invest 399 million pounds (399 million dollars) into the domestic supply chain of offshore wind projects. After the Russian invasion of Ukraine, 2022, which led to price spikes around the globe and saw the EU try to reduce its dependence on Russian fuels. The UK Government…
UK bans state investments in solar panels that are linked to forced labor
The energy department announced on Wednesday that Britain will avoid using solar panels associated with suspected forced labor in China by its new state-owned company, Great British Energy. Over 80% of solar panels are produced in China. According to a study by the UK's Sheffield Hallam University, forced labour is used in the production of polysilicon - one of the panel's core components - among Uyghurs.
French prompts higher as demand increases and wind output drops
The French spot electricity price for Thursday increased on Wednesday, as the wind power supply is expected to decline and the domestic demand to increase. The price of French baseload electricity for Thursday TRFRBD1 rose 36.4% to 65.50 Euros ($74.50 per megawatt-hour) at 0749 GMT. On Tuesday, the equivalent German contract that had not yet traded on Wednesday closed at 89.25 Euros/MWh, up 39.2%.
Government data shows that Britain's greenhouse gases emissions decreased by 4% between 2024 and 2025.
The government released preliminary data on Thursday showing that Britain's greenhouse gases (GHGs) will fall by 4% between 2024 and 2025. This is due to the closing of the last coal-fired plant in the country, and the reduction in emissions from the industrial sector. Britain's goal is to achieve net zero emissions in 2050. This will require an increase in renewable energy and the switch to cleaner electric cars.
Indonesia Minister says other countries will not follow U.S. withdrawal from JETP Energy Transition Funding
A senior Indonesian Minister said that the United States' decision not to continue with the Just Energy Transition Partnership (a commitment of developed countries to fund energy transition) will have no impact on the commitments made by the other partners. JETP, a global financing initiative that brings together rich nations with lenders from around the world to assist poorer countries adopt cleaner energy sources…
UK Invests $71M in Scottish Port Expansion for Floating Wind
Britain will invest 55.7 million pounds ($71.45 million) in the Port of Cromarty Firth in Scotland to expand the facility to become a hub for floating offshore wind, the government said on Wednesday.Britain has a target to largely decarbonize its electricity sector by 2030 which will require a huge ramp up in renewable power like offshore wind.Using floating turbines, that are not fixed to the seabed like traditional wind farms, allows
Indonesia will maintain the monopoly of electricity by state utilities, says the president's assistant
A close advisor to Indonesian President Prabowo said that he has decided to not change the monopoly of the state-owned power utility on the electricity markets despite calls to liberalise the market to encourage investment in renewable energy. Hashim Djojohadikusumo is the brother of the president and his adviser. He said that despite some conglomerates' requests, Prabowo had decided to keep PLN as a monopoly.
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.
China's carbon power will rise in 2024, surpassing expectations that coal would peak
Official data released on Friday showed that China's thermal power generation, which is mainly coal-powered, increased by 1.5% between 2024 and 2025. This was contrary to expectations, as coal generation had been expected to peak. However, growth has slowed down, reaching its lowest level in nine years, excluding years during the COVID-19 epidemic. The…
Hapoalim provides $1.5 billion to Dalia Energy for a new power plant
Dalia Energy, an Israeli company, announced on Thursday that it had signed a loan agreement with Bank Hapoalim for 5.3 billion Shekels ($1.5billion) to fund the construction of a brand new power plant. The deal, which is non-binding, is intended to fund the construction of a new power plant with a capacity of up to 850 megawatts at the site of Ashdod's current Eshol Power Station.
Biden Team wraps up expanded Clean Energy Credit Guidance
The Biden Administration released Tuesday guidance to assist companies in securing clean energy tax credits as part of the 2022 Inflation reduction Act. This program finalized a program that extends subsidies previously available for solar and wind to other low-carbon sources. This move is a part of the actions taken by outgoing president Joe Biden to support his administration's efforts to combat climate change.
Moldova declares a state of emergency when the risk of Russian gas being cut off looms
The Moldovan parliament voted on Friday morning to declare a state of national emergency lasting 60 days, starting Dec. 16, due to the expected interruption of Russian gas supply on Jan. After Prime Minister Dorin Recean's request for approval, 56 members of the 101-seat chamber approved the measure just after midnight. He said that the vote was to stop "gas blackmail" by Moscow.
SSE, a British utility, announces a $28 billion investment plan for grid infrastructure
The UK utility SSE announced on Tuesday that its power network arm SSEN Transmission will invest at least 28 billion dollars in grid infrastructure in a five-year span beginning April 2026. Britain wants to decarbonise the electricity sector in Britain by 2030. This will require an increase in renewable energy generation, and massive investments to connect these new projects to power systems.
Developer: Five investors bid for UK Sizewell C nuclear stake in the bidding process
The project developer said on Thursday that five investors were involved in the bid to buy stakes in Sizewell C, the nuclear plant being constructed in Britain by EDF and the British government. The Labour Party in Britain has stated that nuclear plants are important to help the country achieve its climate goals and decarbonise their electricity sector. The project is looking for investors to invest in the Sizewell-C nuclear plant.
EDF will extend the operational life of four British nuclear reactors
EDF said it would extend the lives of four British nuclear power plants and invest 1,34 billion pounds in the British fleet between 2025 and 2027. This will boost the energy security of the country and its efforts to achieve its climate goals. Britain's goal is to decarbonise the electricity sector by 2030, and reduce its dependence on fossil fuel power plants that currently provide around one third of Britain's power.
EU Energy Watchdog Sanctions Bosnia over Non-compliance with Rules
The European Union's energy watchdog has extended sanctions against Bosnia for another two years over the Balkan country's failure to comply with the body's gas and electricity sector regulations.Bosnia has been sanctioned for much of the period since 2015 due to its persistent failure to amend legislation in accordance with the Second Energy Package in the gas sector…
Siemens Exits Power, Gas, Renewable Biz
German conglomerate Siemens AG said it will spin off and give up its majority stake in its energy division and merge it with separately listed wind turbine supplier Siemens Gamesa Renewable Energy (SGRE), creating a new multi-technology global energy powerhouse. The company’s supervisory board announced the spinoff on May 7 as part of its Vision 2020+ strategy concept.
Batteries hasten winds of change for electricity stocks
Bigger, better batteries are speeding up change in the U.S. electricity sector and could help power a rally in Xcel Energy Inc, American Electric Power Co Inc and other utility and renewable energy stocks, Barron's reported.After a decade of steep cost declines, wind and solar installations, often paired with battery storage, are increasingly displacing older coal and gas-fired power plants…
RWE Seeks Bigger Market Share in Croatia
German energy group RWE aims to lift its market share in Croatia to 10 percent, the head of the company's Croatia business said on Friday, adding that the country's energy authorities need to do more to encourage sector investment. State power company HEP dominates Croatia's electricity sector with 85 percent of the market, while RWE commands a 7 percent share of the electricity market and 5 percent in gas.
