Alstom's 3rd-quarter sales in France top the forecasts for services growth
Alstom, a French train manufacturer, reported Tuesday that its third-quarter sales were higher than expected. This was due to double-digit growth in revenue for the divisions of systems and services. Alstom, a manufacturer of trains and signalling for urban and regional railway networks, has reported sales of 4,67 billion euros (4,86 billion dollars) in the third quarter ended Dec. 31. Visible Alpha consensus said that analysts had expected an average of 4.49 billion euro.
European firms exposed as Trump targets US offshore wind
U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.Former President Joe Biden supported the offshore wind industry, setting a target for 30 gigawatts (GW) of projects by 2030, up from 42 megawatts at the end of 2023, prompting many European…
Portugal imports more US and Nigerian LNG in order to stop Russian supplies
The Portuguese government plans to buy more liquefied gas (LNG), mainly from the United States, and Nigeria to replace its already diminishing Russian supplies. This was announced by Environment Minister Maria da Graca Carvalho on Tuesday. Data from the electricity and gas grid operator REN show that Portugal will import 49,141 gigawatt hours (GWh) in 2024. Of this, 96% is LNG. About 40% of these LNG deliveries came from the United States, and about 4.4% from Russia.
Sources say that Kretinsky EPH is among the suitors who have approached Uniper about its EPH.
Three people with knowledge of the matter claim that Berlin has approached Daniel Kretinsky, a Czech billionaire, about buying German state-owned utility Uniper. Sources said that other funds approached included the New York-based fund Brookfield and Equinor, a Norwegian company. One source, who declined to identify themselves because the talks were confidential, said that the Czech energy holding company EPH is "participating in the process". Both EPH and Uniper declined to comment.
Spot prices drop on higher expected wind generation
The European power prices for the next day were lower than on Monday, as a result of a slight decline in wind energy supply. This was partially offset by an increase in electricity demand. LSEG data shows that the price of German baseload electricity for Tuesday at 0933 GMT was 169.75 Euros per Megawatt Hour (MWh), down 2% compared to Friday's Monday price. The French day-ahead electricity was at 156.25 Euros/MWh. On Friday, the Monday contract was not traded.
Portugal is keen to create an offshore wind cluster that could reach up to 10 gigawatts
Portugal's Government said on Friday that it is keen to create a cluster wind farms off the coast of its Atlantic Ocean. The total power of these wind farms could reach around 10 gigawatts. Lisbon approved last week four areas where offshore wind farms could be installed. This is a big step towards the launch of the first offshore license auction that it plans to conduct this year. The plan, which was drawn up by the Economy Ministry in coordination with Environment Ministry…
German wind supplies are down, prompting a drop in prices.
The European power prices for the following Monday were not traded on Friday due to the expected decline in wind power supplies in Germany and declining demand. LSEG data shows that the German and French baseload contracts for Monday were not traded as of 1102 GMT. LSEG data indicated that the German wind power production was expected Monday to drop by 4 gigawatts to 4.8 GW. The French wind output, however, was expected to increase 460 megawatts to 1.5 GW.
Financial Times - Jan 17
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Owners of France's Natixis Investment Managers, and Italian insurer Generali, are nearing an announcement of an agreement for a joint venture in asset management that will bring together the two biggest European names. France's Bureau Veritas has ended merger talks…
Spot prices dip on more solar power, lower demand
European prompt electricity prices fell on Thursday, as a combination of a growing solar supply and lowered demand was expected to offset a decline in wind supply. As of 1018 GMT, the German baseload electricity for Friday fell 4.4% to 147.75 Euro per Megawatt Hour (MWh). The French baseload for the day ahead was down by 0.9% to 140.75 Euros. LSEG data shows that the German wind output will fall by 1.9 gigawatts to 8.7 GW this Friday. In France, it is predicted to drop 2.8 GW down to 1 GW.
As demand falls and supply increases, prompt prices will fall.
The European spot electricity prices dropped on Wednesday, as the demand for power in Europe declined while wind and nuclear power increased. LSEG data revealed that French consumption would fall as temperatures rise in a country which relies heavily on electric heating during winter. By 1100 GMT, the French baseload for Thursday had fallen 8.3% to 141.30 Euros ($145.62). In Germany, baseload for Friday was down almost 33% at 154.50 Euros.
