Latest News
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Ameren exceeds its quarterly profit expectations on higher electricity prices
Ameren Corp, a utility company, narrowly beat Wall Street's?estimates of fourth-quarter profits on Wednesday. This was?helped?by higher electricity rates and strong retail sales? in its Missouri unit, sending...its?shares...up over 3% during extended trading. Utilities are aiming to pass on higher grid-modernization cost to their customers by raising power rates. Extreme weather, increased demand for industry electrification, and the expansion of data-center buildsouts?all put pressure on the nation's electricity networks. The U.S. electricity consumption reached a record high?in 2025, and it is expected to rise this year. This will be driven by the expansion of AI and the shift of households and businesses from fossil fuels into electric heat and vehicles. The company also confirmed?its profit forecast for 2026 of $5.25 to 5.45 per share. Ameren Missouri reported an electric sales volume of 8,405 millions kilowatt-hours, up from 7,806 last year. According to LSEG data, the utility reported a fourth-quarter revenue?? of $1.78 billion. This was higher than analysts' estimates of $1.67billion. The revenue from the gas?segment increased to $337 millions, up from $321million a year earlier. The Missouri-based St. Louis company posted a profit per share of 78 cents for the quarter that ended December 31. This was just a fraction higher than analysts' expectations?of 77cents per share. Ameren Missouri, Ameren Illinois and their rate-regulated utilities serve 2.5 million electric customers and over 900,000. (Reporting and editing by Anmol Choubey in Bengaluru, Sumit Saha from Chicago)
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Trump orders Energy Department to provide funds to maintain coal plants online
In his latest effort to boost the coal sector, President Donald Trump ordered on Wednesday that the Defense Department purchase electricity from coal-fired?power?plants. The Pentagon is required to sign purchase agreements with coal-fired power stations for an undisclosed amount. This executive order was issued by the White House. The Energy Department announced $175 million in upgrades for six coal plants located in Kentucky, North Carolina?Ohio?, Virginia?and West Virginia. Utilities have been phase out coal-fired generators, which are major contributors to carbon emissions linked to climate change. Trump, who called climate change a "hoax", has promised to speed up energy infrastructure in order to meet the rising demand for electricity from artificial intelligence and data centres. Trump declared an "energy crisis" to justify his decision to exempt coal plants older than 30 years from air pollution regulations and to keep them open. Trump has also removed the tax incentives for wind and solar energy projects, and his administration has slowed down permits for renewable energies on federal, private and state land. Trump will 'undo' the legal basis for most major greenhouse gas regulations in the Environmental Protection Agency on Thursday. This is called the Endangerment Finding. This will be 'the largest deregulatory measure in U.S. History,' according to the EPA administrator. Trump announced on Wednesday that the Tennessee Valley Authority, the nation's largest?utility and the country’s largest public utility, will delay the closure of two older coal-fired?power plants in Tennessee. Reporting by Trevor Hunnicutt, Valerie Volcovici and Bhargav Asharya. Writing by Bhargav Aharya. Editing by Daphne Psaledakis and CaitlinWebber. David Gregorio.
