A2A CEO: Milan's data center capacity will increase tenfold within five years
The Chief Executive of A2A, an energy group, said that data centres in the financial capital of Italy, Milan, are expected to increase their capacity by around two gigawatts over the next five-year period, which is a tenfold rise from the current levels. A2A, a utility that will provide the electricity needed, can expect to see a boost in revenues from the rapid expansion of data centers, required to drive artificial Intelligence. Milan's data centres have a capacity of 200 megawatts, but the city's peak demand for electricity is currently 1.5 GW.
Senator: US energy prices will spike due to Trump's decision to cut grants
The Trump administration’s plans to cancel nearly eight billion dollars in Energy Department grants is illegal, because contracts were already signed. It will also cause consumer energy costs to skyrocket. The Energy Department cancelled $7.56 billion of funding for clean energy project earlier this month because it did not believe that the projects would provide enough return to taxpayers. Senator Martin Heinrich from New Mexico stated that these projects would have increased energy and flexibility to the grid.
French spot slightly higher on small variations in demand and supply
The European wholesale electricity prices were virtually unchanged on Thursday, with French levels marginally higher and Germany's remaining untraded due to slight variations in demand and supply. The market is sending mixed signals. "While wind generation is down (the overall drop in consumption) and residual load suggest (a) mildly bearish signal," said LSEG Analyst Xiulan He. He added that coal and gas capacity availability were both up. At 0800 GMT on Friday…
The French higher ups are an outlier in a windy environment.
The German wind energy supply was a negative factor on the European wholesale electricity prices on Wednesday, but France's day-ahead price position was boosted by a decrease in solar production. In a day-ahead German forecast, LSEG analyst Xiulan He said that the wind supply would increase steadily up until hour 14. After which it will stabilise and then show a slight decrease. He also predicted that Germany's exports were expected between hours 10-17.
Grid operators claim that the UK's winter energy is secure, despite lower gas margins.
In their winter outlooks, the electricity and gas grid operators in Britain expect that there will be enough energy this winter despite tighter margins for gas due to declining production at home. National Gas and Britain's National Energy System Operator publish annual reports on the supply and demand of gas and electricity for the coming winter in order to assist businesses and governments prepare. In its winter outlook, Glenn Bryn-Jacobsen said that only a few events…
Spot prices are affected by a combination of falling demand and increased supply
On Wednesday, a higher supply forecast led to a rise in the wholesale electricity prices across Europe. Demand is expected to decrease. The main reason for the decline in German residual load is due to increasing wind power supply. The availability of thermal energy in Germany is increasing across the board. LSEG data show that the French day-ahead power contract, which is a baseload electricity contract, was down 8.6% to 74 euros ($86.01), while its German counterpart was not traded with a price of 109 euro/MWh after a close of 127.8 Euros, LSEG said.
Solar industry in Spain warns about price threats to energy transition
The number of hours in which solar power prices were zero or negative has increased this year, a sign that the supply is exceeding demand, and producers are forced to pay for power offloading or to stop their plants. This trend could threaten Spain's move to green energy. UNEF reported that between January and September of this year, solar energy producers experienced 693 hours with negative or zero electricity prices, which is the same as last year.
French spot electricity prices rise on windpower decline
On Thursday, the French spot electricity contract was higher for Friday due to lower wind power production in the region. By 0836 GMT, the French baseload day-ahead contract was up by 34.4% to 77 euros per megawatt hour (MWh). The German equivalent contract, which closed at 77.25 euro/MWh last Wednesday, was not traded. Analysts at Engie’s Energy Scan said that after a period in which spot prices were very low due to factors such as strong wind output and higher hydro…
Slovakia pushes back on pressure over Russia energy purchases
Slovakia, on Wednesday, resisted pressure to reduce its purchases of Russian gas, saying that it was willing to discuss the matter, but pointed out certain European states who increased their purchases. Both Slovakia and Hungary, both EU member states, are led by populists who have maintained political ties with Russia. Russia supplies most of their oil requirements, and they have argued it would be costly to stop using Russian supplies once their infrastructure has been built around them.
German spot prices are affected by the rising wind supply
German spot electricity prices for Thursday dropped as the wind speed in France decreased and temperatures were colder. German baseload for the day ahead fell 11.9%, to 75.55 Euros ($88.86), per megawatt-hour (MWh), by 0952 GMT. The French baseload for the day ahead was up 37% to 55.50 Euros/MWh. Analysts at Engie's Energy Scan said that temperatures will remain below average for the rest of this week but should return to normal next week. LSEG data revealed that German wind power production was projected to increase by 7.6 gigawatts, to 31.9 GW.
