SSE Partners to Invest in Scottish Subsea Cable Upgrade
British power firm SSE said on Tuesday its electricity distribution unit has selected five contract partners for an investment up to 950 million pounds ($1.28 billion) to upgrade subsea electricity network connecting Scotland's island communities.SSEN Distribution said the agreements with Briggs Marine, DOF Subsea UK, N-Sea, Enshore Subsea and Jan De Nul will run for an initial five-year period, with an option to extend for three more years.($1 = 0.7398 pounds)(Reuters)
EDF's costs are higher due to oversupply of electricity
EDF, the French nuclear operator, said that it would have to increase its maintenance costs by around 1.5 million euros to 3.75 millions euros per year because it has to reduce power in 'its nuclear reactors' to a'respond to an increased electricity supply and a slow demand. Around 70% of French power comes from nuclear energy, which accounts for about half of the state-owned EDF revenue.
As gas prices fall, forward-curve contracts also fall.
Early trading on Monday saw European forward-curve electricity contracts fall, following lower benchmark gas contracts. At 0952 GMT the German baseload price was down 1.9% to 76.95 Euros per Megawatt-hour, while in France it fell 1% to 50.10 Euros/MWh. The benchmark contract on the European carbon market rose by 0.4%, to 70.99 Euros per metric ton. Dutch and British wholesale contracts for gas fell on Monday…
Contact Energy, NZ to raise $317 Million to fund renewable energy projects
New Zealand's Contact Energy announced on Monday that it will raise NZ$525m ($317m) in new equity to fund an array of renewable energy projects. The company is accelerating its growth as part of its long-term, "Contact31+" strategic plan. Contact stated in a press release that the fundraise included a fully-underwritten NZ$450,000,000 institutional placement as well as a non underwritten retail offer?of up NZ$75,000,000.
Modi's rooftop Solar push is slowed down by unwilling lenders, states
Vendors and analysts claim that despite the heavy subsidies, I ndian Prime Minister Narendra Modi is not able to achieve his targets due to loan delays and limited state support. These shortfalls are the latest "challenge" to India's efforts at nearly doubling clean energy capacity by 2030 to 500 gigawatts. The government is planning to suspend the clean energy tendering target amid an increasing backlog of projects that have been awarded but not yet built.
Triso-X can use HALEU uranium to make reactor fuel
The U.S. Nuclear?power regulator announced on?Friday that it had issued a license to?Triso X for the use of a more-enriched uranium, known as HALEU, for making a fuel for high-tech commercial nuclear reactors. Triso-X is a subsidiary company of X-energy and plans to manufacture TRISO fuel in Oak Ridge Tennessee. This fuel contains uranium that has been coated with hard ceramics and carbon layers. Ho K.
TC Energy exceeds profit expectations as natural gas and power demand increases
Canadian 'pipeline operator TC Energy' beat analysts' expectations for the fourth quarter?profit % on Friday. This was helped by record natural-gas flows across its North American networks as soaring demand for power from data centers boosted volume. Major pipeline operators are doubling down on expectations of rising natural gas demand as LNG export facilities expand, and cryptocurrency miners and artificial-intelligence ?systems ramp up electricity use.
EEX invites comments on the extension of trading hours for benchmark gas contracts
The CEO of Deutsche Boerse's EEX (Europe's largest electricity and gas 'exchange) said that the company is currently in discussions with market participants about whether to extend trading hours on Europe's main gas benchmark. EEX - peer Intercontinental Exchange - announced last month that it would extend the daily trading hours of European gas and electricity contracts from 0800 CET until 1800 CET on April 13 to 0150 CET (2300 CET) (0050 GMT-2200 GMT).
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed a crucial energy transition threshold by installing more clean power than fossil fuel production capacity for the first. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean energy generation capacity operating in 2025. This compares to 1,420 GW?of fossil fuel-fueled capacity. China now draws 51% of its energy from clean sources…
France plans to increase decarbonised electricity production by 20% in a decade and encourage demand
The French government will aim to increase electricity production by nuclear and renewables in the next decade. They are also planning to publish an electrification strategy to encourage the shift away from fossil fuels. Lescure, in response to questions regarding the newly-published energy planning law (PPE), said that he would be meeting with leaders of the industry to discuss…
Maguire: Maguire, China's renewables boom has boosted it to a rare clean-capacity club.
