On Monday, the forecast calls for a lower wind demand and an increase in wind supply.
On Friday, European prompt power prices were not traded for Monday due to the expectation of a higher wind power supply in the region as well as lower demand. At 1050 GMT, the German and French baseload electricity contracts for Monday had not been traded. LSEG data indicated that the German wind output is expected to increase by 16.4 gigawatts on Monday, to 28.7 GW. The French wind output should gain 4.6 GW up to 12.8 GW.
Japan's JERA will restart coal-biomass combustion at Taketoyo by 2027
JERA, Japan's largest power generator, announced on Friday that it will restart coal and biofuel co-firing in its Taketoyo Thermal Power Station in central Japan by the end of the fiscal year starting April 2026. This follows a fire. Taketoyo is one of the largest power plants in Japan, with a capacity of 1,070 Megawatts. On Jan. 31 a fire broke out in the station, resulting in the immediate suspension of the plant's operations.
Axpo, a Swiss company, is looking at opportunities in Japan's power and LNG trading
Axpo, a Swiss power producer and trader, is looking at opportunities in Japan's electricity and liquefied gas (LNG), as the changes in Japan's power sector have created a demand for spot LNG and hedging. Japan has set an ambitious target of renewables accounting for 36%-38% of its total electricity mix by 2030. In 2016, the power market was liberalised, leading to a more liquid futures exchange for electricity. Marco Saalfrank is a member of Axpo’s management board.
Greece Aims to Wean Tourist Islands from Fuel Imports
Greece signed a deal with the European Commission and the European Investment Bank (EIB) on Thursday to set up a fund that will help its tourism-reliant islands wean off fossil fuel and reduce power costs, the Greek government said.Greek Prime Minister Kyriakos Mitsotakis met EIB's Chair Nadia Calviño on Thursday. Mitsotakis then attended a ceremony for the signing of the agreement…
New York grid operator warns about undersupply by 2033
The state grid operator warned on Thursday that New York City could face power shortages in summer 2033 due to a growing electricity demand and a decreasing supply of fossil-fired generators. The New York Independent System Operator stated that the trend to shut down power plants more quickly than they can be replaced by clean, new sources of supply, at the same time as electricity demand increases from electrification in buildings and transport…
US natgas manufacturers chase AI-driven surge of power demand to weather low price
Shale gas producers are contacting data-center operators in the U.S. Permian Basin to build up the capacity needed to power an AI boom. They want to relieve the pressure of a two-year-old slump in prices. Devon Energy, Expand Energy Diamondback Energy and Permian Resources highlighted the potential of AI and data centres to drive gas consumption and said that they were in preliminary discussions with many operators.
COP29: Climate agenda clashes with trade demands
At the COP29 Climate Summit, trade tensions are escalating. According to U.N. documents, and negotiators, China, Brazil, and a number of other developing countries have complained that perceived barriers, like the European Union’s carbon border levy will undermine climate efforts. Nearly 200 nations are fighting over the climate talks about a deal that would provide hundreds of millions of dollars per year to help poorer states cope with climate changes.
Fuels and carbon gain from a curve that shows a fall in spot prices
The European spot electricity prices fell on Friday on the back of forecasts that higher wind generation will be occurring and lower demand on Germany's main market. Forward contracts, however, rose in line with gains on fuel and carbon markets. The French baseload for the day ahead fell by 3.4%, to 114 Euros ($120.01 per megawatt-hour (MWh). At 0840 GMT the equivalent German contract had settled at 121 Euros/MWh.
World Bank: Bosnia must invest $6.8 billion to combat climate change impacts
Bosnia and Herzegovina faces risks of flooding, wildfires, and severe air pollution. A World Bank report released on Wednesday said that the country needs to invest 6,8 billion dollars over the next 10 years to offset the effects of climate change. The report stated that climate-related damages, including floods, could shrink Bosnia’s economy by as much as 14% by the year 2050.
MSE Int'l Wins Funding for Port Recharging Project
MSE International has won funding from TRIG 2024 to lead a new project, PRIMET; Port Recharging Infrastructure for Maritime Energy Transition.The project will accelerate the roll-out of port and harbor infrastructure needed to support the rapid expansion in vessel recharging and shore-powering facilities which are essential to realize the government’s Clean Maritime Plan. PRIMET…
Officials say that South Africa has a significant reworking of its long-term energy plan.
