Daily Energy News
Policy & Regulatory
China plans to launch its national ETS in February 2021
7 Jan 2021China plans to launch its national emissions trading scheme (ETS) in February 2021. Under the new rules, more than 2,200 companies above a cut-off point of 26,000 tCO2eq/year of greenhouse gas (GHG) emissions, equivalent to a consumption of 10,000 tce/year, can start trading their emission quotas from 1 February 2021. The first phase of the ETS will cover 2,267 coal-fired and gas-fired power plants.
Read moreEthiopia’s updated NDC targets 12% GHG emissions cut by 2030
6 Jan 2021Ethiopia has updated its Nationally Determined Contribution (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC). The country is committing to reduce economy-wide greenhouse gas (GHG) emissions by 12.4% in 2030 compared to a business-as-usual (BAU) scenario, using its domestic resources. This would represent a 51.1 MtCO2eq reduction, limiting GHG emissions at 360.85 MtCO2eq in 2030 (compared to a BAU emission level of 412 MtCO2eq).
Read moreGreece will launch a 350 MW solar-wind tender in May 2021
6 Jan 2021Greece’s Regulatory Authority for Energy (RAE) will launch a third combined tender for up to 350 MW of solar and wind power on 24 May 2021; applications for participation will be accepted by 22 March 2021. The Greek authorities intend to allocate solar power projects with a generation capacity of up to 20 MW, along with wind power plants up to 50 MW. The auction will have a €53.86/MWh price ceiling for the energy generated.
Read moreCompanies
The EC allows ČEZ to sell a power assets portfolio in Romania
7 Jan 2021The European Commission has authorised, under the EU merger regulations, Macquarie Infrastructure and Real Assets (MIRA) to acquire a portfolio of power assets in Romania from the Czech state-owned power utility ČEZ Group, considering that the proposed acquisition would not raise any competition concerns.
Read moreAES sells stake in 1.2 GW Mong Duong 2 coal-fired power plant (Vietnam)
7 Jan 2021The AES Corporation has signed an agreement to sell its entire stake in the 1,242 MW Mong Duong 2 coal-fired power plant in Vietnam to a consortium led by a US-based investor. AES is the majority shareholder with a 51% stake in the plant, in partnership with POSCO Power’s subsidiary PSC Energy Global (30%) and China Investment Corporation’s subsidiary Stable Investment Corporation (19%).
Read moreNRG Energy completes acquisition of Centrica’s US retail energy assets
7 Jan 2021The US energy group NRG Energy has completed the acquisition of Direct Energy from the UK energy group Centrica. In July 2020, Centrica reached an agreement with NRG Energy, under the terms of which Centrica would sell its North American energy supply, services, and trading business, Direct Energy, to NRG Energy for US$3.6bn in cash. Direct Energy is one of the largest retail providers of electricity, gas, and energy-related services. The company operates in 50 US states, the District of Columbia, and 8 Canadian provinces, serving more than 4 million customers in North America.
Read moreEDF’s nuclear output in France declined by 12% in 2020
6 Jan 2021EDF’s nuclear output declined by 12% to just over 335 TWh in 2020. In 2019, nuclear power generation in France dipped by 3.5% to 379.5 TWh, missing its 384-388 TWh target. In January 2020, the group announced a target of up to 395 TWh for the year but it soon revised it to 375 TWh in a context of pandemic-related crisis. In April 2020, EDF cut again its 2020 nuclear output estimate in France by 20% to 300 TWh, before forecasting a higher nuclear production in July 2020 (around 315-325 TWh, i.e. +5 to 8%) and in October 2020 (325-335 TWh).
Read moreEnergy & Climate Markets
OPEC+, Saudi Arabia unveil oil production targets for February-March 2021
7 Jan 2021The OPEC+ has agreed to gradually return 2 mb/d to the market and reconfirmed its decision to increase production starting in January 2021 and to adjust the production reduction from 7.7 mb/d to 7.2 mb/d. Under the agreement, most of OPEC+ oil producers will maintain their current production level, while Russia and Kazakhstan will raise their crude oil production by a combined 75,000 bbl/d in February 2021 and a further 75,000 bbl/d in March 2021. On the contrary, Saudi Arabia has pledged extra, voluntary oil output cuts of 1 mb/d in February and March 2021.
Read moreRenewables accounted for 44% of Spain’s power mix in 2020
7 Jan 2021According to the Spanish power transmission system operator (TSO) Red Eléctrica de España (REE), the country’s electricity demand decreased by 5.5% in 2020. Renewable power generation in Spain reached 111 TWh in 2020, accounting for 44% of total production (22% from wind, 12% from hydro, and 8% from solar). Including nuclear (22%), CO2-free power generation accounted for 66% of the power mix in 2020.
Read moreInfrastructure & Investments
The Permian Highway gas pipeline enters commercial operations (US)
7 Jan 2021The 2.1 bcf/d (21.6 bcm/year) Permian Highway gas pipeline has entered commercial operations. The 430 miles (692 km) pipeline, which is fully subscribed under long-term contracts, links up the Waha area in Texas to the US Gulf Coast and Mexico markets. The project has an estimated cost of US$2bn. Kinder Morgan Texas Pipeline (KMTP), a subsidiary of KMI, is the operator of the pipeline. KMTP, EagleClaw Midstream and Altus Midstream each hold a stake of 26.7%, and an affiliate of an anchor shipper has a 20% interest.
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