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Power Markets

CERAWEEK-Constellation exec says grid operator told company Three Mile Island can't connect until 2031

The U.S. grid operators PJM and Constellation Energy have told Constellation Energy that the former 'Three Mile Island Nuclear Power?plant in Pennsylvania will likely not be able connect to the grid before 2031. This is four years later than originally planned. Constellation has been working on a plan to restart operations at the nuclear plant, which will be renamed as the "Crane Clean Energy Center" to provide electricity to Microsoft's data centers. Constellation's chief?external? affairs and growth officer, David Dardis said that the company would?be able to produce electricity by the earlier goal and is?talking with grid operator PJM to...

Fossil Fuels

Trump: Iran's gift to US was 10 oil tankers allowed through Hormuz

Donald Trump, the U.S. president, said 'on Thursday that Iran is allowing 10 'oil tankers to transit the Strait of Hormuz as a 'goodwill gesture during negotiations. Trump's comments were made at a Cabinet Meeting in the White House. He elaborated on what he previously called a "present from Iran". Trump said, "They'said', to show that we are real and solid, we will let you have eight boats of oil. Eight boats, eight large boats of oil." "I 'guess they were real, and they were'real. I think they were Pakistani flagged." It turned out to be 10 boats." The White...

Oil & Gas

Constellation's executive claims that grid operator told the company Three Mile Island cannot be connected until 2031

The U.S. grid operators PJM and Constellation Energy have told Constellation Energy the 'former Three -Mile Island nuclear /power?plant' in Pennsylvania will likely not be able connect to the grid before 2031. This is four years later than originally planned. Constellation is working to restart operations at its nuclear power plant, which will be renamed Crane Clean Energy Center to "feed Microsoft data centres". Constellation's chief?external and growth officer, David Dardis said that the company will be ready to produce electricity at the plant before its goal of 2027. It is also in talks with the grid operator PJM interconnection...

Crude Oil

Oil prices rise as markets evaluate supply risks following Iran's refusal to engage in US-sponsored talks

Prices of oil rose on early Tuesday due to supply concerns. Iran denied that it had held talks with the United States in order to 'end the Gulf War,' contradicting President Donald Trump, who claimed a deal would be made soon. Brent futures increased $1.06 or 1.1% to $101 per barrel at 0001 GMT. U.S. West Texas Intermediate rose $1.58 or 1.8% to $89.71. Crude futures fell more than 10% Monday after Trump announced he ordered a delay of five days to the attacks he threatened against Iran's nuclear power plants. He also said that the U.S. held productive discussions...

Nuclear Power

Google's president: US must invest more in energy to power AI

The U.S. might not be scaling up energy supplies quickly enough to "meet" the demand of the artificial intelligence expansion. Ruth Porat, President and Chief Investment Officer of Alphabet, the parent company of Google, said this on Monday. She was referring to how much capacity is needed to power AI data centers. She said that she was concerned about the fact that the United States is not embracing all energy sources to meet the current needs. Big Tech invests hundreds of billions in?expansion of energy-intensive server warehouses that are used for training and deploying artificial intelligence. The U.S.-based effort has...

Electric Utilities

New York is against reopening Indian Point Nuclear Power Plant despite Trump's push

Kathy Hochul, the New York governor, opposes Trump's campaign to restart an nuclear power plant just north of New York City, her office said this week. Days after?the?U.S. The energy secretary visited to encourage the plant's reopening. The U.S. is experiencing a surge in power demand for the first decade, thanks to the explosion of AI data centers. To meet this demand, President Donald Trump set the goal that the U.S. quadruple its nuclear power capacity by the year 2050. Ken Lovett is Hochul's senior communications advisor on Energy and Environment. She said that the governor had made it clear...

Power Markets

EU chief calls the reduction of nuclear energy a "strategic error"

Ursula Von der Leyen,?EU?chief, said that reducing?Europe's nuclear sector was a'strategic error'. This came as the governments struggled to cope with a severe energy shortage caused by the Iran War. The EU Commission President told a Paris event that Europe used nuclear energy to produce around a third in 1990. That number has now dropped to 15%. This leaves Europe reliant upon oil and gas imports, whose prices have risen in recent weeks. Von der Leyen said that Europe was at a disadvantage compared to other regions because it is "completely dependent on expensive and volatile fossil fuel imports". "This...

