Low wind and hot weather will increase spot prices
German and French power contract prices for the next week will rise due to low wind output, which is limiting supply. Hot weather also increases demand. However, more forward-looking contracts were at a lower price on Friday morning in line with gas market. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0926 GMT.
Report: Global CO2 emissions in energy reached record levels last year
The Energy Institute's Annual Statistical Review of World Energy showed that global carbon dioxide emissions in the energy sector reached record levels for the fourth consecutive year last year, as fossil fuel consumption continued to rise even as renewable energy also hit record highs. The figures in the report…
Prices of prompts spike as demand increases in hot weather
The European wholesale electricity prices rose sharply Tuesday as hotter weather is expected to increase demand for air conditioners, while German wind energy output dropped sharply. LSEG analyst Riccardo Paraviero highlighted the impact of a lower German wind energy supply at night. He said that this would lead to an increase in the use of gas-fired electricity.
Wind supply surges to surpass demand
Early on Friday morning, spot electricity contracts for German and French power were not yet being traded. However, a significant increase in German wind energy supply is expected to eliminate any price pressure caused by rising German demand. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0948 GMT.
Saudi Energy Minister on Iranian oil loss: We only react to reality
Saudi Energy Minister Prince Abdulaziz bin Salman said that Saudi Arabia will only "react to reality" when asked on Thursday if it and Russia would replace any possible loss of Iranian crude oil. Speaking at an economic conference in St Petersburg the prince added that OPEC+ was a reliable organization that was attentive when circumstances prevailed.
Austria: EU should resume Russian gas imports in the event of peace in Ukraine
An Austrian official told Brussels that the European Union would be willing to resume Russian gas imports in the event of a peace agreement between Russia and Ukraine. The European Commission will propose legal measures to implement the ban on Tuesday, with the goal of ending the EU's dependence on Russian energy before the end of 2027.
South Africa's $5.8 billion Project Aims to Produce Low-Cast Green Ammonia
A $5.8 billion project on South Africa's east coast seeks to use the country's infrastructure and cheap renewable power to make some of the world's cheapest green ammonia for clients in Europe and Asia, an executive said.South Africa is vying with other African nations, including Egypt, Morocco and Namibia, to meet rising demand in the European Union and Asia for hydrogen and ammonia des
The power demand forecasts are lower than expected on Mondays
German and French spot rates were not traded on Friday morning, but the demand for wind power is expected to be reduced due to the dual holidays. LSEG data shows that the German and French Monday basisload power contracts had not been traded by 847 GMT. LSEG analyst Florine Engl stated that residual load in Germany should decrease on Monday compared to last Friday.
Japan's Gas Industry Allows Gas with Carbon Capture in 2050 Net Zero Plan
The Japan Gas Association announced on Tuesday that it will take a more flexible stance in its efforts to become carbon neutral in 2050. This includes allowing a greater use of gas, in conjunction with carbon capture and other decarbonisation methods. The industry group stated that it aimed to supply 50-90% by 2050 of its gas from biogas or e-methane…
Demand for renewables increases on Monday, while supply falls
German and French spot rates were not traded on Friday morning, but a lower output of renewables and an increased demand will likely drive prices up on Monday. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0737 GMT. LSEG analyst Naser Hahemi stated that residual load was increasing throughout the region on Monday…
On Monday, France and Germany saw a decline in demand
German and French spot price had not traded on Friday early, while demand in both countries is expected to drop on Monday and renewable output shows divergent trends throughout the region. LSEG data shows that the German and French Monday basis power contracts had not been traded by 838 GMT. LSEG data indicated…
Deutsche ReGas Receives EU Funding for Baltic Sea Coast Hydrogen Project
Deutsche ReGas on Wednesday said it will receive 112 million euros ($126.97 million) worth of public grants from the European Union's Hydrogen Bank for a renewable hydrogen project at Lubmin on Germany's Baltic Sea coast.The grant comes under EU funding schemes to promote electrolysis processes that use carbon-free electricity to kick-start a local economy producing hydrogen as an altern
Santos Australia gets the green light on $2.3 billion Narrabri Gas Project
Santos’ A$3.6 billion (2.32 billion) Narrabri Gas Project in Australia, can proceed. A tribunal has ruled that the project is allowed to go ahead, as the increase in energy supply for the Australian market outweighs concerns about the impact on the climate or damage to Indigenous heritage sites. The decision comes after a decade of fighting over the granting of leases to Santos…
The region has seen a decline in renewable output
German and French spot rates were not traded on Friday morning, but the falling supply of renewables is expected to exceed the decline in demand for Monday's prices. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1111 GMT. LSEG analyst Florine Engl stated that the residual load will increase on Monday in all regions except Austria.
German renewables production to remain high Monday
The German and French spot price were not traded on Friday morning, but the persistent solar energy supply and increasing wind power are expected to put pressure on prices on Monday. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1004 GMT. Guro Marie Wyller, LSEG's analyst…
Trump administration sues Hawaii and Michigan to block planned lawsuits on climate change
The Trump administration sued Hawaii and Michigan in an attempt to prevent them from suing major oil companies for their role in climate changes. They accused the Democratic-led state of overreach, and threatening domestic energy production. A lawsuit has not been filed by either state. Hawaii Governor Josh Green…
The Trump administration sueded Michigan to stop a planned climate change lawsuit
The Trump administration sued Michigan to stop it from suing oil companies for their role in climate change. They claimed that the Democratic-led Michigan was blocking domestic energy production. In a late-night lawsuit filed in Michigan, the U.S. Department of Justice said that the state's intention to sue would…
JERA, Japan's LNG supplier, may look at Alaska, says exec
JERA, Japan’s largest power generator, could consider Alaska as a possible source of liquefied gas (LNG), according to an executive on Monday. Japanese officials will be heading to the United States for another round in tariff negotiations this week. Alaska LNG, which is a $44 billion project that includes a pipeline…
Indonesia wants fair and square trade in US tariff discussions
Indonesia's senior economic minister, and its top negotiator, said that it is prioritizing its national interests in ongoing negotiations about U.S. Tariffs. It wants to have a "fair-and-square" trade relationship. Airlangga hartarto, head of the delegation, and Sri Mulyani indrawati, finance minister, have been in the United States for the last week…
Spot prices remain unchanged as sunny and still weather is expected on Monday
German and French spot price were not traded on Friday morning. A surge in solar energy supply on Monday, and a lower demand because of higher temperatures was expected to offset an expected fall in wind supply. This would put pressure on prices. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0946 GMT.
