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 made for a conference call with analysts on the earnings of the first three months of 2024.
Researchers say that a late-season storm could disrupt the US oil production by 4 million barrels.
Researchers said that a late-season tropical storm, which is predicted to intensify this week into a Category 2 hurricane in the U.S. Gulf of Mexico, could reduce U.S. crude oil production by approximately 4 million barrels. Storm Rafael, which was in the Caribbean Sea on Monday evening, is expected to move into the Gulf of Mexico via a path that will take it through oil-producing regions.
US regulators reject amended agreement on interconnect for Amazon Data Center
A filing on Friday showed that U.S. Energy regulators had rejected an amended agreement to interconnect an Amazon datacenter directly with a nuclear plant in Pennsylvania. Federal Energy Regulatory Commission members said that the agreement to increase capacity of the Talen Energy Susquehanna nuclear generating plant's data center could affect grid reliability and raise electricity bills for consumers.
U.S. regulators consider the issue of data centers in power plants
The Federal Energy Regulatory Commission held a technical meeting on Friday to discuss the reliability and cost concerns associated with the growing trend of building data centers that are energy-intensive on the site of U.S. nuclear power plants. The technology industry is racing to build data centers to support technologies such as generative artificial intelligence.
Official: China hopes US climate collaboration will continue whoever wins the election
A senior official in the Chinese government said that China hoped the United States would be able continue to work with other countries to combat climate change regardless of the results of the presidential elections next week. The 2015 Paris Agreement was made possible by the cooperation between China and the United States. They are the two largest emitters of greenhouse gases that cause climate change.
Climate Investment Funds Board backs $1 billion Turkey grid upgrade project
Climate Investment Funds, a multilateral lender, has announced that it will provide an initial investment of $1 billion to support a plan to upgrade Turkey’s electricity grid to handle more renewable energy. The CIF board approved a $70million investment from its Renewable Energy Integration Investment Platform (REI), with the…
Finland seizes $4.25 billion in Russian assets as part of the Naftogaz case
Documents from a Finnish court show that the court ordered the confiscation of assets worth $4.25 billion owned by Russia and located in Finland at the request Naftogaz. The Finnish Enforcement Authority confirmed it was executing this order. Since 2016, Naftogaz has taken legal action against Russia to seek compensation for the…
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, power firm Celsia and Spain's BlueFloat Energy.
What are the differences between Trump and Harris' energy policies?
Both Donald Trump, a Republican, and Kamala Harrias are Democrats. They both want to increase production while keeping prices low for consumers. The main difference is that Harris wants to favor clean energy technologies that are crucial in fighting climate change. Trump, on the other hand, would roll back green regulations which hinder oil and coal drilling.
Net zero target needs $3.5 trillion in annual green energy investment, Wood Mackenzie says
Wood Mackenzie's report on Tuesday said that the investment in green energy must double every year to $3.5 trillion if we are to reach the Paris Agreement goal of net zero emissions by the year 2050. The consultancy's report said that, in addition to the investment gap, global efforts to switch to cleaner energy are under pressure due to concerns about energy security and tariffs and barriers to trade…
Canada's renewable fuel projects are hit by a surge in US imports
Canadian renewable fuel producers will see lower returns from new facilities as a result of a slump in British Columbia’s low-carbon fuel standard (LCFS). This trend is expected to continue amid an influx of US exports. The weakness in British Columbia's LCFS Credit Market reflects the growing pains of the international biofuels sector…
After a tight win, the New Democratic Party (NDP) of British Columbia will form a government with ties to the left.
The New Democratic Party of Premier David Eby, who is currently in office, will form the next government for British Columbia. This comes after a final count of votes on Monday. It was more than a full week since the vote of October 19. The NDP won 47 seats, just enough for a majority in Canada's westmost province. John Rustad’s Conservative Party of British Columbia took 44 and the BC Green Party two.
Walmart cuts Walmart Plus price in half for the holidays
Walmart announced on Monday that it will offer its membership service Walmart Plus at a discount of 50% ahead of the holidays, in an effort to compete with Amazon.com Prime subscription services. In order to help shoppers cope with the high inflation, retailers in the United States like Walmart launched their sales earlier this year and offered more discounts and incentives.
UN says current climate pledges fall far short of Paris goals
The United Nations stated on Monday that national pledges to reduce greenhouse gas emissions are still far below what is required to limit catastrophic global heating. In its annual report, the United Nations Framework Convention on Climate Change said that the "nationally determined contribution" (NDC) already submitted to the U.N.
Australia and UK join forces to support clean energy technologies
The leaders of Australia and Britain announced on Friday that they plan to collaborate to increase the deployment and use of renewable energy technologies such as green hydrogen, offshore wind and other forms of renewable energy to help decarbonise the world. In a joint press release, Australian Premier Anthony Albanese said that…
Palm prices surge for a fourth day due to lower stocks and possible production drops
Malaysian palm oils jumped by more than 2% in value on Thursday. This was due to expectations that palm production would decline and the national stockpiles would be reduced. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Market gained 116 Ringgit or 2.59% to 4,602 Ringgit per metric ton. The contract gained 7.92% in total over four sessions.
US offers tax incentives to solar manufacturers that use semiconductors
The Biden Administration announced on Tuesday that it would extend an incentive to manufacturers of thin silicon wafers used in solar panels, which are mostly produced in China. This is part of the administration's climate change and job agenda to create a domestic supply chain for solar energy. Thanks to the new subsidies for clean-energy manufacturing…
Cambodia increases power import capacity in order to improve flexibility
Cambodia's energy minister said that the country plans to increase its capacity to import cleaner power from Laos and Vietnam, as well as Thailand, by more than 600 Megawatts. This is a 50% increase over current agreements. Keo Rottanak noted that the move could boost interconnections in Southeast Asia and provide more options…
Cambodia will increase its power import capacity to over 50% within the next two years
Keo Rottanak, the energy minister of Cambodia, said that it plans to import more than 600 megawatts (MW), or clean power, from Laos and Thailand. This will increase its contracted import capacity over 50%. In 2026, the Southeast Asian nation will import solar and hydro power from Laos. Rottanak stated that the country is nearing approval for a deal to nearly double its 300 MW agreement with Vietnam…
Tanzania builds grid interconnector to Zambia to mitigate power crisis
Tanzania's vice prime minister announced at the Singapore International Energy Week on Monday that Tanzania will build a grid-interconnector with Zambia in order to assist in reducing a power crisis caused by a drought. "We already have interconnectors in place with our neighbours Burundi and Kenya, but now we're putting up one with Zambia.
