India's power production rises at the fastest rate in five months due to industrial boost
The data of the federal grid operator revealed that India's electricity generation in August increased at its fastest rate since March. Manufacturing activity was accelerating due to strong demand. Grid India's daily analysis showed that the 4% increase in output of electricity last month led to a first-time annualised boost in coal-fired generation in five months. This year, India's dependence upon coal has been reduced by the sustained growth of renewable energy capacity. About three-quarters of the annual electricity is generated by coal.
WhiteWater, Partners Move Ahead with Eiger Express Pipeline Construction
WhiteWater and its partners have reached a final investment decision (FID) to move ahead with the construction of the Eiger Express Pipeline, the infrastructure firm said on Monday.Driven by a boom in U.S. liquefied natural gas exports as well as rising demand for natural gas on the back of increasing electricity consumption, gas production in the country's shale fields is expected to rise even as oil output begins to plateau.U.S.
Heatwave expected to increase French demand
The heatwave expected in France will have a positive effect on electricity consumption, but it could also hurt nuclear power production due to high river temperatures that hinder cooling at nuclear reactors. LSEG data shows that the German and French Monday basis power contracts were not traded by 846 GMT. Baseload prices on Friday closed at 76.75 Euros/MWh compared to 54.75 Euros/MWh on Thursday. LSEG data indicated that German wind power production was expected to drop by 4.8 GW and reach 4.7 GW while French wind generation was projected by 3.5 GW and reach 5.2 GW.
Coterra Energy's profit beats expectations in the second quarter due to higher gas prices and strong output
Coterra Energy beat Wall Street expectations for the second quarter profit on Monday as higher production volumes, a rebound of U.S. Natural Gas prices and lower oil prices were offset. Houston-based shale producers benefited from increased production across the Permian basin and Anadarko Basin. The total production increased to 783.900 barrels equivalent of oil per day (boepd), from 669.200 boepd, during the second quarter. The production gains helped boost results but were partly offset by lower crude prices. The average Brent crude price fell over 20% compared to a year ago amid U.S.
Expand Energy, a US-based natgas producer, reports a second-quarter profit despite higher prices and output.
Expand Energy, the U.S. natural-gas producer, reported a profit for its second quarter on Tuesday. This was compared to a loss in the same period last year, due to higher production and commodity prices. After-hours, shares of the company rose 2.4% to $101,76. Expand, previously Chesapeake Energy became the largest independent natural gas producer in the United States after its $7.4-billion acquisition of Southwestern Energy was completed in October 2024. The company has also benefitted from the higher U.S. Natural Gas prices. These have recovered from multi-year lows reached last year.
Google signs $3 billion US Hydropower Deal in Largest Clean Energy Agreement
Google announced on Tuesday that it had agreed to purchase up to 3 gigawatts (or more) of hydroelectric power in the United States, forming the largest corporate clean energy pact ever for hydroelectricity. This comes as Big Tech continues its expansion of data centers, which are notoriously energy-hungry. The agreement between Google and Brookfield Asset Management includes initial power purchase agreements totaling $3 billion for electricity generated by two hydropower plants in Pennsylvania.
Google signs $3 billion US Hydropower Deal in Largest Clean Energy Agreement
Google announced on Tuesday that it had agreed to purchase up to 3 gigawatts (or more) of hydroelectric power in the United States, in what is the largest corporate clean energy pact ever made. This comes as Big Tech continues its expansion of data centers, which are notoriously energy-hungry. The agreement between Google and Brookfield Asset Management includes initial power purchase agreements totaling $3 billion for electricity generated by two hydropower plants in Pennsylvania. After nearly two decades stagnation…
Draft document shows that heavy industries will get a price reduction on electricity under the new EU regulations
A draft of the new EU rules on state aid, which are due to be published by the European Commission on Wednesday, revealed that heavy industries would receive a temporary reduction in electricity prices. This is despite criticisms from companies about high energy costs and restrictive green regulations. Eurometaux, a group of metals industry professionals, sent a warning to Ursula von der Leyen at the beginning of this month. The letter warned that the sector was losing its competitiveness in comparison with U.S. competitors and Chinese counterparts.
As new gas plants become more expensive, renewable energy is still the cheapest way to build power.
Lazard, in a Monday report, said that renewable power sources like solar and onshore winds are the least expensive, and fastest, power generation methods to deploy in the United States. This is true even without any government subsidies. In its annual Levelized Energy+ analysis, Lazard, an international financial services firm, reported that the cost of building new gas-fired plants has reached a decade high. This is due to the record electricity consumption in the country and the growing backlogs on turbines and equipment required to build the plants. After a 20-year hiatus, the U.S.
GAIL India sells LNG cargo because early monsoons lead to weak power demand.
GAIL (India) Ltd resold a liquefied gas (LNG) shipment this week, according to three sources in the market on Friday. The state-run company's tanks are full due to the weak demand for power in India. GAIL, India's largest gas distributor could reduce India's appetite for super-chilled fuel by reducing the number of LNG imports. India was the fourth largest LNG purchaser in the world last year, with about 26 million metric tonnes imported. This is due to India's rapid industrialisation and urbanisation as well as its growing electricity demand.