Energy Markets

Von der Leyen: EU's decision to abandon nuclear power was a strategic error

Ursula Von der Leyen, President of the EU Commission, said that the decision to reduce nuclear energy's share in the mix of electricity production?in Europe was a strategic error. She said in a speech in Paris at a nuclear energy event that "this reduction in nuclear share was a decision, and I believe it was a mistake for Europe to turn its back on an affordable, reliable source of low-emission power." She said that in 1990, the EU relied on nuclear power for a third of its electricity. Now, it's only about 15%. She added that the European Union wants...

Energy Markets

South Korea to invest in US nuclear power project

Kim Jung-kwan, South Korea's Industry Minister, said that Seoul was 'in talks' to invest in a nuclear project in the United States. This is part of Seoul’s pledge of investing $350 billion into U.S.-based projects. Seoul is scrambling to review its deals with Washington, after U.S. president Donald 'Trump' threatened to increase tariffs on goods imported to South?Korea by 25%. He blamed a delay of the Asian ally in implementing a trade agreement agreed last year. Kim responded to a question from a member of the parliamentary committee about Korea's potential investments in U.S. nucleopower plants by saying, "We are...

Nuclear Power

Security sources claim that Katyusha missiles are being fired at the US Embassy in Baghdad.

Security sources and witnesses reported that sirens were heard as Katyusha missiles struck the U.S. Embassy in Baghdad. It was not immediately clear if the rockets had caused any casualties or damage. This was the first attack on the embassy in over two years. The last recorded attack?was late 2023 when seven mortar rounds fell in the compound amid a wave attacks by Iran-aligned militas against U.S. assets in Iraq and Syria because Washington supported Israel's war in Gaza against Hamas. Around 9 pm, explosions were heard in the central Baghdad area near the embassy. Witnesses said that sirens sounded...

Energy Markets

US approves construction of Gates-backed TerraPower nuclear reactor in Wyoming

The U.S. Nuclear Regulatory Commission announced on Wednesday that it has approved the construction of a small nuclear reactor in Wyoming, backed by Bill Gates. TerraPower's 345 megawatt sodium-cooled Kemmerer reactor was approved by the Nuclear Regulatory Commission, marking the first commercial reactor approval in almost a decade. The reactor is to be constructed near a coal-fired power plant, and will become operational in the early 2030s. TerraPower announced in a press release that it will begin construction within the next few weeks. The NRC stated that the plant includes a system of energy storage to temporarily boost output up...

Nuclear Power

US steps up to strengthen rules on nuclear Fusion Energy

The U.S. Nuclear Regulatory Commission released a draft regulation Thursday, which will help regulate fusion energy. It is an emerging technology whose?supporters hope it can one day generate electricity without generating long-lasting?radioactive _waste. Since decades, companies and scientists in laboratories around the globe have tried to use large magnets or lasers to promote continuous nuclear fusion reactions. In these reactions, light atoms are forced to combine to release enormous amounts of energy. The leaders of the fusion energy industry met with officials from the U.S. Department of Energy in December last year. Department of Energy officials in December last year...

Europe

Nuclear Power

French official: EU review of France's nuclear plan is expected to proceed quickly

An official from the French energy ministry said that the EU investigation into France's scheme of state-funded funding for six nuclear reactors is expected to move quickly and won't delay any projects. The new reactors will cost tens or even hundreds of billions of Euros and are a key part of France's plan for renewing its ageing nuclear fleet. The new reactors would add 10 gigawatts of capacity and the first one is expected to operate in 2038. The new plants would replace the old ones, and ensure future energy supplies for the rising demand in the coming decade, which...

