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Electric Utilities

Former US nuclear regulators condemn Trump's firing NRC commissioner

On Tuesday, nearly 30 former employees and officials at the U.S. Nuclear Power Regulator criticized President Donald Trump for firing a commissioner from the independent agency. They said that the action placed politics above safety and public health. Why it's Important The firing of Chris Hanson this month, a Democrat at the five member Nuclear Regulatory Commission, followed Trump's Executive Orders on accelerating the Agency's reactor approvals, as artificial intelligence (AI) and data centers are driving the first increase in U.S. energy demand in 20 years. These orders also included efforts to restructure NRC and evaluate its staffing levels. Experts...

Electric Utilities

Adani, the Indian billionaire, says that no one in his group has been charged with US FCPA violations

Adani Group chairman Gautam Adani denied on Tuesday any wrongdoing as a response to U.S. accusations of bribery. He told shareholders that no one from the group had been charged under U.S. Foreign Corrupt Practices Act. Adani stated at the annual general meeting of the company that "despite all the noise no one in the Adani Group was charged with violating FCPA or conspiring against justice." He said that the Adani Group had never given up, despite the constant scrutiny and storms. Adani, along with several other executives, were indicted by U.S. authorities on November 28, alleging that they had...

Fossil Fuels

Rosatom will explore the construction of a high-capacity reactor in Uzbekistan

Rosatom, the state-owned nuclear corporation of Russia, signed a deal with Uzbekistan’s Atomic Energy Agency on Friday to examine the feasibility and cost of building a nuclear power plant capable enough to generate large amounts in this Central Asian nation. Rosatom has already planned to build smaller nuclear units in Uzbekistan. The agreement was signed with the Uzbek Government at the St. Petersburg International Economic Forum. Over the weekend, the Kazakh government also asked the Russian energy company to lead a group to build the country's first nuclear power station. The five former Soviet Central Asian republics do not have...

Electric Utilities

Hurricane Erick weakened over Mexico and left a trail of destruction in its wake

Hurricane Erick has weakened since it slammed into Mexico's south Pacific coast on Thursday as a major storm. It left behind a trail that included damaged businesses, wrecked vessels and flooded streets, as authorities warned about the dangers of heavy rain. Erick, a Category 3 Hurricane, made landfall in the area of Puerto Escondido at around 5:30 am local time (1130 GMT). Later, it was downgraded to Category 1, as the storm moved inland. The sustained winds slowed to 85 mph (137 km/h). In coastal towns, residents began clearing debris. Eduardo Gonzalez, a fisherman in Puerto Escondido, said that there...

Renewable Energy Equipment

Solar stocks fall on Senate proposal of phase-out tax credits by 2028

U.S. Solar stocks fell in premarket trade on Tuesday, after a Senate committee proposed to phase out solar and wind credits by 2028. This proposal was part of President Donald Trump's tax-and spending bill. Enphase Energy, a manufacturer of solar inverters, was one of the largest decliners among S&P 500 companies. Its stock fell 20.9% from $36.35 to $36.35. SolarEdge Technologies and Sunrun, both solar panel suppliers, each fell more than 30%. First Solar fell 17.3%. A Senate committee circulated a draft bill that amends Trump's 'One Big, Beautiful Bill Act', which the House narrowly approved last month. Pavel Molchanov,...

Electric Utilities

IMF: Sri Lanka's economic reforms have 'no room' for mistakes, according to the IMF

Sri Lanka's economic reform program, which is supported by the IMF, has seen significant progress, but there's still more to be done in order to reduce poverty, corruption, and domestic debt. The IMF's No. 2 official stated Monday. Gita Gopiath, the first deputy managing director at the International Monetary Fund (IMF), said that Sri Lankan reforms tested the social fabric of the country, but they also helped to pave the way for an even more resilient future. Sri Lanka has made a strong recovery since March 2023, when it secured a four-year loan from the global lender. In April, the...

Fossil Fuels

Temasek, BlackRock, and MGX join forces to create AI infrastructure

According to BlackRock's Thursday investor day presentation, Temasek is part of a consortium backed Microsoft, BlackRock, and the tech investment company MGX, which aims to expand and invest in artificial intelligence infrastructure. Slides showed that the Singapore state investment firm has joined AI Infrastructure Partnership. This group also includes BlackRock Global Infrastructure Partners. AIP was formed in September, with the goal of investing more than $30 billion initially in AI-related project. It is one of world's biggest efforts to invest data centres and energy infrastructure needed to power AI apps such as ChatGPT. The aim is to mobilize up to...

