Axpo, a Swiss company, is looking at opportunities in Japan's power and LNG trading
Axpo, a Swiss power producer and trader, is looking at opportunities in Japan's electricity and liquefied gas (LNG), as the changes in Japan's power sector have created a demand for spot LNG and hedging. Japan has set an ambitious target of renewables accounting for 36%-38% of its total electricity mix by 2030.
US natgas manufacturers chase AI-driven surge of power demand to weather low price
Shale gas producers are contacting data-center operators in the U.S. Permian Basin to build up the capacity needed to power an AI boom. They want to relieve the pressure of a two-year-old slump in prices. Devon Energy, Expand Energy Diamondback Energy and Permian Resources highlighted…
COP29: Climate agenda clashes with trade demands
At the COP29 Climate Summit, trade tensions are escalating. According to U.N. documents, and negotiators, China, Brazil, and a number of other developing countries have complained that perceived barriers, like the European Union’s carbon border levy will undermine climate efforts.
EUROPE GAS prices hit an all-time high amid cold weather and supply concerns
Dutch and British wholesale prices for gas hit an intraday record on Thursday, amid concerns about the Russian storage and supply inventories falling below last year's levels and a forecast of cold weather. LSEG data show that the benchmark front-month contract for the Dutch TTF hub had risen 0.86 euros to 47.67 euros a megawatt hour at 1012 GMT.
JOGMEC reports that Japan's LNG exports increased by 1% during FY23/24 due to an increase in external trade.
According to the Japan Organization for Metals and Energy Security, (JOGMEC), the volume of liquefied gas (LNG), handled by Japanese companies increased 1% on an annual basis in fiscal 2023/24 due to the increase in external trade. Japan is the second largest importer in the world of super-chilled gasoline, behind China.
Edison CEO: US utilities want Trump and Republicans to save the inflation act
Pedro Pizarro said that the U.S. Utility Industry wants the incoming Trump Administration and the Republican-led Congress in Congress to maintain clean energy and EV Tax Credits in the Inflation Reduction Act. The 2022 IRA is a law that contains hundreds of billions in subsidies for…
India requests states to consider nuclear power plants and list of power utilities
The Indian federal power minister asked on Tuesday that states without coal resources consider building nuclear power plants. He also listed the utilities who could help meet the growing demand for power. In its budget for this year, the Indian government proposed to work with private…
Sempra misses its profit forecast due to higher costs and lower utility earnings
Sempra, a U.S. energy company, missed Wall Street's third-quarter profit estimates on Wednesday due to higher interest costs and lower earnings in its utility businesses of Texas and California. Utilities are ramping up investments in their projects amid booming demand from data centers to power the artificial-intelligence wave…
Public Service Enterprise Group exceeds Q3 profit expectations on the back of higher sales
Public Service Enterprise Group surpassed Wall Street expectations for the third quarter profit on Monday as the electric utility and gas utility benefitted from higher retail sales and growth in distribution margins.U.S. Electric firms are looking to increase customer bills in order to fund upgrades to the grid.
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…
Wall St. ends lower than expected as Meta and Microsoft highlight AI costs
The major U.S. indexes ended lower on Thursday, after Microsoft and Meta Platforms pointed out that artificial intelligence costs could impact their earnings. This dampened the enthusiasm for megacaps which have been driving this year's market rally. Microsoft and Meta Platforms, which own Facebook…
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.