UN agency: Tech giants' indirect emission has increased 150% in the last three years, as AI grows.
A United Nations report on Thursday said that indirect carbon emissions from four of the world's leading AI tech companies increased by an average of 150% between 2020 and 2023 due to power-hungry data centers. According to the International Telecommunication Union, the U.N. agency responsible for digital technologies, the use of artificial intelligence in data centres by Amazon, Microsoft Alphabet, and Meta increased their indirect global emissions. Indirect emissions are those produced by the electricity, steam and heating/cooling that a company consumes.
UN agency: Tech giants' indirect emission has increased 150% in the last three years, as AI grows.
A United Nations report on Thursday said that indirect carbon emissions from four of the largest AI-focused tech firms, Amazon, Microsoft Alphabet, and Meta, increased by an average of 150% between 2020-2023 as they used more power to run energy-demanding servers. According to the International Telecommunication Union, the U.N. agency responsible for digital technologies, artificial intelligence increases global indirect emissions due to the huge amounts of energy needed to power data centers. Indirect emissions are those produced by the electricity, steam and heating/cooling that a company consumes.
Maguire: Eastern Europe's secretive surge in solar power generation
In Europe, the discussion of solar energy generation is dominated by Germany and Spain. Solar capacity in the nine largest producers of solar energy in Eastern Europe grew at a pace that was more than twice as fast as the rest of Europe over the last five years. This has allowed Eastern Europe to double its regional solar production share since 2019. Solar farms will provide electricity to at least six Eastern European countries, when solar radiation levels reach their peak this summer. The…
Maguire: Eastern Europe's secretive surge in solar power generation
In Europe, the discussion of solar energy generation is dominated by Germany and Spain. Solar capacity in the nine largest producers of solar energy in Eastern Europe has increased at a pace that is more than twice as fast as the rest of Europe over the last five years. This has allowed Eastern Europe to double its regional solar production share since 2019. Solar farms will provide electricity to at least six Eastern European countries, with a combined total of over 20% of the monthly power they use this summer. This is when solar radiation levels in the region reach their highest level.
Reports of Trump's executive orders to boost the nuclear industry have led to a surge in stocks
The shares of nuclear power companies soared in premarket trade after a report that U.S. president Donald Trump will sign executive orders to jumpstart this industry as soon as Friday. Trump will streamline the regulatory processes for new reactor approvals, and improve fuel supply chains. This was reported by four sources who are familiar with the issue. After nearly two decades of stagnation, the U.S. electricity consumption will reach record levels in 2025 or 2026 as data centers devoted to AI and crypto mining plug into the grid.
Utility Vistra buys natural gas assets worth $1.9 billion for power needs
Vistra, a utility, announced on Thursday that it will acquire seven natural-gas generation facilities with a combined power of 2,600 megawatts from Lotus Infrastructure Partners, for $1.9 billion. The move is part of its efforts to meet the growing demand for electricity. According to the U.S. Energy Information Administration, electricity consumption will reach record levels in 2025-2026 due to the surge in demand from data centres looking to match Big Tech AI ambitions. Vistra reported…
US utility Xcel claims tariff exposure is 2% to 3% of capex plan
Executives with the company stated on Thursday that a global trade war is likely to affect renewable energy supply chains and storage systems, exposing 2%-3% of Xcel Energy’s $45 billion plan for capital expenditures. The expansion of AI data centres and the electrification in industries such as transportation are driving U.S. electricity consumption to record highs. Power companies have increased capital expenditure plans this year to build infrastructure. The tariffs imposed by President Donald Trump and the reciprocal tariffs of countries such as China have threatened to increase these building costs…
NextEra exceeds profit expectations as the power company avoids trade risks
NextEra Energy's CEO stated that the company beat Wall Street expectations on Wednesday regarding rising electricity demand, as it works to navigate around increasing global trade risks. The rising costs brought on by President Donald Trump’s tariff war threaten to slow down a recent surge of electricity demand, and dent plans for expansion by the country’s power companies. NextEra, one of the largest renewable energy firms in the world, has said that it reduced its trade risk by $150 million, on $75 billion of capital expenditures. This is less than 0.2%.
IMF: AI's economic benefits will likely outweigh its emissions costs
The International Monetary Fund (IMF) said that the benefits of artificial intelligence would boost global production by 0.5% per year between 2025-2030, and outweigh the rising costs associated with the carbon emissions from the data centres required to run AI models. The IMF released a report at its annual spring meetings in Washington that noted the fact that these output gains were not shared equally around the globe. It called on governments and businesses to minimize costs to society.
Wood Mackenzie reduces 5-year US Wind Energy Outlook by 40% due to Trump policies
On Tuesday, a prominent energy research company slashed their five-year forecast for new U.S. Wind Energy Projects by 40%, citing Trump Administration policies and concerns over the economy. Wood Mackenzie predicts that the United States will install 45.1 gigawatts (both onshore and off-shore) of wind power through 2029. The firm had initially forecast 75.8 GW of installations over this period. The Energy Information Administration announced last month that the U.S. electricity consumption will reach record levels in 2025 and beyond.