DTE Energy's profit beats expectations, thanks to higher rates
DTE Energy, an electric and gas utility, beat Wall Street expectations for the third-quarter profits on Thursday as higher supply rates helped its performance in its electricity unit. In premarket trading, shares of the company rose 1%. According to LSEG data, on an adjusted basis…
NextEra's performance in the third quarter beats estimates due to its renewables strength
NextEra Energy beat Wall Street's expectations for its third quarter profit on Wednesday. This was due to the strength of its renewables division. The forecasts for this year are brighter than ever, thanks to the growing demand for electricity from homes and businesses, as well as AI-backed data centres…
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…
PJM wants a delay in the auction of capacity after an environmentalist's complaint
PJM Interconnection will delay its next annual auction of capacity by six months, while the largest U.S. Grid Operator addresses a complaint made by environmental groups. The biggest U.S. Grid Operator said this in a letter sent on Thursday. PJM’s latest auction, which resulted to…
METI official: Japan could increase LNG purchases for emergency reserves to almost 1 million T per year.
An official from the industry ministry stated that Japan may increase its purchases of LNG for emergency purposes to at least twelve cargoes per year, up from the current three, in order to protect against supply shocks. The plan to boost reserves involves the second largest LNG buyer in the world, China.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024.
Investors flock to US dividend ETFs after Fed rate cut
Since the Federal Reserve began its rate-cutting cycle last month, U.S. ETFs that invest in dividend paying stocks have seen a surge of inflows. However, a rise in U.S. Treasury rates could slow down the inflow of funds. Morningstar's group of 135 U.S. Dividend ETFs tracked in September brought in $3.05 Billion…
Enea, a Polish coal company, says its dividend policy is dependent on the future of coal assets and regulation
Enea must secure funding for large investments, and it needs to be clearer about the future of the coal assets and the market regulations before it can announce a dividend policy. This was the chief financial officer's statement on Thursday. Utilities invest heavily in green energy to comply with EU regulations and reduce coal dependence.
Japan's LNG stocks are above the 5-year average and buyers want more cargoes
The data showed that the liquefied gas stocks held by Japan's major electric utilities increased 14% from the previous week to 2,09 million tons on Sept. 8. This is above the average five-year figure for this time of year. Rystad Energy's analyst stated that buyers wanted to buy more…
California rooftop solar subsidy will cost $8.5 billion per year, according to a ratepayer's advocate
The California Residential Solar Subsidy will cost California ratepayers without rooftop panels $8.5 billion per year by the end this year. This will contribute to higher electricity prices for consumers. In 2022, the California Public Utilities Commission reformed its residential solar policy called net energy metering.
Saudi firm plans a hydrogen-powered skyscraper for Egypt's new Capital
Saudi-controlled firm plans to start construction on 50-storey, $1 billion office tower in Egypt's capital early next year. The building will be powered by hydrogen and is the first of its type. Magnom Properties is a Saudi industrial group Rawabi Holding subsidiary. They bet that…
US utilities to benefit from data center demand in the second half
After striking several supply agreements during the second quarter of 2018, U.S. Electric utilities were bullish about the demand for data centers that are driving the artificial intelligence boom. This reinforced market expectations regarding sales growth throughout the year. Several top utilities…
Japan to Promote Gas, LNG, Hydrogen During G7 Presidency
Japan will stress the importance of investment in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during its presidency of the G7 this year, a source said, but would keep it clean to meet 2050 carbon neutral goal.Japan, president of the rich-country grouping for 2023…
India Coal is Back in Business
India's coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand, rising supply from new mines and strong demand for imports."King coal is coming back and coming with a big bang," Anil Kumar Jha, the chairman of Jindal Power Ltd.…
Molten Salt Reactors: Maritime’s Nuclear Option
A race is being run by nuclear scientists and ship designers. The prize? “Decarbonization’s” holy grail — believed to be a “small” thorium-fueled, molten-salt rector’s unlimited power to propel sea trade. At the same time, a recently revived discussion among leading marine-nuclear thinkers revolves now around how to put an ultra-modern…
Energy Opinion: China May End Australian Coal Import Ban
Talk that China may end its unofficial ban on imports of Australian coal is unlikely to result in any significant increase in shipments to the world's biggest coal buyer.Media reports last week suggested that Beijing is considering lifting the informal embargo, put in place in the second half of 2020 as tensions escalated with Canberra over a serie
Siemens Energy CEO Buch Calls Wind Division Problems 'Extremely Annoying'
Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was "extremely annoying" that it was having to reduce its profit outlook as a result of the Spanish-listed unit.The comments from CEO Christian Bruch highlight the problems around…
Inside the Red-Hot Offshore Wind Energy Market
As the traditional offshore oil and gas markets continue to struggle, the renewable offshore wind market is hot and getting hotter.As the cumulative maritime, offshore, port and logistics marketplace gears up for offshore wind energy on a huge scale, World Energy Reports (WER), in…
"Coal has to go," CEO of Poland's PGE Says
Coal has obviously to be scrapped as a power source, the CEO of the Polish group which owns the EU’s biggest carbon-emitting power plant said on Thursday, underscoring a policy shift in a country until recently wedded to coal to generate electricity.Poland produces most of its electricity…