In 2025, the world's largest polluter will have crossed an important energy transition threshold by installing more clean power generation capacity than fossil fuel generation capacity. Global Energy Monitor data shows that China will have 1,494 gigawatts (GW) of clean power generation in operation by 2025. This compares to the?1,420-GW capacity powered by coal, gas, and other fossil fuels. China has now a 51% share of its energy fleet that is derived from clean sources.
Trump ends US vehicle emission standards, revokes climate regulations
On Thursday, the administration of President Donald Trump announced that it had repealed a scientific conclusion that greenhouse gasses endanger human life and removed federal tailpipe emission standards for cars and trucks. The administration has rolled back its climate change policies in the most dramatic way possible, following a series of regulatory changes and other actions designed to promote fossil fuels and to impede the development of "clean energy".
France's new Energy Law slashes Renewable Targets, Eases Pressure on EDF
After years of debate, France has finally passed a new law on energy that reduces its "wind and solar" targets and removes the mandate for EDF (the state-owned firm) to shut down nuclear plants. We need to stop the internal family fighting. "We need both renewables and nuclear," said Roland Lescure, finance minister. After almost three years, the law will be passed by decree after bitter debate among legislators.
Minister: Warming weather helps reduce Ukraine's energy shortage
Denys Shmyhal, Ukraine's Energy Minister, said that the warming weather after the ice-breaking frosts in Ukraine has?significantly?reduced a power shortage caused by Russian attacks on?Ukrainian?power?grids. Shmyhal told the parliament's Energy Committee that the current power shortage totaled 4.3 to 4.5 Gigawatts compared to up to 6 Gigawatts during a colder spell, Interfax Ukraine reported. As of today, February 12, the forecast maximum consumption is 16,4 gigawatts.
Spanish grid blackout risks remain, Endesa CEO says
The widespread 'blackout' that affected Spain and Portugal last year could be repeated under similar circumstances, according to the CEO of Endesa, who blamed the Spanish grid operator REE, for the outage. On April 28, last year, Europe's biggest blackout in over two decades paralyzed cities and left passengers stranded aboard trains throughout Portugal and Spain. After the outage, grid operators increased the use of stable power generation, such as?gas plants.
Carbon weighs down on prices for the front year but spot prices are up because of less wind
German and French spot electricity prices rose Thursday morning, amid predictions of a?lower wind power generation. Meanwhile, a steep?drop in the European Carbon Market weighed on long-term prices. The French 'day-ahead' baseload power contract rose by 39.70 euros, to?54.25 euros per megawatt (MWh), at 1007 GMT. Meanwhile, the German contract had risen 3.50 euros, to 107 euros/MWh.
Australia's Origin Energy raises earnings forecast for energy markets, shares rise 8%
Australia's Origin Energy increased its full-year earning?outlook? for its energy retail division, citing higher electricity margins that helped the firm exceed market expectations. The shares of the electricity retailer and gas retailer jumped 8.1% intraday to A$11.970. This was their largest intraday percentage increase in almost three years. The slow rollout of solar and wind on both coasts…
Energy secretary warns against legitimacy of Chinese deals
Chris Wright, the U.S. secretary of energy, urged on Wednesday that the U.S. invest more in Venezuela during the most high-level visit to the U.S. focused on energy policies in almost three decades. Wright also warned about the legitimacy of Chinese companies in the OPEC nation. Wright stated that the U.S. After a meeting with the Interim President, Delcy Rodriquez, at the Miraflores Presidential Palace in Caracas, the U.S.
Prices are down due to milder weather
On Wednesday morning, the benchmark European baseload electricity prices were mostly lower amid milder weather conditions. LSEG data show that the German baseload price for the year ahead was down 1.6 euros to 81.70 euros/MWh. The French equivalent fell by 0.88 euros to 48.32 euro/MWh at 0939 GMT. The German baseload electricity for the next day fell by 10.05 euros to 102.95 Euros/MWh. The EU carbon price and gas have also fallen amid milder forecasts.
Norway Wealth Fund seeks investment in battery storage as the market matures
Norway's sovereign fund announced on Wednesday that it hopes to make its initial investments in battery storage systems. This reflects the increasing importance of batteries for stabilising increasingly intermittent electricity markets. Since 2021, the $2.2 trillion sovereign fund, 'the largest in the world,' has invested in renewable energy infrastructure that is not listed, with a focus on offshore wind farms…