Diplomats claim that EU countries support changes in the carbon market to reduce price spikes.
According to EU diplomats and a document seen by, the European Union agreed to keep more spare CO2 permits within the emissions trading system of the bloc to 'try to avoid spikes in prices for carbon. The EU plan was first proposed in April by 'the European Commission' in response to the surge in fuel costs caused by the conflict in Iran, which left governments scrambling to find ways to reduce energy bills. The ETS is Europe's primary climate policy and not the main cause of rising electricity prices in Europe.
What does the 'Made-in-EU' law say and why should Britain be concerned?
British Prime Minister Andy Burnham announced on Tuesday that he will make a case for Britain being considered a "trusted" partner under the proposed "Made in EU "rules of the European Union. The European Commission's Industrial Accelerator Act was unveiled by the European Commission in March. The Industrial Accelerator Act is part of the EU's broader efforts to help local industries compete against producers overseas who are not subjected to Europe's strict regulation and higher energy costs.
EIB invests in first modular nuclear reactor
On?Tuesday it announced that the European Investment Bank was making its first investments?into small modular nuclear reactors as Europe raced to develop the next generation of nuclear energy technologies. The small modular reactor (SMR) is a new nuclear technology which has attracted the interest of data centres and other industries that are looking for a low-carbon, 24/7 energy supply. The SMR reactors have a capacity of 300 megawatts, as opposed to 1 gigawatt in conventional plants.
EU aircraft sent to Belgium as it fights record wildfire
After Belgium requested emergency reinforcements, the European Union sent three 'helicopters' and two 'water bomber aircrafts? to tackle a record wildfire that broke all records in eastern Belgium. Since Friday, local firefighter, farmers, and the army are trying to put out the blaze that has been burning in the High Fens - Belgium's largest natural reserve. A spokesperson for the Wallonia region administration in Belgium said that by early Saturday afternoon it had already burned 1,600 acres.
EU aircraft sent to Belgium as it fights record wildfire
Three 'helicopters' and two 'water bomber aircrafts?were deployed by the European Union to tackle a wildfire that was raging on Saturday in eastern Belgium, according to the crisis commissioner of the bloc. Since Friday, firefighters, farmers, and the army have been battling the fire in the High Fens. Local media reported that by early Saturday afternoon it had?burned 1,600 hectares. They cited statistics from the Governor of Liege, the province. The fire would be the largest ever recorded in Belgium.
Vattenfall abandons Vidar offshore wind projects
Vattenfall, the Swedish utility, will not proceed with the 'giant Vidar offshore wind farm,' one of two that the government approved this week because it would not be 'profitable,? CEO Anna Borg stated. Vidar, located off the coast of Sweden north of Gothenburg has the capacity to provide 7.8 terawatt-hours of electricity for southern Sweden. This is important because a lack in power has caused a major problem in industry. Borg stated that the current calculation does not add up.
Ten countries ask EU to reconsider new carbon pricing on fuel
Ten countries, including Italy, Poland and the Czech Republic, have urged the European Union (EU) to "reconsider" a new carbon fuel price as part of an independent revision of the EU's carbon market. They could be pitted against those who support the new charge, such as Germany and Sweden. The European Commission is set to propose on Friday a revision to the CO2 trading system that forces power plants, factories, airlines, and shipping companies, among others, pay for their CO2 emission.
US to build PAC-3 missile facility in Europe
A senior official from Washington said that the United States would establish a facility in Europe to maintain Lockheed Martin’s advanced PAC-3 air defence missile. Washington did not rule out producing the missile elsewhere. The U.S. spoke to reporters on the sidelines the NATO summit at Ankara. Michael Duffey, the Undersecretary of Defence, said that it is not yet known where the maintenance facility will be located. Germany, the Netherlands and Sweden have joined forces with U.S.
Swedish minister presents baby at EU meeting - a first in the bloc
On Thursday, as EU ministers were gathered to discuss climate change policies for an entire day, they were surprised by the arrival of a three-month-old child at their table. Adam, the son of Swedish climate minister Romina Poullmohtari, attended the EU Council meeting in Luxembourg to promote parental leave policies that don't require women to choose work or family obligations. "I wanted it to be a demonstration that you don't have to make this choice," Pourmokhtari said.
Green steel startup Stegra completes $1.6 billion in funding
The Wallenberg Investements consortium, which led the EUR1.4 billion ($1.6 billion), financing round for Stegra, a Swedish startup that is building Europe's first hydrogen-fueled steel plant, announced on Wednesday it had completed its financing round. The financing is a welcome reprieve for Stegra, one of Europe's few large green steel projects. High costs and challenges in scaling up hydrogen produced with green energy had forced many planned projects to be curtailed.