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Albemarle shuts down Australia's lithium plant following profit miss
Albemarle is the world's biggest producer of lithium. It posted a?larger-than-expected loss on Wednesday. The company also announced that it would be?idling a major Australian?processing?plant due to its continued?struggle with low prices for battery metal. After-hours trading saw shares of the Charlotte-based company fall 3.1%. Prices of lithium have fallen by more than 90 percent in the last two years, largely due to an oversupply coming from China. This has led to layoffs, buyouts, and project delays at Albemarle, and other companies. Prices have increased in recent months but remain below the all-time highs of 2023. Albemarle announced that it will idle the last active processing unit or train at its Kemerton plant in Western Australia, after closing another train at the site last yea. The company has also cancelled?plans for adding two?new trains. In a recent statement, CEO Kent Masters stated that "Unfortunately the recent lithium price improvement alone is not enough to offset challenges facing Western hard rock lithium conversion operations." Kemerton processed spodumene (a type of hardrock containing lithium) from the Greenbushes Mine, the largest lithium mine in the world, which Albemarle owns jointly with China's Tianqi Lithium. Albemarle's net loss for the quarter ending December 31 was $455.9?millions, or $3.87 a share. This compares to a profit of 33.6%?millions, or 29 cents per share in the previous quarter. Albemarle's loss per share was 53 cents excluding one-time items such as charges related to the sale of its Ketjen catalyst refining business. According to LSEG's?IBES, analysts had expected a loss per share of 41 cents. Albemarle's sales of lithium products grew by?23%, despite the fact that prices were still weak. The company will hold a conference call on Thursday morning to discuss its quarterly results. (Reporting and editing by Chris Reese, Sonali Paul, and Ernest Scheyder)
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Anthropic will shoulder some of the costs when data center expansions threatens to increase power bills
Anthropic, a company that specializes in artificial intelligence (AI), announced Wednesday initiatives to 'limit the impact of data centres on consumer energy prices'. This is due to increased investments in infrastructure power-hungry required for AI technology. Anthropic will cover all grid upgrade costs needed to connect their data centers by raising its monthly electricity charge, thus preventing these costs from being passed onto consumers, according to the company. Local communities have concerns about the AI race. While Big Tech leaders and politicians in the U.S. call for a "rapid expansion" of data centers and a new energy production, they are not the only ones. Americans are concerned about the impact of these power-hungry plants on their utility bills, and how they might use land, water and other natural resources in the area. Anthropic will "bring new energy generation" and add grid capacity in order to meet the data center's electricity needs. It will not buy credits or contract for existing capacity. Anthropic said that it will work with external experts and utilities to calculate and offset the demand-driven price effects from its data centres where new power generation is not online. Microsoft announced similar measures last month when it said that the cloud giant would pay high utility rates to cover its power costs. It also worked with local utilities to increase supply for their?data centres when necessary. Anthropic announced on Wednesday that it was?investing in research aimed at reducing the power consumption of its data centers as well as grid optimization tools. The company will also work with local leaders on measures like supporting education programs and working for small businesses. (Reporting from Arsheeya Bajiwa in Bengaluru, and Max A. Cherney at San Francisco. Editing by Vijay Kishore.)
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Stocks rise slightly as yields increase after US jobs data.
Treasury yields increased and stock indices were mostly slightly higher Wednesday afternoon, after data showed that the U.S. created far more jobs than expected in the month of January. This could make it harder for the Federal Reserve to continue cutting rates. Labor Department data shows that 130,000 new workers were added to the nonfarm payrolls during January. This is well above the forecast of 70,000. November and December have been revised downwards. The unemployment rate fell to 4.3% in January from 4.4%, which was below the forecast of 4.4%. In an email, Eric Merlis said that the January employment report showed a significant improvement in all areas. The Fed wants to see a lower unemployment rate, but without a significant wage increase. This should be enough for them to hold rates at the same level in March. According to CME's FedWatch Tool, market expectations of a Fed cut at least '25 basis points' at its March meeting rose to around 20% before the employment data and dropped to roughly 6% following the report. The Dow Jones Industrial Average dropped 19.92 points or 0.04% to 50,169.46. The S&P 500 rose 13.23 points or 0.18% to 6,955.04?and the Nasdaq Composite increased 21.86 points or 0.10% to 23,124.33. Oil prices and energy shares both rose. Trading in Europe was dominated this week by fears about disruptions caused by artificial intelligence. This time, shares of asset managers were pushed lower. The benchmark STOXX 600 Index in Europe hit a new record, ending 0.1% higher. The MSCI index of global stocks rose by 3.01 points or 0.29% to?1,057.73. After rising after the jobs report, the dollar index fell. The dollar index fell by 0.12%, measuring the greenback in relation to a basket of currencies, including the yen, the euro and the yen. The dollar fell 1.02% against the Japanese yen to 152.79. The yen is up a lot in the last few days. This could be a sign of a shift in investor sentiment after Sunday's election win for Japan's prime minister Sanae Takaichi. The Australian dollar reached a three-year peak after Reserve Bank of Australia's Deputy Governor Andrew Hauser stated that inflation was too high and policymakers would do whatever it takes to bring it down. The Australian dollar rose by 0.88% against the greenback, to $0.7136. The yield on the benchmark U.S. 10 year?notes increased 2.7 basis points from?4.145% at late Tuesday. U.S. crude oil rose 67 cents to settle at $64.63 per barrel. Brent also rose. Spot gold increased 1.32%, to $5089.35 per ounce.
