Power Markets

In a report published?Friday by the central bank of Poland, the inflation rate is expected to stay within the target range until the end of 2028. However, the data used in the report predated the beginning of the Middle East conflict. In 'its 'March forecasts, the National?Bank Polska projected that inflation would reach 2.3% this yeaar, 2.4% in the year 2027, and 2.3% in the year 2028. This is around the middle of central bank target of 1.5%-3.5%. The report stated that growth will be slightly slower this year at 3.9%, down from 4.0% by 2025. Since the weekend, the...

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...

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...

Italy's Energy Minister?said Wednesday that the country could reactivate some coal-fired?power stations if conflict in?the Middle East leads to an energy shortage. Gilberto Pichetto Fratin, Minister of Energy and Environment in Italy, said that "there are coal-powered stations in Italy that I would not like to reactivate. But they're there in reserve for our country." Israeli and U.S. Forces?struck Iranian targets on Tuesday. This prompted Iranian strikes against energy infrastructure in other Gulf States considered U.S. Allies in a area that accounts for just under a third global oil production. Iran also targeted tankers in the Strait of Hormuz. Through...

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...

According to Engie's chief financial officer, the Belgian government wants to increase the capacity of nuclear reactors and extend their lifespan. Engie has previously stated that it is not interested in maintaining its nuclear assets. CFO Pierre-Francois Riolacci discussed Belgium's plans for nuclear power on Thursday, after the company announced its results and a major purchase in Britain. He also said that the company did not agree with a draft report from the Belgian regulator regarding future costs associated with the nuclear fleet. Engie CEO Catherine MacGregor stated that a final report on costs associated with the dismantling of older...

Vistra Corp, a power producer, beat Wall Street's expectations on Thursday for its fourth-quarter core profit?adjusted? as an?AI driven surge in electricity consumption from data centers?fueled earnings. The U.S. is expected to?increase its power consumption?increase?increasingly this year and next year, due to the rapid expansion in data centers for artificial-intelligence services and cryptocurrency and the switch from gas and oil heating and transportation. The big?tech companies are also looking for long-term contracts with electricity suppliers to power AI-driven services and data centres. Meta Platforms has signed a 20-year contract to purchase power from Vistra's three nuclear plants located in the...

Louisiana utility regulators deny a group of environmental lawyers' claims Request for Investigation Earthjustice, a law group, said on Wednesday that a $27 billion Meta Platforms Data Center 'deal was being negotiated. Earthjustice sent a request to the Louisiana Public Service Commission last month asking them to investigate project financing. The group argued that this could lead to unfair costs being passed on the utility customers. The motion focused on Meta's proposed Richland Parish data center project, where three new gas-fired energy plants would be built. Earthjustice's petition stated that Meta had signed a new financial agreement for the data...

The White House announced on Thursday that it would host leading data centers and artificial intelligence companies in the next week, including Microsoft, Anthropic, and Meta Platforms. This is to formalize an agreement to protect consumers from rising energy costs. The meeting is scheduled for 4 March and was first reported by. It will advance a initiative that President Donald Trump announced during his State of the Union Address on Tuesday. He said he told major technology companies they had to build their own power plant to run the fleet of rapidly expanding data centers and other artificial intelligence infrastructure....

Eagle Nuclear Energy shares rose 14.6% on Wednesday afternoon after it began trading on the Nasdaq. This was following the merger of the blank-check firm, Spring Valley Acquisition Corp II. This listing comes at a time when nuclear energy is gaining traction in the U.S. after decades of stagnation. The surge in electricity demand for power-hungry centers has been a major factor. Eagle Nuclear's flagship Aurora project is one of the U.S.'s largest undeveloped uranium reserves, located along the border between Oregon and Nevada. Mark Mukhija, CEO of the project, said that there are no 'offtake agreements' yet, but it...

Jarrett Renshaw & Laila Kearney Two sources have confirmed that the White House will host Microsoft, Anthropic, and Meta Platforms, among others, in early March, to "formalize" a deal designed to shield consumers from rising electricity costs. The meeting will likely advance an initiative that President Donald Trump announced during his State of the Union Address on Tuesday. He said he told major technology companies they "must build their power plants" to run the fleet of rapidly expanding data centers and other artificial intelligence infrastructure. Sources said that the pledge being discussed is likely to be similar to commitments made...

Eagle Nuclear Energy, a company that explores for uranium, will start?trading in Nasdaq tomorrow, after its?merger? with Spring Valley Acquisition Corp?II, a blank-check firm. The listing on Nasdaq is a sign that 'nuclear energy' in the U.S. is gaining traction, after decades of stagnation. This has been fueled by the surge in electricity demand for power-hungry data centres. Eagle Nuclear's flagship Aurora project is located along the border of Oregon and Nevada, one of the biggest undeveloped uranium reserves in the United States. Mark Mukhija, the CEO of the project, said that it does not yet have offtake agreements. However,...

The restart of nuclear reactors in Japan is expected to boost sales at Mitsubishi Heavy Industries (MHI)'s nuclear power unit next year. This will be a record 400 billion yen, or $2.54 billion. This is well ahead of previous forecasts. Hiroshi Nishio said in an interview that we originally thought it would reach 400 billion yen by 2030. MHI plans to increase its headcount by about 10% in the reactor division next year, as orders continue to grow. After 15 years of the nuclear crisis in Japan caused by the tsunami, 15?of the 33 reactors are now operational. The Japanese...

