Latest Energy News
Policy & Regulatory
Indonesia plans to revise feed-in tariffs to promote renewable electricity
10 Feb 2020Indonesia is considering revising its feed-in tariff (FiT) system and dividing feed-in tariffs into two stages: a fixed electricity tariff guaranteed over a 12-year period, followed by a lower tariff as of the 13th year and until the end of the contract. The measure would apply to new hydropower, solar and wind power plants and is expected to ensure developers faster returns on investments and to boost the development of renewable projects.
Read moreUK plans to phase out coal-fired power generation by end-2024
10 Feb 2020The British government has decided to bring forward the deadline for phasing out coal from the country’s energy system by one year, from October 2025 to 1 October 2024. The government will launch a consultation on advancing the deadline for ending unabated coal by one year.
Read moreCanada will raise CAD2.8bn from federal carbon tax in 2019-2020
7 Feb 2020According to the Parliamentary Budget Officer of Canada, the Canadian government is expected to collect CAD2.81bn (US$2.1bn) in direct revenue in 2019-2020 from its federal carbon tax currently set at CAD 20/t (US$15/t). With the carbon tax level raised to CAD 50/t (US$38/t) in 2022-2023, revenues would then rise to CAD 8.27bn (US$6.2bn). However, Canadian households will receive 90% of the revenues from the fuel charge proceeds, i.e. more than they initially pay.
Read moreJapan sets solar PV feed-in tariffs for the 2020-2021 year
7 Feb 2020The Japanese Ministry of Economy, Trade and Industry (METI) has released provisional solar PV feed-in tariffs (FiTs) for the next financial year (April 2020-March 2021). The feed-in tariff rate for solar PV systems below 10 kW is set at JPY21/kWh (US$19c/kWh). For PV projects between 10 kW and 50 kW, the tariff is fixed at JPY13/kWh (US$12c/kWh) and for projects between 50 kW and 250 kW at JPY12/kWh (US$11c/kWh). FiTs for large scale PV projects (>250 kW) have been shifted to a tendering program initiated by the METI.
Read moreCompanies
Equinor (Norway) reached record oil and gas production in late 2019
10 Feb 2020Norwegian oil and gas company Equinor has released its 2019 results, announcing a record high production over the last quarter of 2019 thanks to the start of the Johan Sverdrup oil field in October 2019 that added more than 350,000 bbl/d to the group’s output. Oil and gas production averaged 2,074 mboe/d during 2019 (-2% on 2018), due to a lower liquid production (-5% in Norway and -1% abroad) while gas production remained stable (-3% in Norway but +7% abroad).
Read moreVattenfall plans to invest €2.4bn wind power in 2020-2021
10 Feb 2020The Swedish energy group Vattenfall has released its 2019 results, posting a stable power generation in 2019. Vattenfall generated 130 TWh of electricity in 2019 (stable on 2018) and sold 89.5 TWh of electricity in 2019 (+1.3%), mainly to business customers (55 TWh), and 54 TWh of gas (-2.3%). Vattenfall’s Power Generation business unit (conventional production) posted a 1.7% decrease in power generation in 2019 to 89 TWh, due to a 3% decline in nuclear power generation.
Read moreBrazilian bank BNDES sells shares of Petrobras
10 Feb 2020The Brazilian state-owned development bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES) has raised BRL 22bn (US$5.2bn) from the sale of 734 million common shares in the national oil company Petrobras, representing 5.6% of the company’s share capital. The price of the global share offering was set at BRL 30 per common share and institutional investors acquired 83% of the offering.
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