Power Markets

Sources: EDF will face EU probe over state aid for nuclear power plants

EDF will face an EU investigation into a state aid package for the construction of six nuclear power plants. This is due to 'concerns that the support would reinforce the market dominance of the French state-owned utility. The plan, which is worth tens and tens billions of Euros, is at the heart of France's plan for renewing its nuclear fleet. It would add 10 gigawatts to France's capacity. A long EU investigation could delay that timeline. People said that the European Commission,?the EU's competition enforcer, will open an investigation in January. The French government asked Brussels late last year to...

Nuclear Power

The Kremlin warns that strikes near Bushehr Nuclear Plant in Iran could be dangerous

Dmitry Peskov, Kremlin spokesman on Monday, said that U.S. and Israeli strikes near the 'Bushehr nuclear plant in Iran' are extremely?dangerous. Russia has shared a similar concern with the United States. Peskov stated that such strikes could have irreparable effects. "We consider that nuclear attacks are extremely dangerous. (...) The Russian side has expressed its concerns repeatedly, taking a very responsible position on this issue. The Kremlin spokesperson?said the conflict in Iran "as recent as yesterday"?should have been channeled towards a diplomatic and political settlement. "This is the only way to effectively defuse the catastrophically tension situation that has developed...

Middle East

North Asia

Electric Utilities

Rosatom, a Russian company, says it will remain in Iran despite the war

Alexei Likhachev, the head of Rosatom's nuclear division, said that the company will remain in Iran despite the conflict in the Middle East. It is also committed to the agreement to build two more units at the Bushehr nuclear power plant. After the United States and Israel attacked Iran on February 28, Rosatom evacuated its staff, and suspended construction on the new units. Likhachev stated that around 450 Rosatom employees remain on the site after 150 returned via Armenia to Russia this week. "The construction and completion of the?second and?third units remain among the priorities for the?corporation. This is not...

Power Markets

Crews repair line at Russian-controlled Zaporizhzhia Nuclear Plant in Ukraine

The head of Russia's nuclear energy corporation announced on Thursday that repair crews had restored the external line of the Russian-controlled?Zaporizhzhia nucleopower plant in southeast Ukraine, nearly a month after the facility was shut down. In a public statement, Alexei Likhachev, the director general of Rosatom said that repairs were completed on the Ferosplavna-1 power line, which connects the plant with the grid, late Thursday afternoon. He said that the repair work was completed "one day earlier than scheduled" at Europe's biggest nuclear plant with its six reactors. The plant was taken over by Russia shortly after the invasion of...

Nuclear Power

Russia accuses the US and Israel of attempting to drag Arab nations into a wider Middle East Conflict

Russia accused the United States of Israel on Thursday of 'trying to drag the?Arab nations into a wider -Middle East conflict' by prodding Iran to strike targets in the region. It said that Washington and Tel Aviv were not showing any signs they would relent. Since the United States and Israel launched the 'air strikes' on Iran, Saturday, the 'Iranian missile and drone attacks have targeted Arab states in the Gulf. Some of these also have close ties to Russia. Russian President Vladimir Putin spoke by phone on Monday to the leaders of four Arab Gulf States, offering to use...

Power Markets

Due to the strikes against Iran, Russia has halted construction at Bushehr Nuclear Plant.

Alexei Likhachev, the chief of Rosatom, said that the U.S. and Israeli air attack on Iran has halted the construction of new 'units' of Iran's nuclear 'power plant' in the 'port city' of Bushehr. Likhachev warned earlier of the danger posed by'strikes near Iranian nucleus facilities. He said that explosions were heard 'just a few kilometres from the facility, even though the facility was not being targeted. He told journalists that the work has stopped on the sites of the second &?third units. He said that it was difficult to predict what would happen next, due to the military operations...

Energy Markets

After the Ukrainian attack, tens of thousands in Belgorod are without electricity

The regional governor reported that?about 50,000 people in the Russian city Belgorod were without electricity on Friday morning after Ukrainian missiles had struck the city overnight. Governor?Vyacheslav?Gladkov stated that about half of the affected people should be connected by Friday's end following the latest attack in a long series of attacks which have led to repeated blackouts. Belgorod is located about 40 km from the Ukrainian border. In the four years that Russia invaded its neighbor, it has been the target of many Ukrainian missile and drone strikes. Gladkov posted on Telegram that "serious damage" had occurred to the energy...

