Prices to rise on Monday due to wind power
European electricity prices will likely fall dramatically on Monday as wind power production is expected to increase in Germany and other parts of the region. LSEG data revealed that German -and French Monday baseload electricity contracts were not traded by?0859 GMT Friday. LSEG data shows that German wind power production is expected to increase by 12.3 gigawatts on Monday to 21.1 GW.
UK consumers face higher energy bills after regulator approves $37 billion grid upgrade
The British Energy Regulator has approved an investment of 28 billion pounds ($37.33 billion), over the next five-years, to ensure that the energy system is reliable and safe in the future. This is part of a plan to upgrade the energy system which will increase consumer bills by 108 pounds per year. The investment exceeds…
Energy operator warns of emerging risks to UK gas supply as demand declines slowly
The energy operator in Britain warned on Wednesday of possible shortages during the coldest months. In its first assessment of gas supply security since being established last January, the National Energy System Operator stated that while overall demand for gas will decrease as Britain decarbonises it will be slower at peak times.
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux. The…
EU injects new money into Ukraine for Naftogaz
The top European development banks and Ukrainian Naftogaz energy company signed a deal Thursday that will provide hundreds of millions to ensure Ukraine's gas supply in the face of ongoing Russian attacks on its infrastructure. The war with Russia has impacted the energy system of Ukraine, causing a rise in gas imports.
Ukraine Increases US LNG Imports via Poland for Winter
Ukrainian state oil and gas firm Naftogaz said on Friday it was increasing imports of U.S. liquefied natural gas through Polish firm Orlen and U.S. partners to ensure supplies for the winter amid continuing Russian strikes on the energy system.In a statement, CEO Serhiy Koretskyi said the imports would total at least 300…
Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC
Global finance leaders discuss the new era of energy investment defined by pragmatism, diversification and strategic capital allocation Industry leaders urge fundamentals-based planning amid global volatility, with stable, sound and clear policy frameworks identified as key investment landscape criteria Liquefied natural gas…
Sponsored: Energy Sector Urged to Scale AI Adoption at ADIPEC
Day two's theme 'The Technology Leap: Redefining Energy Leadership' underscored how strategic AI adoption and digital innovation are reshaping energy leadership, with industry voices calling for coordinated investment to unlock transformation at speed and scale Experts debated AI’s role in boosting efficiency, enhancing…
Greece signs long-term LNG supply agreement with US
Greece signed a 20-year deal to import 0.7 bcm of liquefied gas each year, starting in 2030. This is its first long term gas supply agreement with the United States. The deal aims to replace Russian gas shipments into Europe. The 20-year agreement comes just months after Trump's administration and the European Union inked a trade agreement in July. Europe pledged to purchase $250 billion of U.S.
Bill Gates-backed TerraPower seeks UK approval for nuclear reactor design
TerraPower, founded by Bill Gates and a nuclear innovation firm, submitted its first design of a new reactor type, as well as an energy storage system, to the British regulatory authorities for approval. TerraPower stated that the application to the UK Generic Design Assessment process (GDA) marks the first regulatory steps towards the deployment of its Natrium technology on a global marketplace.
Grid operators claim that the UK's winter energy is secure, despite lower gas margins.
In their winter outlooks, the electricity and gas grid operators in Britain expect that there will be enough energy this winter despite tighter margins for gas due to declining production at home. National Gas and Britain's National Energy System Operator publish annual reports on the supply and demand of gas and electricity…
Maguire: Italy's economic troubles have an upside for the moment, a positive climate.
The persistent economic crisis in Italy has led to the lowest emissions in its power sector for decades. Climate activists need to be aware that economic measures could cause a rapid U-turn on pollution trends. Italy has been experiencing economic stagnation for over a decade. This has resulted in a steady decline of goods produced and exported, and lowered power consumption among many businesses.
Maguire: Italy's economic troubles have an upside for the moment, a positive climate.
The persistent economic crisis in Italy has led to the lowest emissions in its power sector for decades. Climate activists need to be aware that economic measures could cause a rapid U-turn on pollution trends. Italy has been experiencing economic stagnation for over a decade. This has resulted in a steady decline of goods produced and exported, and lowered power consumption among many businesses.
Malaysia's Petronas announces a'strategic transform' after H1 profits fall
Petroliam Nasional Bhd, the Malaysian state-owned energy company (Petronas), announced on Friday it had undergone a "strategic transform" to address operational challenges following lower profits and revenue for the first six months of the year. Petronas reported a profit of 26.2 billion ringgits ($6.2 billion) for the six-month period ending June 30.
Pulse Clean Energy, a startup company in the UK, receives 220 million pounds to build batteries across the UK
The British startup Pulse clean energy announced that it has secured 220 millions pounds ($292.3) in funding from six international bank to fund the development six new battery system sites throughout the UK. In a Monday statement, it did not specify the locations of the sites, but stated that they were "strategically situated across the UK, including Scotland, Devon and Greater Manchester".
UK rejects zonal energy pricing
The British government is not moving to a zoned system of wholesale energy prices, but will instead try to gain greater control over the planning process in order to determine where to build clean energy infrastructure. The UK, with some of the world's highest electricity prices, struggles to find a way to build wind and solar farms, as well as transport them to the various parts of the country.
Germany examines energy system to lower costs
Katherina Reiche, Germany's Economy Minister, said that the government would analyze Germany's energy consumption and supply in order to reduce costs and integrate more gas production. The impact of energy prices on the economy, industrial competitiveness and the environment were some of the top issues at the federal election in February.
MOL and Turkiye Petrolleri form a joint venture to explore two oilfields in Hungary
Hungarian Oil Company MOL and Turkey’s Turkiye Petrolleri will explore two new oilfields in Hungary, as part of a newly-established joint venture. Szijjarto, after meeting with Turkish Energy Minister Alparslan bayraktar, said that efficient production on new fields could help Hungary cover some of its consumption needs.
Octopus Energy, a British company, has bought a stake in the East Anglia One windfarm
Octopus Energy, a British company, announced on Thursday that its Octopus Energy Generation division had purchased a 10% share in the East Anglia One Wind Farm, which is one of the largest operating wind farms in the world, supplying electricity to around 700,000 households a year. The unit's fourth investment in an offshore wind farm in Britain and seventh in Europe…
German energy transition could cost 300 billion euros less with greater efficiency, according to a study
According to a report released by the Boston Consulting Group on Thursday, Germany could save over 300 billion euros (326.49 billion dollars) by 2035 if it implements the energy transition in a more efficient manner. Germany will spend hundreds of millions of euros in the next few years to transition towards cleaner energy sources, with a goal of being carbon neutral by 2045.