Officials said that a reworked long-term South Africa power plan would be soon presented to the cabinet. The plan is designed to put an end to the electricity blackouts which have plagued the country over the past decade. Only in January was the last plan released, which laid out scenarios for power supply up to 2050. The plan included a wide range of energy sources, including nuclear, renewables, and natural gas.
President says Indonesia can achieve net zero emission before 2050
Indonesian President Prabowo Subianto told the G20 that he is confident it will reach zero net emissions by 2050, 10 years earlier than originally planned. According to a Wednesday statement released by his office, Prabowo said Indonesia also planned to retire coal and fossil fuel-fired electricity plants within the next fifteen years. This is compared to an earlier target date of 2056.
Grid operator PJM faces a new complaint regarding power supply
Consumer advocacy group filed a complaint with PJM Interconnection. They claim that the U.S.'s largest grid operator unfairly awards record-high payments to power plants, driving up electricity prices for households and businesses. The Federal Energy Regulatory Commission received a complaint on Monday, the second in recent times regarding PJM Interconnection’s capacity market auction for 2025-2026.
TC Energy expects higher core profit in 2025 on natgas and electricity demand
TC Energy announced on Tuesday that it expects its core profit in 2025 to be between C$10.7 and C$10.9 Billion, higher than the C$9.9 to C$10.1 Billion forecast for 2024. This is due to an increase in demand for electricity and natural gas. In its most recent short-term energy outlook report, the U.S. Energy Information Administration predicted that gas consumption in the United States would reach a new record of 90 billion cubic feet (bcfd), in 2024.
German spot price rises due to lower wind supply
On Monday, the German spot electricity price increased as it was expected that wind and solar production would fall on Tuesday while demand is expected to rise. By 0901 GMT on Tuesday, the German baseload electricity price was 123 euros per megawatt-hour (MWh), up 36.9% compared to Friday's price for Monday delivery. LSEG data revealed that the equivalent French contract was 91 euros/MWh. The Friday contract for Monday was not traded.
Chris Wright, CEO of the oil industry, is appointed Energy Secretary by Trump
Donald Trump, the President-elect, announced on Saturday that Chris Wright, an oil and gas executive who is a staunch supporter of fossil fuels, will be his choice to lead the Department of Energy. Wright is the founder of Liberty Energy in Denver, a firm that provides oilfield services. He will likely support Trump's plans to increase oil and gas production and seek ways to increase electricity generation, which is on the rise for the first decade.
German Monday contracts are affected by the increase in wind power supply
German spot electricity prices for Monday dropped on Friday, as the wind generation in that region is expected to be higher than usual next week. However, power demand will also rise. LSEG data shows that the German contract price was 90 euros per Megawatt-hour (MWh), down 26.8% compared to the price paid on Friday. LSEG data revealed that the equivalent French contract was not traded.
TotalEnergies and BP, Equinor, and Shell each commit $500 mln for energy access
TotalEnergies BP Shell Equinor, oil and gas giants BP and Equinor, pledged to invest $500m on Friday in order to increase the availability of affordable energy, primarily for sub-Saharan Africa and south and southeast Asia. The announcement was made at the United Nations COP29 Climate Summit in Azerbaijan where discussions have focused on raising $1 Trillion in climate finance to assist developing countries from richer nations.
Orban: EU sanctions against Russia must be rethought to reduce energy costs
Hungarian Prime Minster Viktor Orban stated on Friday that the European Union should reconsider its sanctions against Russia, as they keep energy prices high and hinder the bloc's competitiveness. At their informal summit held last week, the leaders of the European Union signed a statement on competitiveness. "Energy costs must be reduced by any means necessary." In order to lower energy prices, the sanctions must be re-evaluated. Orban stated that U.S.
South Asia's solar power push is facing a land battle
Food and jobs are at risk when cropland and pastures are taken away. By BhaskerTripathi and Md. Modhera’s 6 megawatts (MW) of solar power and battery storage system were built in 2022, despite the opposition of local farmers who had filed a lawsuit in the highest court for the state in 2020 to stop its construction. According to the research group Land Conflict Watch, it is one of 25 land conflicts in India that are linked to renewable energies.