Power Markets

Russia declares local truce to allow repairs at Zaporizhzhia Nuclear Plant

A local ceasefire was declared near the Zaporizhzhia Nuclear Power Plant in southeast Ukraine on Friday, to allow repairs of an external power line. The plant is the largest in Europe. Under Russian Control Since shortly after the beginning of the war, in 2022. The plant does not produce electricity and relies on outside power to maintain its nuclear material cool in order to avoid a catastrophic incident. Russia and Ukraine accuse each other frequently of putting the safety of the plant at risk by staging attacks near it. Last year, a similar 'local truce' was established when the power...

Nuclear Power

Rosatom denies that Siemens Energy was a contributor to the Hungarian Power Plant

The companies confirmed that Rosatom, the Russian state nuclear power company, has released Siemens Energy from its contract to?help build Paks II in Hungary. This confirms an earlier report on the news website Politico. Rosatom informed?that it had terminated the contract with the firm?at the?end of 2025 because its?inability? to meet its contractual obligations. Siemens Energy stated that there were no sanctions in place at the time of termination, and that it fulfilled its contractual obligations in compliance with all national and international laws. It said that "at the time when the fulfillment would have made sense, the customer had...

Power Markets

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....

Energy Markets

Russia lacks equipment to safely restart Zaporizhzhia nuclear plant, Ukraine says

The head of Ukraine's nuclear power company said that the largest nuclear plant in Europe, which was seized by Russian forces during the initial days of the invasion of Ukraine, could only be restarted safely if the facility is returned to Ukrainian control. Since Russian forces seized the area, the six reactors of the Zaporizhzhia Nuclear Power Plant were shut down. Moscow announced in 2013 that it aimed to restart one reactor. The plant's Russian appointed boss stated it could start producing energy as early as 2027. Pavlo Kovtoniuk is the head of Ukrainian nuclear company Energoatom. He said that...

Power Markets

The first concrete pouring at Hungary's Russian built Paks 2 nuclear power plant

Hungarian Foreign Ministry Peter 'Szijjarto' said that the first concrete pour at Hungary’s Russian-built nuclear plant Paks 2 was on Thursday. This officially made it a.nuclear facility under construction. Rosatom, the Russian state-owned nuclear energy company, will build two new reactors under an agreement signed in 2014 between Budapest and Moscow. Hungary wants to expand Paks by adding two Russian VVER reactors. Each VVER has a capacity of 1.2 gigawatts. The 12.5 billion Euro project, which was awarded to Rosatom without a tender, is often cited as proof of the warm relationship between Russian President Vladimir Putin and?Hungarian Premier Viktor...

Nuclear Power

Vietnam seeks Russia agreement by January following Japan's withdrawal

The?government announced on Thursday that Vietnam's PM Pham Minh Chinh wanted talks with Russia about building a nuclear plant to be completed?this month. He also urged officials to seek out new?partners, after Japan pulled its support from a second project. Vietnam restarted its nuclear energy programme in 2017 after it was suspended in 2016. Hanoi has negotiated agreements with Russia and Japan for the construction of two power plants, each with a combined capacity between 4 and 6.4 gigawatts. The aim is to sign the agreements with Russia in September and the agreement with Japan by the end last year....

Nuclear Power

Ukraine and US to revisit land and nuclear plant issues during Wednesday's talks

Volodymyr Zelenskiy, president of Ukraine, said that the U.S.-Ukrainian negotiators would revisit the most problematic issues in the peace talks to end Russia’s war, including the question of the fate of the nuclear power plant occupied by the Russians. Kyiv faces 'U.S. Kyiv is under?U.S. The delegations have gathered in Paris to discuss peace and security assurances for Ukraine, in the event of a ceasefire between Ukraine and Russia. Russia has not been supportive of the U.S.-backed initiative. Zelenskiy announced on X that a third meeting with the U.S. delegation would take place in just two days. He said that...