France's offshore Wind sector is battered by government crises
Offshore wind developers, and suppliers of equipment are bracing themselves for a slowdown. A political crisis in France has caused changes to France's energy framework as well as government tenders to be stalled. Data released on Friday showed that business activity in France declined faster than anticipated in October.
EUROPE GAS - European prices drop after a short-lived price boost.
The Dutch and British gas contract on Friday lost gains made in the previous session due to concerns about the impact of sanctions on Russian energy supplies. However, the short-term demand and supply picture did not change. LSEG data shows that the benchmark Dutch front-month contract was 32 euros per megawatt (MWh) or $10.89/mmBtu at 1018 GMT.
ContourGlobal, backed by KKR, targets British renewables
KKR ContourGlobal is planning to enter the renewable energy market in Britain as it pursues a strategy of streamlining that will see other countries removed from its portfolio. ContourGlobal, founded 2005 and listed on the London Stock Exchange in 2017, was acquired by KKR Fund in 2022. "We…
German spot prices fall on strong wind supply
German spot prices for Friday were lower than the French equivalent price, as wind production is expected to increase and demand is seen declining. LSEG analyst Naser Hazemi stated that Germany's wind power production is increasing, and the solar industry has also increased. Lower demand, coupled with a higher supply, will reduce residual load.
South Africa plans to revive its small-nuclear reactor technology
The electricity and energy Minister said that South Africa expects its Pebble Bed Modular Reactor to be removed from the status of care and maintenance by the first quarter next year, or even sooner. South Africa, once considered a leader in the field of small modular reactors (PBMR), halted research on PBMR in 2010…
JERA Nex BP halts US Beacon Wind Project as Costs Soar
JERA Nex BP is a joint venture formed by Japan's largest power generator JERA, and BP. It plans to halt the development of the U.S. Beacon off-shore wind power project, and layoff its U.S. workers in the next few months, according to a press release. The decision is the latest blow to the U.S.
Spot prices plunge as German wind floods supply
European power prices dropped sharply on Wednesday, as forecasts of a doubled German wind generation in the next day's time outweighed slight increases in demand. Also, French nuclear availability was tighter. "Wind energy production is increasing not only in Germany, but also throughout the Central West Europe region…
The new Japanese Prime Minister's energy policies puts nuclear power at the heart of their policy
Sanae Takaichi, the new Japanese prime minister, is expected to press for a rapid revival of nuclear energy to combat inflation, which has been a major source of discontent amongst the public. Reactor restarts are also key to reducing expensive fuel imports. Analysts said that Takaichi appointed Ryosei Acazawa as its trade and industry minister…
EUROPE GAS-European Gas Prices Little Changed on Higher Wind and Colder Weather
The Dutch and British gas price ranges were mostly unchanged on Wednesday morning. Strong winds will offset the colder weather that is expected in the next few days, but early November should be milder, limiting demand for heating. LSEG data shows that the benchmark Dutch front-month contract…
JERA Nex BP halts US Beacon Wind Project as Costs Soar
JERA Nex BP is a joint venture of Japan's largest power generator JERA with BP. The company plans to stop development of the U.S. Beacon off-shore wind power project in the next few months and layoff its U.S. workers, according to a press release. The decision is the latest blow to the U.S.
German wind downturn boosts spot prices
The European immediate prices were lifted on Tuesday by the expectation of a sharp decline in German wind energy generation. This will turn the country into an importer the next day. The German signal is positive. LSEG analyst Xiulan Xiulan said that wind supply has decreased significantly. He also cited rising German demand.
Spot prices fall on German wind production
The European spot price for Tuesday dropped as the German temperatures are expected to increase and wind power production will rise. LSEG data shows that the German day-ahead price was 63.25 Euros ($73.76 per megawatt hour) at 0929 GMT. This is down 17.9% compared to Friday's closing price for Monday delivery.
EUROPE GAS-European gas prices rangebound amid milder outlook
Dutch and British gas price were looking for a direction on Monday, as weather forecasts indicated a milder November start that could help Europe to fill its gas storage. Ukraine, meanwhile, said it would need to import additional gas this winter. LSEG data shows that the benchmark Dutch front-month contract was lower by 0.10 euros…
Vestas shelves Polish turbine plant amid weak European demand, FT reports
The Financial Times reported that Vestas, a Danish wind turbine manufacturer, has shelved its plans to build its largest factory in Poland due to a lack of demand on its main European market. The report could not be verified immediately. Vestas has not responded to the request for comment.
Philippines to Increase Renewable Power Generation as Demand Surges
Philippines expects higher gas-fired and renewable power generation to fuel a projected 6.6% growth in power demand over the next two years, helping reduce dependence on coal, its energy secretary said on Friday.The country will continue to boost gas use for power generation and plans to add more gas-fired capacity to address rising demand…
Philippines boosts gas-powered and renewable capacity to meet surge in demand
The Philippines' energy secretary stated on Friday that it expects increased gas-fired power generation and renewable energy to help fuel a projected 6,6% growth in demand for power over the next two year, reducing dependence on coal. In an interview conducted on the sidelines the ASEAN Energy Ministers Meeting…
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…
Increased wind production will weigh on Monday's spot prices
The strong increase in regional wind energy supply will likely bring down spot prices on Monday. The German and French baseload power contracts for Monday had not begun trading at 0824 GMT Friday after closing respectively at 108 and 90 euro per megawatt-hour on Thursday, LSEG's data showed.
Colombia wins offshore wind bid by CIP of Denmark
The head of Colombia's hydrocarbons agency announced on Thursday that a subsidiary from Denmark's Copenhagen Infrastructure Partners, CIP, had bid to develop a wind project for the first round of the South American nation's offshore energy auction. Orlando Velandia of Colombia's National Hydrocarbons Agency…
Gas prices in Europe are falling as wind energy output increases
The Dutch and British wholesale prices of gas fell early on Friday due to the strong output from wind turbines, which reduced demand and stable supply. LSEG data shows that the benchmark Dutch front-month contract was 32.05 euros per Megawatt Hour (MWh), or $10.99/mmBtu at 0825 GMT. This is a decrease of 0.33 Euro.