Vestas: US Import tariffs Will Raise Domestic Electricity Prices
President Donald Trump's import tariffs will ultimately result in higher electricity prices for U.S. consumers, wind turbine maker Vestas warned on Tuesday, adding it could not absorb the extra costs.Wind turbines include components and materials sourced globally, making the sector vulnerable to potential impacts from international trade tariffs."Ultimately, the tariffs will go in and be part of an increased cost to the projects and therefore it will lead to an increased price in electricity," Vestas CEO Henrik Andersen told Reuters.Denmark's Vestas…
China's Coal Production Rises, but the Share of Electricity Falls: Russell
China's coal production is increasing while its share in electricity generation is decreasing. This apparent contradiction will result in lower import volumes and cheaper prices.The National Bureau of Statistics released data on August 15 showing that the coal output in July was 2.8% higher than the same month one year ago, reaching 390,37 million metric tonnes.The output in July was lower than June's, which was 405,38 million tons. This was the highest monthly production so far in this year. July's production was the third highest monthly output so far in 2024.