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.
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, with volumes of 2,000 MW and 500 MW, and planned commissioning dates in 2031 and 2030, drew no bids for the first time ever on Wednesday, utility association BDEW said, citing the…
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), according to its data, has shown that spot power prices in the Philippines fell to a low of 4,14 Philippine pesos (US$0.0731) per Kilowatt-hour in the first half of the year 2025. IEMOP says that…
Trump cuts subsidies for US clean energy, bringing an end to the boom.
Bila Solar, a Singapore-based manufacturer of solar panels, has suspended plans to double the capacity of its new Indianapolis factory. Heliene, a Canadian competitor, is reviewing its plans to build a solar-cell facility in Minnesota. NorSun, a Norwegian manufacturer of solar wafers, is evaluating the feasibility of a planned facility in Tulsa. Two offshore wind farms that are fully permitted in the U.S. Northeast could never be built. The major clean energy investments are now under question, after Republicans agreed to end U.S.
Indian Energy Exchange closes due to fears of increased competition by new pricing rules
Investors grew worried that a planned overhaul in electricity pricing would increase competition and erode IEX's dominant position on the market. IEX, India's most popular platform for determining spot electricity prices, is under pressure from the power regulator as it prepares to implement market coupling in January, in a gradual rollout. Other power exchanges can also play a role as market couplesrs under the new system. This will challenge IEX’s central position. Stocks were on course for their seventh session of consecutive losses.
German spot prices to rise due to falling wind supply
The German baseload electricity prices will likely rise next week due to a reduction in wind energy generation of more than half the current output. This is expected to offset a decrease in consumption. LSEG data shows that the German and French Monday basis power contracts were not traded by 0809 GMT. The German wind output is expected to drop by 6.4 gigawatt-hours per hour (GWh/h), to a level of 4.0 GWh/h on average, compared to Friday's levels. Meanwhile, the French output should increase 1.2 GWh/h up to 5.1 GWh/h.
Spot prices are lowered by a combination of wind power, nuclear energy and a shaky demand.
The European wholesale electricity prices fell on Thursday due to lower demand and higher wind generation, particularly in Germany. The market was impacted by the bearish factors, which overrode any impact from the tighter solar output. This is due to the rising temperatures expected into the next week that will increase the demand for power. French baseload electricity for Friday fell 7.3% to 51 euros ($59.83 per megawatt-hour) at 0745 GMT. The German equivalent contract dropped 8.4% to 86.8 Euro/MWh.
UK rejects zonal energy pricing
The British government is not moving to a zoned system of wholesale energy prices, but will instead try to gain greater control over the planning process in order to determine where to build clean energy infrastructure. The UK, with some of the world's highest electricity prices, struggles to find a way to build wind and solar farms, as well as transport them to the various parts of the country. The government had looked at dividing the country into zones with a pricing system based on demand and supply…
Increased usage and lower German wind supply prompts a warning
The European wholesale electricity prices rose on Monday on lower German wind generation forecasts and increased demand for the day ahead. LSEG's research also indicated a lower wind speed in the Benelux area, adding some lignite and nucleus availability under generally neutral conditions. At 0735 GMT, the German baseload electricity for Wednesday was up 4.7% at 94.5 Euros ($111.09 per megawatt-hour (MWH). The French equivalent contract was not traded, but the bid-ask price range for it was 57-60 Euros after the close of 42 euros/MWh.
German wind power boosts spot prices
German and French baseload electricity prices dropped by about 10% on Tuesday, as the wind power was expected to increase in Germany. However, price remained high due to a heatwave that has affected Europe. As temperatures have risen, authorities in several European nations have issued health warnings. Wildfires in Turkey & France have forced more than 50,000 to evacuate. On Monday, benchmark European electricity prices exceeded 100 Euros per Megawatt Hour (MWh) for the first since April due to cooling system requirements and low wind output.
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. LSEG data shows that the benchmark Dutch front-month contract was up 0.37 euros at 33.40 Euro per megawatt-hour or $11.55/mmBtu at 0848 GMT. The Dutch day-ahead contract increased by 0.25 euros to 32.38 Euro/MWh. The British day-ahead contract fell 0.25 pence to 78.00p/therm.