The policies of Australia's major political parties in a single glance
Australians will cast their votes on Saturday, in a tight-run national vote marked by concerns about the cost of housing and living as well as the trade tensions caused by U.S. president Donald Trump's tariffs. Compare the key policies of the Liberal-National Coalition led by Peter Dutton and Anthony Albanese’s Labor Party, a centre-left party. The government has promised to spend A$10 Billion ($6.40 Billion) on building up to 100,000 homes.
Maguire: US LNG exports reach new heights due to strong European demand
The U.S. has exported more than 20% of its LNG this year compared to the same period last year, mainly due to purchases from European nations. These countries accounted for three-quarters of all U.S. orders. According to Kpler (a trade intelligence firm), the total U.S. LNG shipments from January to April reached 34.6 million tons. This was by far, the highest volume ever recorded for this period.
Maguire: US LNG exports reach new heights due to strong European demand
The U.S. has exported more than 20% of its LNG this year compared to the same period last year, primarily due to purchases from European nations. These countries accounted for three-quarters of all U.S. orders. According to Kpler (a trade intelligence firm), the total U.S. LNG shipments from January through April was 34.6 million tons. This is by far, the highest volume ever recorded for this period.
Gas stocks in Europe could be more stressed this summer due to less hydro and wind.
The wind speed and lower hydropower stock in Northwest Europe could increase demand for gas-fired and coal-fired electricity generation this summer, at a moment when Europe needs to replenish storage that has been depleted following the winter. LSEG data revealed that hydro levels and snowpack are now well below the average levels in continental Europe. They were also much lower than those recorded in 2024. Meanwhile, gas demand is on the rise year-on-year.
Spot prices plunge ahead of May Day
European electricity prices dropped on Wednesday, as demand is expected to fall ahead of the Labour Day Holiday in Europe. Prices are expected to remain low into the weekend. By 0811 GMT, the French baseload day-ahead traded at $5.69 per megawatt hour (88.2% less). The German baseload position for the day ahead fell by 36.4%, to 46.4 Euros. The bid price for the country's contract on Friday was 54 euros/MWh.
First Solar reduces its annual sales and profits forecast due to near-term tariff problems
First Solar lowered their annual sales and profits forecasts on Tuesday, citing near-term challenges due to the ongoing U.S. - China trade war. They also cited a tepid demand for residential solar in the United States. This sent its shares down by 11% after hours trading. The U.S. demand for residential solar has been weakening due to high rates of interest and new metering regulations in California, the top market.
Hydro signs billion-euro contract to supply NKT low-carbon aluminum for EU grid
Hydro, a Norwegian company, announced on Tuesday that it had signed a contract to supply NKT in Denmark with low-carbon aluminum wire rod for the production and upgrade of Europe's grid infrastructure. The European Union published in 2023 a plan to improve the efficiency of their electricity grids, and to roll out upgrades rapidly to help facilitate the energy shift. Hydro announced…
Research shows that China continues to support overseas coal plants, despite its 2021 commitment
According to a Tuesday analysis of energy investment in BRICS nations, Chinese companies are still building coal-fired electricity plants in Indonesia. This is despite their pledge to stop funding coal projects abroad by 2021. Global Energy Monitor, a U.S. think-tank, said that China was involved in the construction of 7.7 gigawatts in new coal-fired electricity, mainly plants to power nickel smelters located in Indonesia.
Government committee calls for India to accelerate nuclear power projects
According to a meeting of India's Power Ministry advisory committee held on Monday, the country must speed up nuclear project execution, raise awareness about their safety, and create a strong vendor list. India announced in early February that it would amend its nuclear liability laws to encourage foreign and private investment. The aim is to increase the nuclear capacity from 9 GW to 100 GW or more by 2047.
French prompts are affected by higher wind output
French spot prices were impacted on Monday by an increase in expected wind power production across the majority of the region despite forecasts for higher demand. LSEG data shows that the French baseload electricity for Tuesday at 1052 GMT was 26.5 euros (30.07 dollars) per megawatt-hour, a 50.9% decrease from Friday's price on Monday. The German power for the day ahead was not traded.
Japan's greenhouse gases emissions drop 4% to a record low in FY23/24
Government data released on Friday showed that Japan's greenhouse gases emissions dropped by 4%, reaching a new record low for the fiscal year ending March 2024. This was due to lower energy consumption, increased use of renewable energies, and restarting nuclear power plants. The data of the Environment Ministry showed that emissions for 2023/24 dropped from 1.116 billion to 1.071 billion tons of carbon dioxide.
Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's full-scale invasion of Ukraine in 2022 drove up global prices…
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.
Xcel Energy's first-quarter profit misses estimates due to higher costs
Xcel Energy, a U.S. utility, missed Wall Street expectations for the first-quarter profits on Thursday due to higher operating and interest costs. The high interest rates have made it difficult for utility companies to build and maintain vital infrastructure at a time of increasing electricity demand. Data centers are booming due to AI. Xcel Energy reported that its total operating costs increased 8.7% to $3.23 Billion…
CMS Energy reports higher profits on the strong demand for power from data centers
CMS Energy, a U.S. gas and electric utility, reported on Thursday a higher profit for the first quarter. This was due to heightened power demand. In February, the U.S. Energy Information Administration forecast that power demand would reach record levels in 2025 and in 2026 as data centers are experiencing a surge. After warning of potential supply-chain problems due to tariffs, the company stated that nearly 90% of its supply chain would be sourced domestically.
Spot prices are affected by lower demand and more solar.
The drop in demand for power and the increase in solar power in Germany pushed spot prices down on Thursday. These changes also overshadowed a predicted drop in wind energy supply on Friday. German baseload electricity for Friday fell 7.5% to 92 euros (104.65 dollars) per megawatt-hour (MWh) at 0826 GMT. The French equivalent contract dropped 1.3%, to 74 Euro/MWh. LSEG data shows that power usage in Germany will drop by 1.8 gigawatts to 54.3 GW.
UK launches energy security summit by investing in offshore wind supply chain
The UK will host a summit on energy security in London, starting the event by promising to invest 399 million pounds (399 million dollars) into the domestic supply chain of offshore wind projects. After the Russian invasion of Ukraine, 2022, which led to price spikes around the globe and saw the EU try to reduce its dependence on Russian fuels. The UK Government, International Energy…
UK bans state investments in solar panels that are linked to forced labor
The energy department announced on Wednesday that Britain will avoid using solar panels associated with suspected forced labor in China by its new state-owned company, Great British Energy. Over 80% of solar panels are produced in China. According to a study by the UK's Sheffield Hallam University, forced labour is used in the production of polysilicon - one of the panel's core components - among Uyghurs.
Baker Hughes' first-quarter profits beat expectations on the back of strong demand for natural Gas Technology
Baker Hughes, a U.S. oilfield technologies firm, beat Wall Street expectations for the first-quarter profits on Tuesday thanks to a robust demand for natural Gas technology. The positive results are coming as oilfield service firms prepare for the impact of the tariffs introduced by the President Trump. These are expected to increase costs and disrupt sourcing of materials that are used in equipment such as drill pipes and artificial lifting systems.
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…
