Latest Energy News
Policy & Regulatory
Manitoba (Canada) implements flat CAD25/t carbon tax
9 Mar 2020The Canadian province of Manitoba (1.4 million inhabitants) has decided to introduce a flat CAD 25/tCO2 (US$19/tCO2) carbon tax as of 1 July 2020, and to cut the provincial sales tax (PST) from 7% to 6%, saving Manitobans CAD325m/year (US$242m/year), i.e. CAD40m (US$30m) more than the cost of the carbon tax.
Read moreGermany may miss its climate target for 2030
9 Mar 2020According to the German Federal Environment Ministry, the country’s 2030 climate protection programme is expected to reduce Germany’s greenhouse gas (GHG) emissions by 51% by 2030 compared to 1990 (from 1,252 MtCO2eq in 1990 to 614 MtCO2eq in 2030), falling short to achieve the target of at least 55% reduction by 2030 (down to 543 MtCO2eq).
Read moreIndonesia to cap gas prices for PLN at US$6/MBtu
9 Mar 2020The Ministry of Energy and Mineral Resources of Indonesia plans to cap the price of gas sold to the national power utility PT Perusahaan Listrik Negara (PLN) at maximum of US$6/MBtu, against a current price of US$8.4/MBtu. Gas prices will also be lowered for industrial customers from around US$8-9/MBtu to US$6/MBtu, in order to reduce their energy costs. To offset gas sellers, the government intends to reduce the revenue it collects from gas producers’ contracts, when market prices for natural gas are higher than the cap.
Read moreCompanies
OMV and Gazprom delay Siberian assets sale (Russia)
9 Mar 2020OMV and Gazprom have agreed to extend negotiations over the planned acquisition of Siberian gas blocks in Russia until June 2022. The signing of the final transaction documents was expected by the end of 2019.
Read moreFPL (US) will develop 1.5 GW of solar capacity by mid-2021
6 Mar 2020The Florida Public Service Commission (FPSC) (United States) has approved Florida Power & Light Company’s (FPL) plans to launch its community solar program SolarTogether. As part of the plan, FPL will add 20 new solar power plants, totalling 1,490 MW, by mid-2021 for a construction cost of US$1,752m (US$1,176/kW). The 20 parks will be divided into 5 groups with an individual project capacity of 74.5 MW.
Read moreForecasts
Colombia expects to exceed its 2022 renewable power target
9 Mar 2020According to the Ministry of Mines and Energy of Colombia, the share of renewables in the country’s power mix will reach 12% in 2022, exceeding the 10% target set for 2022 in the National Development Plan 2018-2022. This share stood at less than 2% in 2018, but more than 2.5 GW of new wind and solar capacity are expected to be commissioned over the 2020-2022 period. In addition, electricity companies buying energy from wholesale markets will be obliged to buy 8% to 10% of their electricity purchases from non-hydropower renewable sources.
Read moreInfrastructure & Investments
Bradwell B nuclear project planning application expected in 2022 (UK)
9 Mar 2020A planning application for the 2.2 GW Bradwell B nuclear plant in Essex (UK) is expected to be submitted to the British National Infrastructure Planning Inspectorate in 2022. The institution will review the application in 28 days once it received it.
Read moreOrsted selects SGRE turbines for 1.1 GW of German offshore wind projects
9 Mar 2020Ørsted has conditionally selected Siemens Gamesa Renewable Energy (SGRE) as the preferred turbine supplier for the 900 MW Borkum Riffgrund 3 and the 242 MW Gode Wind 3 offshore wind projects in the German North Sea. SGRE would deploy its new SG 11.0-200 DD offshore wind turbine and would be in charge of a five-year service and maintenance agreement.
Read moreACWA Power will build a 1 GW wind project in Uzbekistan
9 Mar 2020Saudi power project developer ACWA Power has signed an agreement with the Ministry of Energy of Uzbekistan to develop a wind park project, with a capacity between 500 MW and 1 GW. The project could cost between US$550m and US$1.1bn. The wind project is part of a larger agreement between ACWA Power and Uzbekistan, which includes the construction of a 1.5 GW CCGT plant, for which the Saudi company has been granted a 25-year power purchase agreement. It would require an investment of US$1.2bn.
Read moreEnergy & Climate Markets
OPEC recommands 1.5 mb/d oil production cut until mid-2020
6 Mar 2020The Organization of the Petroleum Exporting Countries (OPEC) has met and proposed a further cut in crude oil production, after the coronavirus outbreak curbed global oil demand growth forecast for 2020 from 1.1 mb/d (December 2019 forecast) to 0.48 mb/d in 2020. Accordingly, the OPEC conference will recommand a further adjustment of 1.5 mb/d until 30 June 2020 to the next OPEC and non-OPEC meeting; the cut would be applied pro-rata between OPEC members (1 mb/d) and non-OPEC producing countries (0.5 mb/d).
Read more
No Comment