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Ukraine boosts Kyiv's air defence in anticipation of possible Russian attacks
Denys Shmyhal, Minister of Energy in Ukraine, said that senior Ukrainian officials agreed on Wednesday to increase air defence capabilities around the capital Kyiv. This is to counter any possible future Russian air attacks against energy infrastructure. The 'fresh' preparations follow the attacks in Kyiv, where officials are scrambling to repair damages to heating and electricity networks that has left thousands of people in darkness and cold. "Most information will not be made public." In the context of?potential further Russian attacks?, we discussed strengthening Kyiv?s active air defense, especially for?energy facilities?, Shmyhal wrote after a military staff meeting on Telegram. We also identified and prioritized other critical infrastructure sites that need protection. Shmyhal, also the first deputy prime Minister, stated that plans were coordinated with government departments, city authorities, and officials in the?energy sector. Artem Nekrasov said earlier on Wednesday that the nuclear power plants in Ukraine, which provide two-thirds the energy needed by the country, are still unable operate at their full capacity following the latest Russian attack. Last week, Russia attacked thermal power plants, as well as key electrical substations. This forced nuclear power plants to reduce their power output. In a televised announcement, Nekrasov stated that "restoration" was underway at both high-voltage power substations and power stations which provide power from nuclear power plants. He said that restrictions on energy supply remained in effect across the country, for both households and businesses. Ukraine has three nuclear power stations with a total capacity of eight gigawatts. The country needs around 18 gigawatts. Before the war, thermal power plants accounted for more than a third of Ukraine's energy consumption. The shortfall is made up by the maximum amount of imports possible from the EU and insignificant amounts from alternative sources. This leads to large-scale blackouts that affect consumers. (Reporting and Editing by William Maclean Ron Popeski Rod Nickel)
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Gabon dismisses energy concerns over 2029 manganese refining deadline
Gabon's Mining Minister said on Wednesday that the country's ban on raw manganese imports in 2029 will not be excused by energy shortages. He dismissed industry warnings about power shortages delaying refinery construction. Last year, the world's second-largest producer of manganese (used in steelmaking, and increasingly, in electric vehicle batteries) introduced a policy to diversify their economy, after decades of raw ore exports. They joined other African countries seeking to maximize value from mineral wealth. In the Central African nation, power shortages are common and hamper the expansion of industrialisation that is energy intensive. The French company Eramet and other mining companies in the country have stated their willingness to work with the government regarding the new refinery rules. However, power shortages remain a problem. Sosthene Nguema Nguema, Gabon Mining minister, said that alternative technologies have proven to be an effective way of overcoming power concerns. Nguema stated that "energy is a false discussion." "Some operators have demonstrated 'processes which reduce energy consumption?by 40% to 60%. We do not anticipate that energy will be an issue in 2029. TIMELINE DETAILED Official data shows that Gabon will export 9.4 million tons of manganese by 2024, a decrease of 5.3% from the previous year. Most of it is exported as raw material. Nguema stated that all manganese mines must provide detailed implementation timelines, and demonstrate measurable progress toward compliance. Nguema reiterated that the 2029 deadline was not negotiable. He added that Eramet's management crisis, which controls Gabon’s Comilog and operates the world's largest manganese mine, in?Moanda should not impact its compliance. "Eramet must conform like everyone else." Eramet, in a 'emailed statement', said that the firing of its CEO on February 1, did not change its'strategy' and was unrelated to Gabon's activities. Eramet declined to comment further. Two Iron Mines Nguema stated that Gabon is expecting two new mines - Milingui and Baniaka Iron Ore Mines - to be online this year as part of an effort to expand the sector. He warned that those companies who fail to start construction or production would lose their licenses. He said that those who promised to open mines by 2026 but did not keep their word before 31 December would be asked to leave the country. Maxwell Akalaare Adombila, Bate Felix and Rod Nickel (Reporting)