Alaskans fear higher energy prices as Trump drills
Alaskans spend nearly two times as much on electricity as the national average. Matt Goodnow, financial counselor at a hospital located in Homer, Alaska, a fishing village on the Kenai Peninsula, said that higher energy costs would be detrimental to the community. The Trump administration is not only planning to eliminate federal funding for renewable energy projects and to remove tax breaks, it also proposes to lift the limits set by former president Joe Biden regarding oil and gas drilling in Alaska.
Tuesday will continue to see high wind energy supply
The European spot baseload electricity prices continued to be low on Monday due to the high wind energy supply in the region. This is a continuation of the growth that has been occurring since last Thursday. As of 816 GMT on Tuesday, German baseload electricity was not traded at a price of 22 euros per megawatt-hour, down from the Friday closing price of 21 euro. LSEG data revealed that the equivalent French contract was 20 euros/MWh. The Monday contract was not traded on Friday.
German spot price Monday is impacted by higher wind supply
On Monday, a surge in wind energy generation in Germany will offset a reduction in solar output to drive down baseload electricity prices. LSEG data shows that the German and French baseload power contracts TRDEBD3,TRFRBD3 had not been traded by 825 GMT Friday. LSEG data revealed that the day-ahead contracts were closed at 57 euros/MWh on Thursday and 16.4 euro/MWh on Friday. Marcus Eriksson, LSEG analyst, predicted that a'very small' residual load…
Octopus Energy, a British company, partners with a Chinese wind turbine manufacturer
Octopus Energy, Britain's biggest electricity supplier, has signed a contract with Chinese wind turbine maker Ming Yang Smart Energy. This could lead to the installation of the first Chinese-made turbines in Britain. The UK is trying to increase its renewable energy to meet climate targets, but it is also struggling with rising project costs as well as high electricity prices. The companies will explore the use of Ming Yang Smart Energy technology in Octopus Energy’s plans to develop 6 gigawatts through its Winder initiative.
German spot price Monday is impacted by higher solar supply
On Monday, it is expected that the increased solar power production in Germany will offset the decrease in wind power and lower baseload electricity prices. LSEG data shows that the German and French baseload power contracts TRDEBD3,TRFRBD3 had not been traded by 0737 GMT Friday. LSEG data show that the day-ahead contracts were closed at 105.8 euro/MWh on Thursday and 57.75 euro/MWh on Friday. According to LSEG analyst Naser Hahemi, in Germany,…
German industry lobby warns energy transition could cost 5.4 trillion euros by 2049
The German Chambers of Industry and Commerce said that the current German energy transition strategy would cost up to 5.4 trillion euro ($6.3 trillion) in 2049. This could be a heavy burden on businesses and households, and reduce their competitiveness. Berlin wants to achieve climate neutrality by 2045 by covering 80% of its energy needs with renewable sources by 2030. Electricity prices are among the highest in Europe despite the strong growth of wind and solar power in recent years. With the current policy the energy transition will not succeed.
Spot prices are depressed by the sharp rise in wind energy supply
The European spot electricity prices fell on Tuesday, as the strong growth in German wind energy supply combined with the expected increase in solar power availability outweighed any slight rise in demand. LSEG data revealed that the German contract for day-ahead electricity fell by 42%, to 66.25 Euros ($77.56), per megawatt hour, at 0940 GMT. The equivalent French contract, however, dropped by 37.9%, to 20.50 Euros/MWh. Marcus Eriksson, LSEG analyst, says that residual load in Germany is declining, but imports will still be expected to Germany.
Glencore to cut jobs at South African vanadium and ferrochrome operations
Glencore announced on Monday that it has begun a retrenchment at its Rustenburg joint venture ferrochrome and vanadium operations, as economic pressures continue. According to Glencore's estimates, South Africa has approximately 80% the known world chrome ore reserves. This makes the country a major player in the global ferrochrome industry. In May, however, power outages, increasing electricity prices, and economic pressures forced miners to stop production at the venture’s ferrochrome Boshoek Wonderkop and Lion smelters.
Solar spot prices rise due to a drop in supply
The European spot electricity prices rose on Tuesday due to an anticipated drop in solar power generation across the region. LSEG data show that the German contract for day-ahead electricity rose 8%, to 105 Euros ($122.92), per megawatt hour. The equivalent French contract grew 8.7% to 84.25 Euros/MWh. LSEG data indicated that the German wind power output is expected to increase by 2.1 gigawatts to 7.4 GW while French output will remain unchanged at 3.7 GW.
CEZ increases its 2025 outlook despite lower-than-expected Q2 net profits
CEZ, the Czech electricity producer, raised its profit forecast for the full year on Thursday. This was due to the earnings growth mainly driven by the acquisition and integration of the gas distribution network GasNet. The company's EBITDA forecast for the full year has been raised from 127-132 billion Czech crowns to 132-137. The results exceeded our initial expectations. We have therefore increased our outlook for full-year earnings," said Chief Executive Daniel Benes in a press release. CEZ's adjusted net profit dropped 47%, to 4.0 billion crowns.