Cold weather increases prompt prices due to a fall in renewable supplies
The European spot electricity prices increased on Wednesday, as the cold weather prompted demand for heating and illumination and a fall in solar and wind power production was expected. The Atlantic coast of Europe was hit by the first named storm of the year, causing more snow and ice to fall. LSEG data and that of the French utility EDF indicated that Germany would be importing electricity on a day-to-day basis, but France's wind and nuclear power would increase.
Sunrise Wind, Orsted, challenges US suspension of wind lease
Denmark's Orsted said on Wednesday that its unit Sunrise Wind will challenge the U.S. Government's 'decision' last month to suspend their offshore wind project lease, and seek a court order. On December 22, the U.S. East Coast announced that it had leased five large offshore wind projects currently under construction. Orsted stated that the Sunrise Wind Project was?about 45%complete.
What is the current status of international oil firms in Venezuela following Maduro’s capture?
Here are some key facts about the international oil companies operating in Venezuela. The country, which has the largest oil reserves in the world, is now in crisis following the capture of the President Nicolas Maduro. Former President Hugo Chavez expropriated?assets?from foreign oil companies in the 2000s. This strengthened the state-owned PDVSA control over the oilfields of the country.
Wind power surge cuts spot prices but frost-related demands lend support
The European prompt power price fell on Tuesday, ahead of a near-tripling of German wind power expected on Wednesday and a more-than-doubling of French wind energy volumes. However, the prices remained relatively high as icy weather?supported?demand. The LSEG analyst Naser Hazemi wrote that "higher wind energy generation leads to a lower residual load on several markets, including Germany." He was referring to fewer thermal plant requirements.
Vistra buys Cogentrix Energy for $4.7 billion amid rising power demand
Utility Vistra announced on Monday that it has agreed to purchase Cogentrix Energy from Quantum Capital Group for $4.7 billion. The company is looking to meet the growing demand for power. The shares of the company increased by nearly 5% during extended trading. The Texas-based electricity company said that the deal included $2.3 billion cash, $900 millions in Vistra shares and $1.5 billion of debt. Tax benefits are expected to offset some of this amount.
Explainer: Status of Foreign Oil Companies in Venezuela After Maduro’s Arrest
Here are some key facts about the international oil companies operating in Venezuela. The country, which has the largest oil reserves in the world, is now in crisis following the capture of the President Nicolas Maduro.Hugo Chavez, the former president, expropriated foreign oil companies' assets in the 2000s. This strengthened the state-owned PDVSA?control over Venezuela's oilfields.
German spot prices rise as output of renewable energy falls
German day-ahead electricity prices increased on Monday, as the expected decrease in renewables generation offset an anticipated decline in demand. LSEG data shows that German baseload day-ahead was up?38.9% to?123 Euros ($143.70 per megawatt hour) at 0944 GMT. Data showed that the equivalent French price had risen by 35.2%, to 121 Euros. Naser Hashemi of LSEG, a LSEG analyst, predicted that residual load in Germany will be almost 10 GWh/h more than the previous day…
Japan's Osaka Gas begins unit at new 1,25-GW gas fired power plant in Himeji
Osaka Gas said that it had started commercial operations at its new 1,25-gigawatt, gas-fired power station in Himeji, Western Japan, on Jan. The company that also provides electricity said the plant consists of two 622.6 megawatt units. The No.2 unit is expected to start operations in May. According to a statement from the company, this facility uses natural gas as fuel and a high-efficiency gas-turbine combined-cycle system for power generation.
Prices on Monday will rise due to higher demand and reduced wind energy generation
The European day-ahead electricity prices will likely rise on Monday due to a?increased consumption and a sharp decline in?wind energy generation. LSEG data shows that the German and French 'Monday' baseload power contracts had not been traded by 8:27 GMT on Friday. LSEG data showed that German wind power production is expected to fall by 35.9 gigawatts to 14.2 GW on Monday. Meanwhile, French wind power is expected to?fall by 4 GW and 3.4 GW.
Russell: Commodities battered by Trump's whirlwind will find relief in 2026.