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Nornickel, a Russian metal manufacturer, reports a 36% increase in net profit
The company reported that the '2025 net profits of Russian metal producer Nornickel rose 36% from last year to $2.47 Billion, due to higher metal prices and foreign exchange effects. The company, which is the world's largest producer of nickel and palladium, said that revenue for 2025 increased by 10%, to $13.76 Billion, while earnings before tax, interest, depreciation, and amortization rose 9%, to $5.67 Billion. Nornickel reported that the LME Nickel average price fell by 10% on an annual basis. Other headwinds were Western sanctions against Russia, high interest rate and a strong Russian rouble. CEO?SAYS NORNICKEL HAS PERFORMED DESPITE HEADWINDS Vladimir Potanin, Nornickel's CEO, said that despite the difficulties: "Nornickel’s management has achieved its annual targets - primarily in production and sales." He added that the major macroeconomic issues facing the company's business would continue into 2026. Nornickel does not fall under direct sanctions from the West over Russia's actions against Ukraine, but these measures have led some producers to stop buying Russian metal. The sanctions have also made it more difficult to make payments and limited access to Western equipment. Nornickel did not disclose its sales volumes or sales destinations. Metal sales revenue increased 10% to $12.983 Billion, mostly due to higher prices. As a result of?global restrictions the producer redirected their sales to Asia which became the largest market for the company. Sergei Malyshev, Nornickel’s CFO, said that the company reduced its inventories last year due to sanctions. The company expects to spend $2.6 billion on capital expenditure in 2026. The adjusted free cash flow came to $1.5 billion. Malyshev stated that Nornickel's payout of dividends will be determined by?its debt metrics, economic conditions, and cash flow generated?by the Bystrinsky Copper and Gold Mine, which is operating at full capacity since about 2020. Potanin had earlier said that dividends in 2025 are unlikely. The company said it expected the global nickel market surplus to reach 275,000 tons by 2026, as long as Indonesia maintains its current status, and that the palladium markets will be in balance in the medium-term. (Reporting and editing by Vladimir Soldatkin, Barbara Lewis and Anastasia Lyrchikova)
U.S. weather forecaster: La Nina will fade and neutral conditions will emerge in March.
A U.S. forecaster stated on Thursday that La Nina conditions exist and will continue in the near future. There is a 66% probability of transitioning to ENSO neutral conditions between March and May 2025.
Why it's important
La Nina is an occurrence that is part of a larger El Nino Southern Oscillation cycle (ENSO), which involves water temperatures in central and eastern Pacific Ocean.
ENSO neutral is when the water temperature stays near average and the crop yields are more stable.
CONTEXT
The Japanese weather bureau stated earlier this week that no signs of El Nino, or La Nina, were evident, but La Nina characteristics are becoming more apparent.
Bureau added that 60% of the normal weather patterns will continue into summer.
In its monthly forecast, the National Weather Service Climate Prediction Center (CPC), said that "La Nina is expected to persist throughout the season of Feb-Mar-2025 with odds of 59%. This will be followed by an almost equally likely transition from ENSO-neutral to Mar-Apr-2025."
KEY QUOTES
The La Nina pattern is usually associated with better rains, improved crop production, and better crops in South Africa. It also results in wheat, sorghum and cotton in Australia. Palm oil in Southeast Asia. And a better monsoon in India. This was what we experienced last summer, said Donald Keeney.
Keeney said that "there are drier than normal conditions and lower crop yields across the southern Brazil and Argentina region this season. In addition, the conditions are dryer in the southern U.S. tier, which may impact the winter wheat production."
(source: Reuters)