Latest Energy News
Policy & Regulatory
Japan clears bill to secure emergency electricity supply, renewable premiums
27 Feb 2020The government of Japan has adopted a bill to revise the electricity business law, which intends to secure power in time of disaster, after some parts of the country experienced massive and prolonged power outages in the wake of natural disasters. The text would force power companies to develop contingency plans on working with other utilities, local governments and the Self-Defence Forces.
China requests grid firms to cut their stakes in power trading exchanges
27 Feb 2020The National Development and Reform Commission (NDRC), China’s state planning agency, has requested power grid companies to reduce their participation in the capital of power trading exchanges to less than 80% by the end of June 2020 and to less than 50% by the end of December 2020. The NDRC aims to liberalise the power sector and expand electricity market trading.
Montenegro adopts GHG policy and creates ETS for large CO2 emitters
27 Feb 2020Montenegro has issued a decree to implement its recently adopted (December 2019) legislation on greenhouse gas (GHG) emissions, passing the framework for GHG emission permits, for auctions, and for the transfer of emission credits. The decree specifies which large industrial emitters should take part in a new emission trading scheme (ETS) and determines the total amount of emission credits to be auctioned at a minimum price of €24/tCO2.
Alberta Court of Appeal rules against federal carbon tax (Canada)
26 Feb 2020The Court of Appeal of Alberta (Canada) has ruled that the federal carbon tax is unconstitutional. However, this ruling will not have an immediate effect on carbon taxation in the province. Alberta’s decision will be transmitted to the Supreme Court of Canada, as Saskatchewan has lodged an appeal after the local Court of Appeal decided in favour of the federal government. Ontario also launched a court challenge to the carbon tax.
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Endesa’s coal-fired power generation in Spain fell by 71% in 2019
27 Feb 2020In 2019, Endesa’s installed power capacity in Spain increased by 647 MW to 23,365 MW, as the group commissioned 557 MW of wind capacity and 339 MW of solar PV and retired 227 MW of coal-fired power capacity. The group generated 61 TWh, i.e. 17% less than in 2018, due to a 31% fall in hydropower generation, partly offset by a higher production from nuclear (+9.2%) and CCGT (+43%).
India’s competition commission approves THDC acquisition by NTPC
27 Feb 2020The Competition Commission of India has approved NTPC’s acquisition of the majority stakes held by the Indian Ministry of Power in two power generation companies: NTPC will acquire 100% of North Eastern Electric Power Corporation (NEEPCO), which operates hydropower, thermal (gas-fired) and solar in the north-east of India and 74.5% of THDC India, which operates 1,400 MW of hydropower plants (including the 1,000 MW Tehri-1
Shell starts exploring for new gas resources in Oman
26 Feb 2020Shell has started gas exploration activity in central Oman. The company, together with Total, signed a multi-billion dollar agreement in early 2019 with the government of Oman to finance an integrated gas development, including upstream gas exploration and development, a Gas-to-Liquids (GTL) plant in Duqm, and an LNG bunkering terminal within Sohar Port. No precise amount has been released. Participants include Petroleum Development Oman (PDO) and Oman Oil Company Exploration & Production (OOCEP), an affiliate of OQ (ex-Oman Oil & Orpic Group).
Energy & Climate Markets
US crude oil imports dropped by 33% over 2005-2019
27 Feb 2020According to the US Energy Information Administration (EIA), US crude oil imports dropped by a third between 2005 and 2019, from 10.1 mb/d in 2005 to an average of 6.8 mb/d in 2019. As of November 2019, 2/3 of US crude oil imports were supplied either by Canada or Mexico. With the restrictions on exporting US crude oil lifted in December 2015, crude oil exports increased five-fold over the period 2016-2019, from 591,000 bbl/d in 2016 to 3 mb/d in 2019.
Infrastructure & Investments
AES Gener’s Alto Maipo hydropower project expected in 2021 (Chile)
27 Feb 2020AES Gener plans to commission the 530 MW Alto Maipo hydropower project in Chile in January 2021. The project will consist of two run-of-river hydropower plants, Alfalfal II and Las Lajas, that will be connected to the National Electric System. The grid connection process must start at least 12 months before the estimated commissioning date. Total investment has been raised several times due to technical delays in the construction reaching US$3bn.
WAPDA moves ahead with 4.3 GW Dasu hydropower project (Pakistan)
27 Feb 2020The Pakistan state-owned Water and Power Development Authority (WAPDA) is seeking proposals for a US$244m foreign currency loan to finance the first phase of the 4.3 GW Dasu hydropower project on the main Indus river, in the Kohsitan district of the Khyber Pakhtunkhwa region. The Dasu hydropower project is developed a joint venture between GE Hydro China and Power China Zhongnan Engineering Corporation for US$474m, including US$244m in foreign currency. In 2017, WAPDA secured a PKR144bn (US$933m) local currency loan from a consortium of seven Pakistani banks.
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