Portugal's regulator proposes an increase of 1% in electricity tariffs by 2026
The Portuguese electricity market regulator ERSE proposed a 1% increase in regulated tariffs, which 820,000 households and businesses pay. This will also have an indirect influence on the market prices charged to utilities, said ERSE.
Draft bill shows India plans to open the retail electricity sector to private companies nationwide
A draft bill from the federal ministry of power showed that India intends to open its retail electricity market nationwide for private companies, ending the dominant role of state-run distribution in the majority states. This move will…
Germany: No Auction Bids Raises Alarm for Future Offshore Wind Tenders
Germany's Economy Minister Katharina Reiche warned on Wednesday that flawed site selection and shifting market dynamics were undermining offshore wind tenders, as the country's latest offshore auctions received no bids.Two August tenders for offshore wind energy plants…
Market operator: Increasing renewable energy use in the Philippines could lower power prices by 24% by 2029.
The Philippines' power market operator stated on Thursday that the adoption of renewable energies could reduce average annual spot electricity prices by as much as 24 percent by 2029. The Independent Electricity Market Operator of the Philippines' (IEMOP)…
German prompt firms as French spot drops with increased nuclear supply
The European wholesale electricity market was mixed on Tuesday. France's position in the day-ahead price chart was impacted by increased nuclear availability, while German positions, which were already high, rose. LSEG Research cited…
Prices of gas in Europe are rising as Norwegian supplies increase.
The Dutch and British gas wholesale prices were trading in a narrow band early on Tuesday, as the higher temperatures in Europe restricted heating use. Meanwhile, the cooling demand and low winds generation mainly affected the power market.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country increased renewable imports while accelerating local solar power production. Data from the National…
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country ramped-up renewable imports while accelerating local solar power production. Data from the National…
The report of defects in the French nuclear reactor Civaux 2, lifts European energy market
On Wednesday, the price of front-year baseload contracts in France increased by 8.3% to 68 Euros ($77.76). This was due to a possible report that stress corrosion may have returned at a central France nuclear reactor. The contract reached a new four-month high.
French suppliers tighten up on German demand for higher wind speeds
On Tuesday, the European spot electricity market showed a mixed picture. Germany's supply was boosted by increased wind power production, but French nuclear and renewables were tighter. LSEG analyst Florine Engl observed that decreasing demand in the region was a bearish factor…
Spot contracts are pushed up by a combination of lower wind output and increased demand
The German spot electricity market was bullish on Tuesday, as renewable energy supply was expected to decrease throughout the region and demand to increase. LSEG data shows that the German baseload electricity for Tuesday at 0850 GMT was 103.75 Euros ($114.10)/MWh.
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.
EU wants more US gas and renewable energy to replace Russian supplies
The EU energy commissioner said that the EU will look to other countries, including the U.S., to supply more gas to replace Russian supplies and to expand renewable energy to reduce its reliance on fuel. In response to Moscow's invasion of Ukraine in 2022…
Hapoalim provides $1.5 billion to Dalia Energy for a new power plant
Dalia Energy, an Israeli company, announced on Thursday that it had signed a loan agreement with Bank Hapoalim for 5.3 billion Shekels ($1.5billion) to fund the construction of a brand new power plant. The deal, which is non-binding…
Lagos, Nigeria seeks investors to build a 4,000-MW gas-fired electricity plant
Lagos, Nigeria's commercial hub, invited bids on Thursday for the construction of gas-fired power stations of up to 4,050 megawatts (MW) to fill a shortfall in the national grid. The city is hoping to put an end to years of blackouts which have affected businesses and homes.
Vattenfall, TuuliWatti to Balance Finnish Wind
European energy company Vattenfall has signed a five-year energy services agreement with the largest Finnish wind power producer TuuliWatti that includes the latter’s total wind power production in Finland.The agreement, which started on 1 January…
COBRA Cable Readies for Action
The 700MW COBRAcable interconnector linking the Dutch and the Danish grid will be available for the electricity market as of delivery day, 7 September, Dutch high-voltage grid operator TenneT said."After three years of construction,…
China to Overtake Japan in LNG Imports
Japan could lose its position as the world’s top LNG importer to China as early as 2022, said a new report by consultancy group Wood Mackenzie.By then, LNG imports in Japan are expected to decline 12 per cent to 72.8 million tonnes per annum (mmtpa) compared to 2018…
Croatia's HEP to Invest $1.85 bln in Renewable Energy by 2030
Croatia's state-run power utility HEP aims to boost renewable energy to 50 percent of its total capacity from the current 35 percent, investing 1 billion Croatian kuna ($153.96 million) a year on average until 2030, it said on Thursday.It will upgrade existing hydro power plants…
UK Regulator Probes SSE, Npower Merger
British regulators have launched an in-depth investigation into the tie-up between the retail power unit of SSE Plc and Npower, owned by Germany's Innogy, saying it may reduce competition and increase prices for some households.The merger…