Report: India must double its renewable energy capacity to achieve 2030 clean-energy goals
Global Energy Monitor's (GEM) report released on Wednesday said that India needs to double its annual additions of solar and wind power over the next five year in order to reach its 2030 clean energy targets. This is despite 2024 adding record numbers. According to India's renewable energy minister…
Spot prices are mixed as German winds set to fall
On Tuesday, the European spot electricity prices for Wednesday were mixed as it was expected that wind power production would fall in Germany but increase in France. German power for the day ahead increased by 0.9% at 0930 GMT to 137.75 Euros per Megawatt Hour. LSEG data shows that the French baseload rate for the day was 104 euros/MWh down 1.4%.
The Dutch prices of gas are rising on the back of cooler temperatures forecasts
Dutch wholesale gas prices increased on Tuesday morning, as cooler temperatures and a lower renewable energy output forecasts boosted demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 0.45 euros at 46.75 Euros per Megawatt Hour (MWh), which is $14.35 /mmBtu by 0906 GMT.
Uniper's hedging strategy includes selling hydropower through 2027.
The German utility Uniper said that it has sold large quantities of future hydropower production as part of an hedging strategy. Uniper sold 30% of German hydropower for 2026, at an average of 86 euros per megawatt-hour (MWh) and 5% for 2027 at 80 euros/MWh. This was revealed in a presentation to analysts on the earnings for 2024.
India's NTPC has plans to invest over $23 billion in renewable energy in Madhya Pradesh
The Indian state-owned power company NTPC announced on Monday that it will invest over 2 trillion rupees (about $23,07 billion) in renewable energy projects located in Madhya Pradesh. The company has announced several investments in renewable energy that it plans to make. India is moving away from fossil fuels.
Italy's Saipem and Norway's Subsea 7, to create a leader in energy services
Saipem, an Italian company, has agreed to merge its Norwegian competitor Subsea 7 into a global leader in offshore energy services. The deal is a 100% share transaction. The two companies announced that the combined group will be called Saipem7. It will have a backlog of orders of over 45 billion euros…
Italy's Saipem and Norway's Subsea 7, to create a leader in energy services
Saipem, an Italian company, has agreed to merge its Norwegian competitor Subsea 7 into a global leader in offshore energy services. The deal is a 100% share transaction. The two companies announced that the combined group will be called Saipem7. It will have a backlog of orders of over 45 billion euros…
BP abandons renewables targets and returns focus to fossil fuels
BP's CEO will abandon a goal to double renewable energy generation by 2030 and return the focus to fossil energies as part of a new strategy announced on Wednesday in response to investor concerns about earnings. BP shares have been underperforming their rivals over the past few years, and…
Gas prices drop and forward contracts are cancelled
On Monday, European spot prices rose for Tuesday. The wind supply in Germany is expected to drop to less than half the levels of Friday while demand has increased in many countries across the region. LSEG data shows that the German day-ahead electricity price was 143 euros ($149.79 per megawatt hour (MWh), up 61.6% on Friday's rate for Monday.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "We do not need to discuss the issues anymore, they are already well-known.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "Germany needs to quickly regain its competiveness." Energy policy is crucial.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "Germany needs to quickly regain its competiveness." Energy policy is crucial.
UK announces plans to reform subsidy schemes in order to accelerate green energy projects
The British Government on Friday announced plans to reform its flagship Contracts for Difference scheme (CfD), which will remove planning obstacles and accelerate green energy projects in particular offshore wind farms. The Department for Energy Security and Net Zero, (DESNZ), has announced…
On Monday, expect a higher German wind output
German and French power prices were not traded on Friday for the Monday. German wind power is expected to increase against a decline in average demand across the region. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0934 GMT. LSEG data indicated…
Energa receives up to $1.92 billion loan for power grid investment
Polish utility Energa announced on Wednesday that it had signed a loan agreement with Poland's Development Bank BGK for up to 7,66 billion zlotys (1,92 billion dollars) to invest in its power distribution network. Polish oil refiner Orlen owns Energa and plans to develop four offshore wind…
Prices drop due to falling demand and temperature increases
The European power price fell on Wednesday, as the consumption is expected to drop sharply due to rising temperatures. LSEG's analysis showed that German exports of power were down, while the availability of thermal power stations was not significantly different. LSEG data shows that the…
German wind volume to rise - a warning
The European spot price for Wednesday dropped on Tuesday, as German wind production volumes are expected to double. France is also set for a significant fall in consumption. The LSEG analyst Naser Hahemi wrote that "residual loads are down in Germany due to the increase in wind energy production."…
Air Liquide and TotalEnergies invest over 1 billion Euros in green hydrogen projects
Air Liquide, a French industrial gas company, announced on Tuesday a joint venture with TotalEnergies, a French oil giant. The two companies will develop in the Netherlands two large-scale low-carbon hydrogen plants. Air Liquide said in a press release that the two projects represented a combined investment totaling more than 1 billion euro ($1.05 billion).
Spot prices drop on increasing wind power supply
European spot prices fell on Monday for Tuesday, as a rise in wind power production across the region is expected to exceed demand increases. LSEG data shows that the German day-ahead electricity price was 135.75 Euros ($142.29 per megawatt hour (MWh), down 9.5% on Friday's prices for Monday.
US Energy Secretary attacks "sinister" net zero goals and singles out Britain
Chris Wright, the U.S. Energy secretary, called Monday's pledge to reach net zero carbon emission by 2050 "a sinister goal" and criticized British efforts to meet clean energy targets. The former president Joe Biden has set an ambitious goal for 2021: to reduce emissions to zero by 2050 in order to combat climate change.
