Latest Energy News
Policy & Regulatory
NSW (Australia) releases net zero emissions plan by 2050
17 Mar 2020The government of New South Wales (NSW, 8.1 inhabitants) in Australia has released its Net Zero Plan Stage 1: 2020–2030, which aims to achieve net zero emissions by 2050 by attracting investment, cutting residential costs and creating new jobs. It aims at delivering a 35% emissions reduction by 2030 compared with 2005 levels, at a cost of AUD2bn (US$1.2bn).
Read moreChile’s energy efficiency law targets 7% consumption cut by 2035
17 Mar 2020Chile’s new Energy Efficiency Law aims to cut energy consumption by 5.5% by 2030 and by 7% by 2035. It will focus on energy management in large energy consuming sectors, such as cement, mining, forestry and real estate. For buildings, it introduces a voluntary Housing Energy Rating (Calificación Energética de Viviendas or CEV, corresponding to an energy efficiency labelling) that new houses must have to be marketed.
Read moreBerlin (Germany) launches a 4.4 GW solar rooftop plan by 2050
16 Mar 2020The city of Berlin (Germany) plans to develop 4.4 GW of rooftop solar capacity by 2050, covering 25% of the capital city’s electricity demand. As part of the so-called “Solarcity Masterplan”, the local government presented measures to accelerate solar deployment, including regulatory instruments and incentives. Berlin aims to become carbon-neutral by 2050. As of March 2020, Germany’s solar capacity reached 45 GW.
Read moreUK’s 2020 budget plans €2.2bn to cut CO2 emissions
16 Mar 2020The British Treasury has presented a plan to reduce CO2 emissions from the most polluting sectors of the United Kingdom (UK) economy, including industry, transports and heating.
Read moreCompanies
Russia removes last hurdle to Fortum-Uniper merger
17 Mar 2020The anti-monopoly service (FAS) of Russia has granted its final approval to the acquisition of a majority stake (73.3%) in the German energy group Uniper by the Finnish energy company Fortum, paving the way for closing the transaction after two years of deadlock.
Read moreSasol (South Africa) considers asset sales to cut debt
17 Mar 2020South African energy and petrochemicals group Sasol plans to accelerate its asset disposal programme and is considering an equity issue. The company is struggling with cost overruns (+50%) and operational problems at its ZAR 200bn (US$12bn) Lake Charles chemical project in the United States and facing a ZAR162bn (US$9.7bn) debt. In addition, its shares have fallen (68% collapse in the last week), reducing its market value by ZAR 79bn (US$4.8bn).
Read moreEnergy & Climate Markets
Orano plans to operate Arlit uranium project (Niger) for another 10 years
17 Mar 2020French uranium group Orano (former Areva) plans to continue uranium production in northern Niger for at least 10 years. The group aims to continue operating for as long as possible, or at least until the resumption of the Imouraren project.
Read moreLow oil prices incite the US to fill up the Strategic Petroleum Reserve
17 Mar 2020The president of the United States has ordered the US Department of Energy to fill up the Strategic Petroleum Reserve (SPR) with US crude oil, taking advantage of the collapse in global oil prices. Earlier in March 2020, the US administration suspended a planned sale of 12 mbl of crude oil from the SPR, citing adverse market conditions.
Read moreEnergy Prices & Taxes
India raises excise duty on petrol and diesel
17 Mar 2020The Indian government has raised excises and taxes on fuels, in an attempt to offset the loss in revenues from falling global oil prices and weak economic growth. It has increased excise duties on gasoline and diesel by INR 3 (US$4c/l) per litre, special excise duties by INR 2/l (US$2.7c/l) (up to INR 4/l (US$5.4c/l) for diesel and up to INR 8/l (US$10.8c/l) for gasoline), and road cess on gasoline and diesel by INR 1/l (US$1.3c/l) up to INR 10/l (US$13.5c/l).
Read moreInfrastructure & Investments
The EU approves €980m funding for clean energy infrastructure
17 Mar 2020The European Commission has approved €980m in funding from the Connecting Europe Facility (CEF) for some European energy infrastructure projects offering major cross-border benefits. The CEF Energy provides funding for energy projects enhancing security of energy supply in the European Union, contributing to sustainable development and CO2 emissions cuts or promoting efficient and secure network operation. Infrastructure projects with the Project of Common Interest (PCI) status may apply for CEF Energy funding for studies or construction works until 27 May 2020.
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