Climate Change

Fear of a 'deadly summer' fuelled by looming energy aid cuts

US Energy Aid Program Helps Six Million Low-Income Americans Budget talks bring balance to future of programs Increasing number of cities require working air conditioning By Carey L. Biron Experts warn that the combination of climate change and increased summer temperatures could be deadly for communities in poverty. In April, the Department of Health and Human Services, which oversees the LIHEAP program, fired the staff of the federal Low-Income Home Energy Assistance Program. Trump's budget plan for the following month recommended eliminating LIHEAP entirely, stating that it was "unnecessary" because states have policies to prevent utility disconnection of low-income families....

Power Markets

Talen Energy and Amazon Sign Nuclear Power Deal to Fuel Data Centers

Talen Energy, a U.S. utility company, announced Wednesday that it has expanded its nuclear energy partnership agreement with Amazon.com. The two companies will supply electricity up to 1,920 Megawatts from the Susquehanna power plant in Pennsylvania to Amazon Web Services data centers. Why it's important Talen will receive a long-term, steady revenue stream until 2042. This deal also supports Amazon's increasing demand for carbon-free power to run its AI and cloud operations. Both companies will explore the possibility of building Small Modular Reactors in Talen's Pennsylvania footprint, and expand the energy output from this nuclear plant. CONTEXT The U.S. demand...

Power Markets

Oklo closes in on nuclear agreement with US Air Force

Oklo, an American company that hopes to build micro-nuclear power plants, announced on Wednesday that the Energy Logistics Agency of the Defense Department had issued a Notice of Intent to Award a Power Purchase Agreement for a Pilot Reactor. Why it's important After President Donald Trump's executive orders on nuclear power last month, companies that produce nuclear power are now seeking U.S. government contracts. Trump's first administration also included a directive to agencies to build small nuclear reactors at military bases, but no plants were built. Oklo’s project for Air Force could produce up to 75 Megawatts of electricity as...

Power Markets

B. Grimm Power in Thailand and Digital Edge, Singapore to invest $1 Billion in Thai data center

The companies announced in a Monday statement that they will invest $1 billion into a 100 megawatt data center in Thailand. Southeast Asia and its neighbours are becoming a popular destination for tech companies looking to invest in data centres and digital infrastructure. They want new clean energy sources to meet the soaring demand of artificial intelligence. The announcement on Monday was the latest of a series by tech giants to invest in Thailand. Bytedance Tiktok will invest $8.8 billion in five years, and Alphabet Inc.'s Google is also planning an $1 billion facility. The Thai Investment Board approved in...

Environment

Meta signs power deal with Constellation Nuclear Plant

Meta Platforms announced on Tuesday that it had reached an agreement with Constellation Energy, which will keep a reactor in Illinois operational for the next 20 years. This is the first time a Big Tech company has made a deal with atomic power plants. Share Reaction Constellation Energy's shares rose 13.4% in premarket trading to $355.5. Why it's important The Big Tech Companies are seeking to secure electricity, as the U.S. demand for power has risen for the first two decades due to artificial intelligence and data centres. Illinois helps to subsidise Constellation's Clinton Clean Energy Center nuclear plant with...

Europe

Electric Utilities

Britain's Industrial Strategy cuts green levy for lower energy bills

The British industrial strategy, which was made public on Sunday, will lower green levies and energy bills to thousands of companies in an effort to increase the competitiveness of steel companies and other manufacturers. Under the strategy for the decade 2025-2035, the government plans to cut the bills of electricity-intensive industry by up to 25% from 2027, which it said could benefit more than 7,000 businesses. The government's priority is to boost Britain's anaemic economic growth. The high energy costs faced by many businesses were cited as a major obstacle by lawmakers and business leaders. The United States under Donald...

