The price of gas in Europe is rising due to a decline in wind power production
Dutch and British wholesale prices for gas edged up on Friday as forecasts of lower wind output boosted demand for 'gas from power plants. But solid supply capped the gains. LSEG data shows that the benchmark Dutch front-month contract was up 0.70 Euros at 28.05 euros per Megawatt Hour (MWh) or 9.63/mmBtu at 0918 GMT.
German spot prices are impacted by lower demand on Monday
German power prices will likely fall on Monday as a drop in wind power production is expected to be offset by a lower consumption. LSEG data showed that the German and French Monday baseload 'power contracts' were not traded by 8:40 GMT on a Friday. LSEG data shows that German wind power production is expected to drop by 2.4 gigawatts to 26.3 GW Monday.
SSE's Transmission arm secures £1.34 billion UK-backed facility to Scotland power grid
SSEN Transmission, which is majority owned by SSE Plc has secured a?1 billion pound ($1.34billion)?12 year?bank facility to support major grid upgrades in Scotland, said the power company on Friday. The UK has set a goal to decarbonise the power sector largely by 2030. This will require "many more renewable energy plants…
Japan will increase public funding for nuclear power renewal
Japan has announced plans to increase public funding for its crippled nucleopower sector. This is essential, say experts, to kick-start an industry that was previously financed by utilities owned by shareholders. Japan closed all 54 reactors in the wake of the 2011 Fukushima nuclear disaster.
Poland allocates 3.4GW of offshore wind power in its first auction
?Poland's energy regulator URE announced on Thursday that 3.4 gigawatts of capacity were allocated in the first?competitive auction for offshore wind power. URE reported that the auction resulted in 25-year contracts with a range of prices between 476.88 zlotys (133.09 dollars) and 492.32 zlotys for each megawatt hour.
German spot on a weaker demand and lower renewables in France
The European spot power prices on the two major markets showed mixed trends on Thursday. In France, the price rose due to a tighter renewables' supply while in Germany the price fell because of weak demand. The French day-ahead position for baseload power rose 63.4% to 67 euros per Megawatt Hour (MWh) at 845 GMT…
The UK has exempted Egypt's Zohr Gas Field from Russian sanctions
Britain added Egypt's Zohr Gas Field, where Russian oil major Rosneft has a 30% stake - and London-based BP a 10% one – to a list of projects that are exempted from its Russia sanctions. In October, Britain and the United States sanctioned Russia's two largest oil companies, Rosneft, and Lukoil for their involvement in funding Moscow's invasion in Ukraine.
TotalEnergies sold 50% of the Greek renewables portfolio to TotalEnergies for 254 millions euros
PARIS, December 17 - TotalEnergies, the French oil major, has agreed to sell 50% of its 424 megawatt portfolio of Greek wind and solar assets to Asterion Industrial Partners of Spain for 254 millions euros ($297.36million), according to an announcement made on Wednesday. It said that the…
Poland's offshore auction is seen as a key test for Europe following failed tenders
Poland will launch its first competitive offshore auction on Wednesday. Experts say that this test could help revive Europe's struggling wind sector, as developers compete for long-term contracts following a string of failed tenders in the region. The auction is offering developers 25-year contracts at fixed prices between $135 and $143…
Italy's offshore-wind push is stagnant, putting climate targets at risk
Analysts say that Italian plans to harness the offshore wind power are coming to a grinding halt. This puts the country's goals for climate change at risk and hits firms who have invested in this sector. A government decree from 2024 offered incentives for 3.8 gigawatts of?capacity?by 2028.
Sonnedix secures contracts in Italy for 805 MW solar power
Sonnedix, a renewable energy company backed by JP Morgan and sponsored by three Italian government schemes, has been awarded contracts to install 805 megawatts in solar capacity under three different government schemes. Solar power, considered easier to develop than wind projects because of Italy's geographic characteristics…
Prices fall despite short-term bullish factors
The European spot electricity prices fell on Tuesday despite lower renewables and nuclear supplies and an increase in consumption?in France - as demand decreased across the region. LSEG analysis identified increasing thermal power as a market factor, which?overall?worked to bring down levels in Germany & France.
Prices for gas in Europe are little changed, as the cooler weather increases demand
Dutch and British gas traded in a narrow band on Monday morning after rising the previous two sessions. Cooler weather supported higher gas demand, and a sharp fall in wind speeds boosted gas demand for electricity generation. But stable supply limited gains. Data compiled by LSEG revealed…
French spot increases on weakened wind supply
The French spot electricity price on Tuesday increased as the wind generation output was expected to decline while demand was expected to increase due cooler temperatures. The French day-ahead 'baseload power' price at 0912 GMT was 89 euros ($104.42), up 20.4% on the Friday closing price for Monday delivery.
Prices to rise on Monday due to wind power
European electricity prices will likely fall dramatically on Monday as wind power production is expected to increase in Germany and other parts of the region. LSEG data revealed that German -and French Monday baseload electricity contracts were not traded by?0859 GMT Friday. LSEG data shows…
Italy awards solar power in the first "Not made in China" auction
In its first auction, Italy allocated more than 1.1 gigawatts to 88 solar projects that were built without any equipment made in China. The average price per megawatt-hour was 66.38 euro. According to the data of Italy's electricity service agency (GSE), this tariff is 17 percent higher than the average price in a renewable auction held earlier this year…
Gascade Converts Pipelines for Alternative Marine Fuels
German gas grid operator Gascade on Thursday said it has converted a 400 km (249 miles) high-pressure pipeline to transport low-carbon hydrogen southwards from the Baltic Sea as part of a European core network to ship alternatives to fossil fuel.New hydrogen pipelines, or conversions of existing ones…
Sembcorp, the Singaporean energy giant, has taken over Alinta Energy for $4.3 billion.
Sembcorp Industries announced on Thursday that its unit would?acquire?Alinta Energy at a cost of A$6.5 billion (4.32 billion dollars), making it one of the biggest overseas expansions in the history for the Singaporean firm. Alinta Energy was acquired by Chow Tai Fook Enterprises. The energy…
Spot prices rise on lower wind output
The European power prices for the day ahead of Friday increased on Thursday, as it is expected that a decline in wind power supply will have a "bullish" effect. LSEG analyst Xiulan he said that the signal for Germany is bullish based on a significant fall in wind supply. Imports are expected to continue throughout the day.
Prices rise dramatically on lower wind volume
The European spot electricity prices rose on Wednesday due to forecasts of lower wind power generation, which overrode?effects from slightly higher solar power and nuclear power output. In a research note for the day ahead, LSEG analyst Xiulan said that "the signal?is bullish" for Germany. He added that France is also affected by this wind downturn.