The US wants Europe to continue using oil and gas instead of renewable energies
The world's investments in renewable energies aren't paying off and should be focused on securing a reliable supply of fossil fuels. This was the message from U.S. Energy and Interior Secretaries this week, as they tried to convince Europe to purchase more U.S. gas and oil. On the back of U.S. shale gas boom, the U.S. is now Europe's largest oil and natural gas supplier. Its companies…
Official: India's rapid roll-out of renewable energy and the mismatch in demand is driving up electricity costs.
A senior official from the Central Electricity Authority said that India's rapid rollout of renewable energy is straining grid operations, and increasing electricity costs because demand has not kept up with it. In the first half 2025, India's renewable energy output grew at its fastest rate since 2022. In the first half of this year, India achieved 50% of its electricity installed capacity using non-fossil sources. Its target was to add 500 gigawatts of power by 2030.
Sponsored: Policy, AI, and Capital Take Center Stage at ADIPEC 2025
ADIPEC 2025 kicks off in Abu Dhabi with a powerful message from Dr. Sultan Al Jaber for a balanced and inclusive approach to meeting energy demand, built on reinforcement, not replacement. Opening addresses and high-level sessions featuring CEOs and ministers spotlighted the importance of embracing all energy sources, all technologies, and all systems that enhance energy resilience and provide the world with prosperity for all.
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.
Prices rise due to wind and nuclear shortages
The European day-ahead electricity prices rose on Thursday, as supplies of wind and nuclear power tightened. Demand in France, however, was expected to be unusually high, given the lower temperatures, for a Friday. "The lifted residue load underpins a positive signal," said LSEG Analyst Riccardo Paraviero. He was referring to the increasing requirements for thermal capacities. Operators were also ramping up their gas availability to take advantage higher prices.
Uniper buys hydropower in 2026 and 2027 to hedge against future price increases
In its presentation to analysts on Thursday, German utility Uniper said that it had sold large quantities of future hydropower and nuclear outputs as part of its hedge strategy. Uniper said that it had sold 40% of German hydropower for 2026, at an average price per megawatt-hour of 92 euros (107.29 dollars), and 60% in 2027, at a cost of 86 euro/MWh. It was discussing the nine-month earnings and strategy of 2025.
Demand increases and spot prices increase sharply as renewables decline.
The price of European prompt electricity rose on Wednesday as the wind and solar energy generation declined while the colder weather pushed up demand. Riccardo Paraviero, LSEG analyst, said that the future outlook was bullish. The main signal is a significant increase in residual load in Germany. LSEG data shows that the French day-ahead contract rose by 175% compared to its previous close of 55.0 euros (64.14 dollars) per megawatt at 0820 GMT.
The major Gulf exchanges are tracking Asian shares lower due to valuation fears
The Gulf's major stock markets fell on Wednesday morning, following the Asian share market lower after a tech-led selloff overnight on Wall Street brought the focus on stretched valuations. The stock market is retreating after reaching record highs, amid fears that equity markets have become stretched. This comes as CEOs from Wall Street giants Morgan Stanley and Goldman Sachs asked whether such valuations could be sustained.
Pakistan Cancels 21 Eni LNG Cargoes to Curb Excess Imports
Pakistan has struck a deal to cancel 21 liquefied natural gas cargoes under its long-term contract with Italy's Eni as part of a plan to curb excess imports that have flooded its gas network, according to an official document and two sources.The document from state-owned Pakistan LNG Ltd (PLL) to the country's Ministry of Energy dated October 22 said 11 cargoes planned for 2026…
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, as trade tensions escalating threatened to slow down global economic growth and weaken demand for energy.
French spot prices drop on increased wind and nuclear energy supply
The spot price of electricity in France for Tuesday dropped due to an increase in the supply of wind energy and increased nuclear availability. LSEG data shows that the French day-ahead contract at 1040 GMT was 27.50 euros per megawatt at 32.07 dollars, a 40.5% decrease from the price paid on Monday. Data showed that the German equivalent is not traded. According to LSEG analyst Marcus Eriksson…
Wood Mackenzie warns that China's curtailment of renewable energy will present revenue risks over the next decade.
Wood Mackenzie, a consultancy, said that if renewable energy is curtailed to balance China's grid during times of low or high demand it will pose a risk to investor revenues over the next decade. Wood Mackenzie predicts that solar curtailment rates will average over 5% in 21 provinces within the next decade. According to the latest data from the National New Energy Consumption Monitoring and Early Warning Center…
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 to Shut Two Coal-Fired Power Plants
Japan's Electric Power Development (J-Power) said on Friday it will decommission two coal-fired power plants by March 2029 as part of efforts to meet its 2030 goal of cutting carbon dioxide emissions by 46% from 2013 levels.President Hitoshi Kanno also reaffirmed the company's commitment to completing the Oga-Katagami-Akita offshore wind project in northern Akita prefecture under Japan's second-round public auction framework.J-Power…
Fashion brands boost solar energy with textile suppliers
Textile suppliers in Bangladesh, who account for 85% exports of Bangladesh, are under pressure to become more environmentally friendly. They hope that new initiatives will help them find the money they need to expand rooftop systems powered by solar energy. Few energy companies are willing to invest in solar power plants because they fear that smaller factories may default on their commitments.
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 in the northern Akita Prefecture within the framework of Japan's public auction second round.
EUROPE GAS-European gas prices continue to ease on mild and windy weather
The British and Dutch gas contract eased further Friday, after a steep fall the day before, due to forecasts of mild weather and windy conditions in Europe over the next two week. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.19 euros to 30.90 Euro per megawatt hour (10.48/mmBtu) at 1010 GMT. It traded earlier at 30,82 euros/MWh - its lowest intraday price since October 1.
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.
Executives say that Japanese utilities could find a replacement for Sakhalin-2 in the event of LNG supply interruption.
Executives said that Japanese utilities JERA, Tohoku Electric Power Co and Sakhalin-2 can find alternative sources of gas if the flow is interrupted. This comes amid U.S. demands to stop energy imports from Russia. This month, the U.S. urged Japan and other Russian energy consumers to stop imports as they push the Kremlin toward ending the Ukraine war. Japan's contracts with Sakhalin-2, which are long-term agreements, cover 9% of its imports of LNG.
AGL Australia to reduce jobs as part of Clean Energy Push
AGL, Australia's largest energy producer, announced on Friday that it would cut jobs in order to transition towards cleaner energy. It also plans to close its coal-fired plants by the mid-2030s. A spokesperson for AGL said: "We need to make sure that our current business is productive and competitive on this market, while continuing to invest in the business of tomorrow. The Australian newspaper reported that the total number of roles cut could reach 300.