Fossil Fuels

UK industrial plan focuses on clean energy and advanced manufacturing

The UK's industrial strategy, published on Monday, outlines a key reform that will reduce the electricity bills for thousands of businesses by 2027. Below are the main components of its plan. ADVANCED MACHINING Up to 3.76 billion pounds (2.8 billion pounds) will be invested in R&D programs over the next 5 years to stimulate innovation, automation and digitisation. CLEAN ENERGY INDUSTRIES By 2035, Britain aims to double the current levels of investment in clean energy industries. CREATIVE INDUSTRIES Create a 150-million-pound fund for growth and provide financial support to screen, music and video games. LIFE SCIENCES Making Britain the third...

Energy Markets

Next week, nuclear production will be affected by high temperatures in the French River

Nuclear operator EDF announced in a Friday notice that high water temperatures will affect electricity production along the Rhone River in eastern France starting June 25. This is especially true at the Bugey nuclear power plant with a 3.6 gigawatt capacity. The first warning of high temperatures on rivers in France for 2025 is here. Heatwaves can impact the environmental regulatory thresholds for cooling water going through the system, and then being discharged. Meteo France's data shows that a heatwave will sweep across France this weekend. Temperatures could reach as high as 38 deg Celsius (100.4degF), in the south. The...

Western Europe

East Asia

Fossil Fuels

Kazakh agency reports that Rosatom will lead consortium for first nuclear power plant to be built in Kazakhstan

The atomic energy agency of Kazakhstan announced on Saturday that Rosatom, Russia's nuclear state corporation, has been selected to lead a consortium for the construction of the first nuclear plant in Kazakhstan. The state-owned China National Nuclear Corporation as well as French or South Korean companies also submitted proposals. Kazakh Atomic Energy Agency, which was established in March this year, has said that it has reviewed and evaluated various reactor technologies based on criteria such as nuclear plant safety, training of personnel, and other factors. It said that "the agency determined that the most advantageous and optimal proposals for construction...

Mining

HK-listed Chinese stocks near a one-month low; offshore yuan falls on tariff concerns

Chinese stocks listed on Hong Kong's stock exchange fell to a near-month-low on Monday, and the offshore yuan also dropped as tensions between China and the United States over tariffs continued to weigh on sentiment. The tensions between the U.S. and China over trade have risen again after a new spat about tariffs. China's Commerce Ministry has rebuked U.S. president Donald Trump's allegations that Beijing violated the Geneva consensus, calling them 'groundless' and vowing to take 'forceful measures' to protect its legitimate rights. Treasury Secretary Scott Bessent announced over the weekend that U.S. president Donald Trump and Chinese president Xi...

Electric Utilities

NextDecade: JERA signs 20-year LNG Supply Deal

NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had signed a deal for supplying Japan's largest power generator JERA 2 million tonnes of LNG per year from the fifth liquefaction plant in its Rio Grande Project. Early trading saw NextDecade shares up 5.5% to $8.11. The United States will be the largest LNG exporter in the world in 2024. It is expected to ship 11.9 billion cubic foot per day. This has been boosted by President Donald Trump lifting a moratorium in January on new export licenses. NextDecade’s deal with JERA - Japan's largest LNG buyer...

Electric Utilities

Oklo, South Korea's KHNP enter into agreement to develop Aurora nuclear facility

Nuclear technology company Oklo announced on Tuesday that it had signed a Memorandum of Understanding (MOU) for the development of Oklo’s planned Aurora powerhouse with South Korea’s nuclear plant operator Korea Hydro & Nuclear Power. In morning trading, shares of Oklo rose 1.9% to $49.71. Oklo said that the MOU also outlines plans for collaboration on the development of advanced nuclear technology worldwide. The nuclear industry is in high demand because it's considered a cleaner fuel source and more reliable than solar or wind energy. The U.S. president Donald Trump signed Friday executive orders to jumpstart nuclear industry. These orders...

Fossil Fuels

Australia's Origin Energy lowers its forecast for UK business, shares fall

Origin Energy, Australia, downgraded its annual forecast on Monday due to the unseasonably warm temperatures in Britain during March and April, as well as one-off effects. This sent its shares to an almost one-month-low. The shares of the Sydney-based firm fell by around 4.4% at 0508 GMT after reaching their lowest level since the first of May earlier in the day. The benchmark ASX200 index was flat. Origin now expects to lose up to A$100m ($65.19m) on its annual earnings before taxes, interest and depreciation. Origin estimated that it could contribute up to A$100m, while the EBITDA was only A$55m...