The whirlwind tariffs and policies of U.S. president Donald Trump will continue to impact commodities for some time. While the storm may subside in 2026 the ripples are likely to last. Trump's attempts to remake global trade, and his changing geopolitical moves have increased volatility in the commodity markets. Prices are now driven more by headlines than fundamentals. The Trump administration may calm down its tariff wars…
French electricity prices drop as wind power increases
On Monday morning, the French spot day-ahead power price fell on expectations of increased wind power production. In Germany, however, prices are rising due to less wind output. LSEG data shows that the French baseload day-ahead power price was 85.50 Euros per megawatt 'hour' at 0954 GMT. The spot auction for French baseload power on Monday settled at 94.47 euro/MWh. According to LSEG, the German day-ahead contracts had not yet traded.
EUROPE GAS: Cold spell pushes Dutch benchmark contract up by one month
Dutch and British gas rates rose on Monday, the European benchmark contract reaching a one-month high after the holidays, due to strong demand due to the cold weather. LSEG data shows that the benchmark Dutch front-month contract for?the?? hub at a price of 28.38 euros per Megawatt Hour (MWh) or $9.80/mmBtu was up by 0.28 euros as of 0857 GMT. On Monday morning it traded up to 28,67 euros/MWh, its highest price since November 28.
Ministry says that the technical problem at Iraq's Khor Mor Gas Field is causing a drop in power supply to Kurdistan.
The Kurdish Ministry of Electricity announced on Thursday that the electricity supply in Kurdistan had dropped by 1,000 megawatts because of a "technical problem" at the Khor Mor gas fields, one of the largest in the Kurdish Region. The ministry of electricity stated that the Ministry of Natural Resources and the UAE's Dana Gas team, who?jointly operated the field?, are working to restore stability.
Engineers say that Iraq's gas supply from Iran, which was halted for a while, is expected to resume within a week.
An?engineer from the?electricity ministry said on Wednesday that Iraq's gas supply from Iran should resume within a few days. The electricity ministry announced on Tuesday that gas flow from Iran has been stopped due to the shutting down of some generators and the reduction of load in others. As a result, the ministry reported that between 4,000 and 4,500 megawatts have been lost in?the electric system.
Japan tightens regulations on mega-solar project to protect landscape and nature
Officials from the Japanese government have announced that they will tighten regulations, and stop financial support for large-scale projects of solar energy to protect the?environment and preserve landscapes. This is part of the package of countermeasures against mega-scale solar farms that was endorsed by the Japanese government on Tuesday. It also aligns with Prime Minster Takaichi, who has called for limits to large solar projects.
US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts for more demand than previously expected over the next two weeks.Front-month gas futures for January delivery on the New York Mercantile Exchange rose 15.3 cents, or 4%, at $4.105 per million British thermal units by 08:59 AM ET. Priced ended 0.5% lower on Monday.
Spot prices fall on the back of low demand before holidays
European prompt electricity prices fell on Tuesday due to a combination of?rising renewables output, high French nuclear power supply and weak consumption before Christmas holidays. In a research report, Riccardo Paraviero, LSEG's analyst, said that the outlook for tomorrow is "undoubtedly" bearish due to a significant drop in demand as compared with the previous week. LSEG data…
Japan will provide $1.3 billion of investment subsidies to clean-energy users
A government official announced late on Monday that Japan will provide 210 billion Japanese yen (1,34 billion dollars) to companies using clean energy to fund their investments. The goal is to increase demand for renewable energies and stimulate?growth throughout the region. The subsidies will help to reduce the country's reliance on fossil fuels and reach its clean energy goals.
FEATURE-AI data explosion in Mexico fuels rise of dirty energy
The country's power infrastructure is overloaded and pollution has increased due to the shortfall in green power, despite promises by government and industry to increase capacity. The data centers are huge warehouses that are the size of Olympic stadiums. They sprawl over industrial parks and house hundreds of servers, which consume a lot of energy. These servers power the most powerful technology companies, like Microsoft, Google, and Amazon.
AI data explosion in Mexico fuels growth in dirty energy
The lack of green power, despite promises by government and industry to increase capacity, has overloaded and increased local pollution. Masheika Allgood is the founder of AllAI Consulting. She provides information on data center environmental impacts. The data centers are huge warehouses that are the size of Olympic stadiums. They sprawl over industrial parks and house hundreds of servers, which consume a lot of energy.