PGE's quarterly net loss is impacted by asset write-downs
PGE, Poland's largest energy company, reported on Tuesday a net loss for the second quarter of $9.61 billion zlotys (2.65 billion dollars), in line with its estimates. Impairments on tangible assets had a negative impact on the company. Why is it important? PGE, the largest state…
Spanish power utilities warn of a saturated electricity grid
Aelec, the Spanish energy utilities lobby, warned on Tuesday that most of Spain's electricity grid was saturated and needed massive investment to allow for new connections. Aelec analysed the global map of Spanish grid operators. It concluded that over 80% of nodes in the grid could not handle an increase in electricity generated…
Experts say that India's tax reduction on solar and wind energy devices will lower clean energy tariff.
India's decision on cutting taxes on solar and winds equipment will lower the costs of new plants, and pressurize existing project developers to reduce their tariffs. This will accelerate India's transition to renewable energy. On Wednesday, the government lowered the goods and service tax (GST)…
EDF will make 6 GW hydropower available as part of a French agreement with EU
The Prime Minister's Office announced on Thursday that EDF, the French state-owned utility, will offer 6 gigawatts in hydroelectric power to third parties as part of an agreement with the European Commission. The office of Prime Minister Francois bayrou said that this virtual capacity…
Russell: China's imports of LNG are expected to increase for the 4th consecutive month. But it's still not bullish.
China's LNG imports are expected to increase for the fourth consecutive month in August. However, this might not be as positive as first seems. According to commodity analysts Kpler, the world's largest buyer of super-chilled gasoline is on course to import 6.04 million tons of fuel in August.
Russell: China's imports of LNG are expected to increase for the 4th consecutive month. But it's still not bullish.
China's LNG imports are expected to increase for the fourth consecutive month in August. However, this might not be as positive as first seems. According to commodity analysts Kpler, the world's largest buyer of super-chilled gasoline is on course to import 6.04 million tons of fuel in August.
Russell: Asia's LNG imports will likely increase, but not enough to satisfy Trump
As part of the trade agreements with President Donald Trump, there are some early signs that certain Asian countries will increase their imports from the United States of liquefied gas (LNG). According to commodity analysts Kpler, Asia's super-chilled fuel imports are set to reach a record of 2,01 million metric tonnes in August.
Russell: Asia's LNG imports will likely increase, but not enough to satisfy Trump
As part of the trade agreements with President Donald Trump, there are some early signs that certain Asian countries will increase their imports from the United States of liquefied gas (LNG). According to commodity analysts Kpler, Asia's super-chilled fuel imports are set to reach a record of 2,01 million metric tonnes in August.
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate…
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate…
Maguire: US clean energy capacity grows slower, but wider by 2025
This year, the pace of adding new solar, wind, and battery capacity in the U.S. has slowed down nationally and in some key states, which is hurting sentiment for clean energy. Climate trackers should take heart in the fact that growth has continued outside of Texas and California.
Sempra exceeds profit expectations on US utility growth
Sempra, a company that provides energy infrastructure in the United States, beat analyst's expectations for its second-quarter profits on Thursday. The growth of its U.S. utilities and cost reductions helped. U.S. utilities continue to grow, fueled by a growing electricity demand from sectors like data centers and energy-intensive industries.
Germany accelerates geothermal energy projects
The German cabinet approved on Wednesday a draft bill aimed at accelerating the rollout geothermal projects as part of Germany's goal to eliminate fossil-fuel-based heating before 2045. Since the Russian invasion of Ukraine in 2022, interest in geothermal power has risen. This is due to a rise in energy costs…
AI revolution to transform Europe's outdated power plants
Microsoft and Amazon are looking to convert some of Europe's old coal and gas-fired power plants into data centres with ready access to electricity and water. Engie in France, RWE in Germany, and Enel in Italy are all looking to capitalize on the surge of AI-driven energy demands by converting their old power plants into data centres…
Xcel Energy’s quarterly profit is boosted by rising electricity demand and rate increases
Xcel Energy, a U.S. utility, reported a 47% increase in its second-quarter profits on Thursday, boosted by higher revenues through rate increases, even though rising interest rates, depreciation, and operating costs offset some of the gains. Xcel has been able to increase its revenue…
Vopak expands biofuels storage at Malaysia terminal joint venture
Vopak, a Dutch tank storage company, announced that it will expand its capacity to store biofuels at Malaysia Pengerang terminal Two (PT2SB), as part of a strategy for the company to promote energy transition. The PT2SB joint-venture is owned by Vopak Terminal Pengerang (VTP), Dialog Equity (Two)…
Utility Duke Energy sells Tennessee Natural Gas Business for $2.48 Billion
Duke Energy announced on Tuesday that it will sell its Tennessee Natural Gas Distribution business to Spire, for $2.48 Billion in cash. The utility is looking to streamline operations while releasing capital to invest in upgrades to the electric grid. The company stated that approximately…
DTE Energy is in talks with Big Tech to supply power for 3 GW data centers
DTE Energy, a Detroit-based utility company, is in advanced discussions to supply more 3 gigawatts (GW) of electricity to Big Tech's data centers. The company expects to sign their first major contract by the end the year. U.S. Since early last year, the electricity is being provided…
DTE Energy's weak energy and gas trading revenue causes it to miss its second-quarter profit estimate
DTE Energy, a U.S. utility company, missed Wall Street expectations for its second-quarter profits on Tuesday due to lower income in the gas and energy trading segments. Natural gas prices fell 16.1% during the June 30 quarter, resulting in a 22.5% drop in profit at the energy trading segment.
CenterPoint Energy increases its capex plan to $500 million due to the growing US demand for power
CenterPoint Energy, an electric and gas utility in the United States, increased its 10-year plan for capital expenditures by $500 million, as it focused on increasing power demand, especially in Texas. Company executives announced this on Thursday. Utilities are increasing their plans to invest in power infrastructure as AI data centers…