Uniper buys German hydropower to hedge against future price increases
The German utility Uniper said that it has sold large quantities of future hydropower production as part of an hedging strategy. Uniper sold 75% (134.86 euros) of its German hydropower production for 2025 and 30% (2026) at an 88 euro/MWh average, according to a presentation…
US Governors push back against PJM following record-high prices for power plants
Five governors urged PJM Interconnection on Tuesday to change its process for determining the price of power plants, after the auction that saw record prices. Prices in the most recent PJM auction were almost 10 times higher than last year. This was largely due to a shrinking…
The Colombian Ministry of Energy says nine companies are interested in the offshore wind project
The Colombian energy ministry announced on Tuesday that seven foreign companies and two local ones had expressed interest in a project to build offshore wind farms and expected to receive formal bids by the first half of 2025. According to the ministry, these companies include Colombian state oil company Ecopetrol…
Prices for EUROPE GAS remain stable despite cooler temperatures and Middle East anxieties
The Dutch and British wholesale prices of gas rose slightly on Thursday morning, as demand increased due to the colder weather and reduced wind. However, the range remained tight as the market continued to monitor the developments in the Middle East. LSEG data show that…
New Industry Minister: Japan will keep nuclear but boost renewables as part of its energy mix
Japan will continue to restart nuclear power plants safely and use as much renewable electricity as possible, said Industry Minister Yojimuto on Wednesday. This indicates that the policy of newly appointed Prime Minister ShigeruIshiba is not likely to change significantly.
Octopus Energy invests 2 billion stg into UK clean energy
Octopus Energy, a UK-based power company, announced on Thursday that it will invest 2,7 billion pounds (2 billion dollars) in British clean energy initiatives by 2030. The plan was announced as the company finalised its acquisition of four solar farms in England, which have a combined power of 222 Megawatts.
Gas prices in Europe are correct after a 3-week high
Dutch and British wholesale prices of gas fell on Thursday amid forecasts for more wind energy generation. This was a correction from the three-week high that they had reached earlier in the day due to supply concerns. LSEG data shows that the benchmark front-month contract…
Drax will invest up to $12 billion in US biofuel power plants
Drax, a British power generator, said that it could invest up $12.5 billion in developing biomass plants with Carbon Capture and Storage (BECCS), in the United States within the next decade.Drax, the company that generates around 6 percent of Britain's electric power, has said it will remain committed to the UK…
Exagen, a British firm that specializes in solar energy and battery storage, has been acquired by Octopus
Octopus Energy Generation acquired Exagen Group, a developer of solar and battery storage systems. This acquisition will allow the company to increase its renewable energy pipeline. Exagen is a developer of utility-scale renewable and energy storage projects. It announced…
Prices of EUROPE GAS soften on stronger winds and Norwegian supply
The Dutch and British wholesale prices of gas have weakened slightly Tuesday morning due to forecasts of increased wind generation and Norwegian supply. However, colder weather could still increase prices. LSEG data revealed that the benchmark contract for the Dutch TTF…
Russell: China's coal consumption and output is increasing, while renewable energy surges.
China's thermal energy generation grew in August, the first time it has done so in four months. However, it is still behind the overall increase in electricity production as renewables continue to grow. According to data released by the government on September 14, electricity…
Russell: China's coal consumption and output is increasing, while renewables are on the rise.
China's thermal energy generation grew in August, the first time it has done so in four months. However, it is still behind the overall increase in electricity production as renewables continue to grow. According to data released by the government on September 14, electricity…
The rising renewable generation has an impact on spot prices
The European spot electricity prices dropped on Monday, as German wind and Solar power supplies are expected to increase on Tuesday. By 0938 GMT on Tuesday, the German baseload electricity price was 86.75 Euros per megawatt-hour (MWh), down 16.2% compared to Friday's price for Monday delivery.
China's thermal energy output grows in August
The statistics bureau reported on Saturday that China's thermal energy generation rose in August compared to a year ago, as the growth of hydropower output moderated. This reversed a trend of decreasing thermal power production for three months. The National Bureau of…
Lower renewables output lifts spot prices
German renewable energy generation is expected to fall on Wednesday. Marcus Eriksson, LSEG analyst, says that residual load will increase in Germany Wednesday. Exports are expected to peak at mid-morning, and imports afterward. LSEG data show that German baseload day-ahead power jumped 48.3%…
Spot prices are at a multi-month high on a drop in supply and rising demand
European spot electricity prices reached multi-month highs Monday, driven by a decline in regional wind power and an expected increase in demand. By 8:10 AM GMT, the price of German baseload electricity for Tuesday had risen by 24.8% compared to Friday's price for Monday's delivery.
Meta Platforms signs geothermal energy agreement with Sage Geosystems for US data centers
Meta Platforms, the owner of Facebook, announced on August 26 that it had struck a deal with Sage Geosystems for up to 150MW of geothermal energy to power its U.S. Data Centers. The company is racing to develop infrastructure to support massive investments in artificial intelligence, which consumes a lot of energy.
New Zealand passes law to reverse oil and gas exploration ban
New Zealand announced on Monday that it will pass laws before the end of the year to reverse an offshore oil and natural gas exploration ban and to take urgent steps to eliminate regulatory hurdles for importing liquefied gas (LNG), amid energy shortages. The right-of…
China's coal production rises, but the share of electricity falls: Russell
China's coal production is increasing while its share in electricity generation is decreasing. This apparent contradiction will result in a lower volume of imports and lower prices. The National Bureau of Statistics released data on August 15 showing that the coal output in July was 2.8% higher than the same month one year ago…
The spot prices of French nuclear and renewable energy are falling sharply
European power prices dropped sharply on Monday as France's nuclear fleet saw its capacity increase by six percentage points and due to expectations that wind and solar energy generation in the region would be higher. Marcus Eriksson of LSEG, an analyst at the company…