Power Markets

Battery shifts to nickel and cobalt as a result of the energy storage boom

Fidra Energy's plan to convert a 55-acre patch of countryside in northern England into Europe's biggest energy storage facility, a 1,45 gigawatt one once complete, was far from finalized when it acquired the land in 2023. Chris Elder, CEO of the Edinburgh-based firm, said, "We struggled to make economics work." The cost of the batteries used in this project has been roughly halved over the last 18 months. Fidra plans to begin installing battery units in its Thorpe Marsh 600-million-pound ($800 million) project next year. LFP batteries have fueled a boom in energy-storage projects, which - in terms of percentage...

Electric Utilities

RPT-Buffett will step down from his position as CEO of Berkshire after 60 years, and pass the baton to Abel

Warren Buffett, perhaps the most famous investor in the world, is retiring at the end 2025. He will hand over Berkshire Hathaway's reins to vice chairman Greg Abel. This move marks the end of an era at Berkshire following Buffett's 60-year reign, during which he became a household brand, a multibillionaire, and an American success. Buffett, who is 94 years old, stated on Saturday that "I believe the time has come where Greg will be the CEO of the company by year's end." He wrapped up Berkshire Annual Meeting in Omaha Abel would have the final word, he said. He...

Electric Utilities

Indian regulator accuses Adani's nephew in an insider trading case. He seeks to settle

India's market regulator alleges that Pranav Adani, the director of several Adani Group companies and the grandson of the billionaire founder of the group, has shared sensitive price information and violated regulations designed to prevent insider trading. Adani, nephew of Gautam Adani was sent a warning by the Securities and Exchange Board of India last year. The notice alleged that he had shared information with his brother-in law about the 2021 acquisition of SoftBank's SB Energy Holdings by Adani Green before the deal announcement, according to the document and a source. This matter was not previously reported. In an email...

Crude Oil

QatarEnergy talks LNG long-term supply agreement with Japan

Five trading and industry insiders have confirmed that QatarEnergy is in negotiations with Japanese companies for a long term deal to supply LNG through its North Field Expansion Project. Four sources confirmed that under the agreement, Qatar would supply gas to a group of Japanese importers. A volume of 3 million metric tonnes per year would be divided between the consortium. If the agreement is reached, it will help confirm Doha’s decades-old dominant position on the Japanese market as the competition from the United States, and neighbouring Gulf suppliers United Arab Emirates and Oman that offer more flexible contractual terms,...

Electric Utilities

Taiwan reports $13 billion in losses to power utilities due to the freezing of electricity prices

Taiwan won't raise electricity prices at this time due to global uncertainty about the impact of trade policies and geopolitical risk. However, the government will ask parliament for funds to help the state-run energy firm stem losses worth nearly $13 billion. In order to limit inflation, the government has heavily subsidised energy. However, it did increase power prices between September and April last year. After a meeting with its committee to review electricity prices on Friday, Taiwan's Economy Ministry said that the members "carefully examined the impact of electricity bill on prices and decided that electricity prices will not be...

Electric Utilities

Engie Brasil buys two hydropower plants for $523 Million

According to a filing with the Securities Commission, Engie Brasil announced on Friday that it had signed a deal to purchase two hydropower plants in northern Brazil. The price was estimated at 3 billion reais (532 million dollars). Engie Brasil has acquired the entities that hold concessions for the Cachoeira Caldeirao Plant, located in Amapa State, and the Santo Antonio do Jari Plant, which is on the border between Amapa and Para States. The concessions expire in 2048 and respectively 2045. Together, the assets being sold by EDP Energias do Brasil, China Three Gorges Energia and others have 612 Megawatts...

Fossil Fuels

China wants to know your opinion about the rules for imports, including battery waste and recycled steel

The Environment Ministry announced on Tuesday that China is seeking public opinion regarding rules for the importation of leftovers from the recycling spent lithium-ion batterys, as well recycled steel materials. The deadline for comments was set at March 20, in accordance with China's desire to speed up recycling efforts. This is reflected in the establishment of the China Resources Recycling Group, a group that focuses on recycling in the city of Tianjin, located in the north of the country. According to the proposal of the Ministry of Ecology and Environment, black mass, which is a mixture of nickel and cobalt...