Latest Energy News
Policy & Regulatory
Austria and Lombardy (Italy) approve solar+storage investment grants
13 Mar 2020The Austrian OeMAG energy agency has launched €36m investment grant scheme for small-scale solar PV installations up to 500 kW and electricity storage systems up to 60 MWh. Rooftop solar installations will receive €24m in rebates (maximum grant of €250/kW for solar capacities) and storage systems will receive the remaining €12m (€200/kWh of storage). This measure is expected to raise rooftop solar capacity in Austria by 100 MW and storage capacity by 60 MWh.
Read moreThe UK freezes carbon tax at £18/tCO2eq for 2021-22
13 Mar 2020The British government has decided to continue freezing its carbon tax called the Carbon Price Support (CPS) at £18/tCO2eq (€20.4/tCO2eq) until April 2022. The CPF, a carbon tax paid by power plants and CHP plants via the Climate Change Levy, was introduced in 2013 in response to the low price of carbon certificates, as part of the United Kingdom’s effort to reduce its CO2 emissions.
Read moreChina to halve subsidies for new solar capacity in 2020
13 Mar 2020The Chinese government will halve the 2020 subsidies budget for new solar capacity and to end state funding to new offshore wind parks. China’s National Energy Administration (NEA) plans to set aside CNY1.5bn (US$213m) to support new solar projects in 2020, of which CNY1bn will be awarded to large-scale power plants through auctions. Subsidies for new onshore wind parks are expected to end in 2021.
Read moreEU will launch a Clean Hydrogen Alliance in the summer 2020
13 Mar 2020The European Commission has released its new industrial strategy for Europe, considering industry and energy-intensive industrial branches as key players in making the European Union climate-neutral by 2050. Industry should help create lead markets in clean technologies (such as zero-carbon steel making process) and should focus on energy efficiency to reduce greenhouse gas (GHG) emissions across industry.
Read moreEU’s new Energy Performance of Buildings Directive enters in force
12 Mar 2020Since 10 March 2020, EU Member States are required to transpose into national law the new EU rules on the use of energy in buildings, and to implement national long-term building renovation strategies to decarbonise their existing building stocks by 2050 under the amended Energy Performance of Buildings Directive (EPBD). The EU building energy efficiency rules are now applicable in all EU countries.
Read moreAngola plans to remove fuel price subsidies
12 Mar 2020The government of Angola has announced plans to remove subsidies on fuel prices, though without specifying the implementation schedule. The government estimates that more than US$3.5bn/year are spent on fuel price subsidies and is absorbing the cost of the subsidy on the state-owned oil company Sonangol, which has requested a tax break. In addition, subsidised prices are leading to significant price gaps between Angola and neighbouring countries, and large volumes of fuels are purchased by Angolan taxpayers and sold to neighbouring countries.
Read moreCompanies
Uniper’s electricity sales declined by 13.3% in 2019
13 Mar 2020German energy company Uniper has announced its 2019 full year results. In 2019, the volume of electricity generated by Uniper decreased by 8.7% to 104 TWh, as the group sold its generation business in France. Similarly, its electricity sales declined by 13.3% to 613 TWh, whereas its natural gas deliveries increased by 8% to 2,179 TWh. The company reported an EBIT of €863m (€865m in 2018) and net income of €644m (-€442m in 2018).
Read moreCPFL Energia plans to invest US$3bn in Brazil’s power grids by 2024
13 Mar 2020The Brazilian power generation and distribution company CPFL Energia plans to invest BRL 13.5bn (US$2.9bn) by 2024, including BRL 3bn (US$640m) in 2020. The bulk of this amount will be directed to power distribution, with an investment of BRL 2.2bn (US$471m) in 2020 and a total of BRL 11.6bn (US$2.5bn) by 2024. In addition, CPFL Energia will invest more than BRL 1bn (US$214m) in power generation and BRL 564m (US$120m) in power transmission by 2024.
Read moreUndenna acquires 45% stake in Malampaya gas project (Philippines)
13 Mar 2020Holding company Undenna, through its subsidiary UC Malampaya, has completed the acquisition of Chevron Malampaya, which owns a 45% stake in the Malampaya natural gas project in the Philippines, with Shell (45%) and state-run Philippines National Oil Company (PNOC) (10%). Located in the South China Sea, the Malampaya natural gas project supplies gas to five power plants in Luzon island, with a combined capacity of 3.2 GW.
Read moreInfrastructure & Investments
Santos seeks approval for US$2bn Narrabi Gas Project (Australia)
13 Mar 2020The New South Wales (NSW) Minister for Planning (Australia) has referred Santos’s Narrabri Gas Project to the Independent Planning Commission (IPC) for approval. The instiution has now 12 weeks to decide on the project’s approval once the NSW government officially transfer the assessment to the IPC. The US$2bn Narrabri Gas Project comprises the development of a coal seam gas field over two decade and supporting infrastructure.
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