Octopus Energy purchases OX2’s French solar unit in order to accelerate development
Octopus Energy, a British company, acquired the French division of OX2, a Swedish firm that builds solar power plants in agricultural areas. Octopus plans to retain its French team and expand the solar portfolio currently under development. France has lagged behind other European countries when it comes to building solar farms in recent years. Recent turmoil in the government has also delayed the implementation of a comprehensive energy plan, which could have streamlined the process.
Prices of Euro GAS are falling due to profit-taking
On Tuesday morning, Dutch and British wholesale prices for gas fell slightly after a rise of around 7% the previous day. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 0.40 euros at 47.85 Euros per Megawatt Hour (MWh), which is $14.38 /mmbtu by 0923 GMT. The Dutch March contract is down by 0.98 Euros at 47.62 euro/MWh. The day-ahead contract in Britain fell by 1,03 pence, to 122 pence/therm.
Spots at one-month's highs on German solar, wind downturn
The European prompt electricity prices on Tuesday rose to their highest level for four weeks, mainly due to the expected sharp drop in German green energy output and temperatures below zero. Tomorrow, the German wind power supply will decrease dramatically. "With increasing demand and decreasing output of solar power, this leaves a high residual load that must be covered by conventional resources," said LSEG Analyst Guro Marie Wyller.
German spot increases as French spot drops
Early on Wednesday, European power prices were mixed. France was down due to lower consumption and increased supply while Germany rose amid positive factors. As of 8:40 GMT, the price for French baseload electricity on Thursday had fallen by 9.9% to 93.3 euros (96.02 dollars) per megawatt-hour (MWH). The German baseload for the day ahead was up by 21.6% to 125.5 Euros. LSEG data shows that power usage in Germany will increase by 2.6 gigawatts per day, reaching 62 GW at the end of Thursday.
Prices on wind power are increasing.
The European spot electricity prices increased on Tuesday, with the wind generation forecast to drop sharply in the next day while solar production was negligible.LSEG analyst Francisco Gaspar Machado stated that solar production and wind power output were both below normal. He also noted that a decline in German gas availability was supporting the bullish momentum on the market.The price of French baseload electricity for Wednesday rose 42.6%…
French spot prices drop on mild temperatures and high winds
French prompt power prices dropped on Monday due to mild temperatures and the expectation of high German wind power output. The price of French baseload electricity for Tuesday dropped by more than 40%, to 72.25 Euros ($74.82). William Peck, Energy Aspects analyst, said that the primary reason for this is because these days were very mild. The French grid operator RTE predicted them to be 3-5 degrees Celsius above normal. He also mentioned high wind power levels in France and Germany.
On Monday, temperatures and wind supply are expected to increase.
On Friday, European prompt power rates for Monday were not traded due to the expectation of a higher wind power supply in France and a lower demand throughout the region. LSEG data shows that the German and French baseload contracts for Monday did not trade by 0948 GMT. LSEG data indicated that German wind output is expected to increase by 10.4 gigawatts to 46.5 GW on Monday, while French output should gain 14.3 GW up to 16.6 GW.
Barcelona terraces are still heated by patio heaters.
Gas-powered patio heaters are being used by tourists in Barcelona's historic center until 2025, when they will be banned due to their carbon emissions. The ban is set to take effect on January 1, and it's the culmination of years of battle between the City Council and restaurant owners who are worried about losing business because customers will avoid outdoor seating during winter. The city council…
Data shows that Russia's LNG exports in 2024 will increase by 3%.
LSEG's preliminary data on Saturday showed that Russia's LNG exports increased by 3% to 32 million metric tonnes in 2024, with about half of it going to Europe. China, the largest Russian importer, imported more than 7 millions tons of super-cool gas. In Europe, the Russian LNG exports were mainly delivered to France this year, who imported more than 5,6 million tons of LNG. Then comes Belgium and Spain.
Year Ender: Big Oil retreats from renewables as climate agenda falters
In 2024, major European energy companies increased their focus on oil and natural gas to maximize profits in the short-term. They also slowed down and sometimes reversed climate commitments. This is a trend that will likely continue in 2025. Oil majors have retreated after governments worldwide slowed down the rollout and set back targets for clean energy as energy prices soared in the wake of Russia's invasion of Ukraine.