Swedish and Dutch fans celebrate before World Cup clash
Two heavyweight fan groups are bringing the heat in Houston to a halt as they prepare for the World Cup Group F match between Sweden and Netherlands. A maypole was planted in a hotel courtyard, and fans wore flower crowns while DJ music played in the background. Andreas Richt is the head of the Swedish supporters' group who organised the event. Sweden will be aiming to regain their confidence after a disappointing draw against Japan. The latest action, however, is underway for many fans.
Document shows EU countries have scaled back their plan to finance power grids
A document from an internal negotiation revealed that governments 'have reduced the European Union’s proposal to spend national money on 'the bloc's' energy infrastructure' after Sweden threatened to limit power exports due to the plan. This dispute is over a proposed EU legislation to raise money for large energy infrastructure projects like interconnectors. These are necessary to integrate renewable energy sources into the network, and to meet increasing power demand due to data centres and other sources.
Studsvik wants state support for building 1,400 MW of nuclear power in Sweden
The Swedish government is promoting nuclear energy to ensure the security of the supply of the country. The centre-right Government has made a range of offers, including loans up to 440 billion crowns (47 billion dollars), 40-year price guarantee and support for the management of nuclear waste. This is to encourage construction of a minimum of 5,000 MW nuclear capacity. The government's offer would help to meet the increased electricity demand that analysts predict will double in the country by 2045.
The host of the Climate Summit, Turkey, proposes a 2035 global electric target
The president of this year’s global climate conference said that Turkey would'seek to gather support for a 'global target' for electricity, which is to'meet' 35% of the energy demand of the planet by 2035. This will aim to reduce fossil fuel consumption. As part of Turkey’s preparations for the COP31 U.N. Climate Conference in November, the aim is to move away from relying on fossil fuels like oil, coal, and gas to technologies such as electric industrial furnaces and electric cars, and heat?pumps.
Norway and Sweden will see increased power prices this summer due to low hydro, nuclear
The wholesale electricity prices in Sweden and Norway will be higher than usual this summer because of the low filling level of hydropower reservoirs, and due to ongoing nuclear power outages. This was announced by an energy regulator on Wednesday. Inga Nordberg is the head of energy and concessions at the Norwegian Energy Directorate. She said that the reservoirs in central and southern Norway would fill less than usual during the summer, despite the beginning of snowmelt, which?typically supplies many of these sites.
Six countries oppose EU plan to reduce carbon allowances
A document obtained by revealed that an EU plan to reduce the number of?free CO2 permits?given to industry has been met with resistance from?six countries who have asked for looser rules in order to help companies cope with the impact on energy prices due to the Iran War. This month, the European Commission proposed a new set of rules on how many free emission permits will be given to industries until 2030. Brussels has said…
Modi is likely to ask UAE for more energy during his short visit, according to sources
Three sources say that Indian Prime Minister Narendra Modi is expected to visit the United Arab Emirates on Friday for a brief trip. He will likely?discuss energy supply agreements and seek support to increase his country's strategic reserves of oil,? they said. Modi will make his first stop in the UAE on a 'five-nation' tour between May 15 and 20. The UAE is the third largest energy importer of the world, which wants to restore supplies severely disrupted by Israel-U.S. war against Iran.
Bouygues exceeds operating profit expectations on strength in energy services
French conglomerate Bouygues reported ?better-than-expected first-quarter core earnings on Thursday, as strength ?in its energy ?services business ?Equans offset weaker ?performances across its media and telecoms arms. The first-quarter operating profit rose by 11.6% compared to the previous year, to 77 millions euros ($90.4million), while sales fell 3.2% to 12,18 billion euros. The?company polled analysts in a poll to estimate an operating profit between 66 and 67 million euros for revenue of 12,39 billion euros.
Earnings of Swedish utility Vattenfall doubled on increased output and prices
The company reported that earnings at Vattenfall, Sweden's state-owned utility, had doubled from the same period a year earlier, thanks to a?higher production of power and sharply higher?Nordic electricity prices. Vattenfall has reported a profit of 17.2 billion Swedish Crowns ($1.85billion) before interest and taxes for the period January-March, up from an earlier figure of 8.5 billion Swedish Crowns. The company reported that prices for Nordic power generation rose…
Nordex, a German wind turbine manufacturer, reports a strong quarter-end profit thanks to European demand
Nordex, an onshore wind turbine manufacturer, reported Monday better-than expected core?earnings in the 'first quarter of 2026. It cited continued demand in its key markets. The German company reported earnings before interest taxes, depreciation, and amortization (EBITDA), of 131 millions euros ($154) compared to a consensus estimate of 112million euros provided by the company and an?79.6million euro result from a year ago. In Europe, 90% of the installed wind capacity was generated by onshore wind last year.