The?maritime?security?centre of Oman said that a Palau-flagged tanker was hit on Sunday off the Musandam Peninsula injuring four people. This followed drone strikes against the commercial port of Duqm, which is located in the Gulf. These incidents are the first time that targets have been struck in or around Oman following a wave retaliatory'strikes' by Tehran against Gulf states following joint U.S. and Israeli attacks on?Iran, which have plunged the area into a war. In a posting on X, the 'Oman Maritime - Security - Centre said that the 20-person crew of the Skylight Tanker had been evacuated following the...

A senior Israeli official said that Ayatollah Khamenei was killed by Israeli and U.S. airstrikes. He had turned Iran into a powerful anti U.S. force, extended its military influence across the Middle East, and crushed repeated domestic unrest. No immediate confirmation from Iran was given of his fate. On Saturday, the United States and Israel launched military strikes against Iran. They targeted its top leaders. This threw the Middle East in a war that Donald Trump claimed would eliminate a threat to U.S. security and give Iranians the chance to overthrow their rulers. Khamenei became Iran's highest authority after the...

Germany, France, and Britain have condemned the 'Iranian' attacks on countries of?the?region on Saturday. They said that?Iran should halt its indiscriminate strikes and return to negotiations. In a joint press release, French President Emmanuel Macron, German Chancellor Friedrich Merz, and British Prime Minister Keir Starmer stated that they "condemn Iranian attacks against countries in the area in the strongest possible terms." "We urge the Iranian leadership to seek a negotiated resolution and call for a return to negotiations. "The Iranian people must be allowed to decide their own future", they stated. Leaders said that they have consistently called on Iran...

In an interview published on Wednesday, Russian Foreign Minister Sergei Lavrov?said any new U.S. attack on Iran would have serious consequences. He called for restraint in order to find a solution that will allow Iran to pursue a peaceful nuclear programme. Lavrov's interview with Saudi Arabia's Al-Arabiya TV was broadcast a day after U.S. negotiators and Iranian negotiators met in Geneva for indirect talks to avert a new crisis between Washington, D.C. and Tehran. "The consequences of this are bad." Already, there have been attacks on Iran's nuclear sites under the control the International Atomic Energy Agency. Lavrov stated in...

Naim Qassem said that the leader of Lebanon's Iran aligned Hezbollah, Naim, was worried about Washington's threats against Iran. He also expressed concern for any threat made by Washington towards Supreme Leader Ayatollah Ayatollah Khamenei. The tensions between Iran, the United States and Israel have increased following a crackdown against protests in Iran that resulted in thousands of deaths in recent weeks. President Donald Trump suggested this could lead to an American response. Tehran warned that any attack against?Khamenei could trigger a "holy conflict". "We are worried about what is happening and targeted by potential aggression. We are?determined?to defend ourselves....

The White House reported that regional fears about a U.S. strike on Iran were eased when President Donald Trump stated that Tehran assured him protesters wouldn't be executed. However, he still has "all his options" on the table. Israel and the United States carried out their last major strike on Iran in June, targeting mainly key nuclear facilities. Which nuclear sites were hit? The three uranium enrichment plants in Iran - two at Natanz, and one hidden inside a mountain near Fordow – as well as the sprawling Isfahan complex that includes a number of?facilities?that are part of the nuclear...

Bahrain announced several fiscal measures on Monday. These included raising fuel prices, increasing tariffs on water and electricity, and increasing dividends from government-owned companies, as well as other fees and tax. Bahrain, one of the Gulf's smaller producers of oil, has increased its efforts to diversify away from hydrocarbons and into other areas, such as tourism and financial services. However, lower?oil price have had a negative impact on public finances and growth. Bahrain plans to?raise natural gas prices and reduce administrative government expenditure by 20%. It will also introduce a new corporate income tax law for local companies. The statement...

Hanan al-Joujou is a Palestinian mother of three who has to feed them in the dark using a flashlight. There is still no electricity in Gaza, even after the ceasefire between Israel and Hamas last month. They go hungry when they can't afford to charge their flashlight. Al-Joujou, speaking of the Muslim sunset devotion, said: "We remain in darkness once the sun has set and the Maghrib Prayer is called." If the flashlight is handy, we will light it. We go to bed without food or light if we don't have electricity. Since the war began, her family has lived...

Iran's Foreign Ministry spokesperson told state media on Monday that inspectors from the U.N. nuclear monitor IAEA had visited Iranian nuclear sites in the past week. This comes a week after IAEA officials urged Iran to “seriously enhance” its cooperation. The IAEA conducted about 12 inspections in Iran after hostilities began with Israel in late June. However, last week, it was revealed that the agency had not been granted access to certain nuclear facilities, such as Fordow Natanz, and Isfahan which were bombed in part by the United States. Esmaeil baghaei, without naming the other facilities, said: "As we remain...

Kazatomprom announced plans on Friday to triple its exploration in Kazakhstan, and explore opportunities for international expansion, following recent agreements signed with Jordan and Mongolia. State-controlled company currently produces its uranium in Jordan, but last week signed an agreement with Jordan to develop the country's assets. "We have been recognized for our mining capabilities, which is why... we also look at opportunities overseas," Meirzhan Yossupov, Chief Executive of the World Nuclear Symposium held in London. Kazatomprom has also signed a deal with Mongolia's Mon-Atom, in addition to its Jordan agreement. Yussupov stated that his company was exploring other options. We...

Kuwait has opened the bids for phase one of the Al Khairan water and power project. The project is a 1.8-gigawatt energy source that aims to alleviate Kuwait's power shortages. Kuwait Authority for Partnership Projects invited pre-qualified international consortiums to submit bids for Al Khairan Phase 1 independent water and power producer project. The project will also produce 125 millions imperial gallons per day of water. Kuwait, a member of OPEC and a major oil producer, is facing a severe electricity shortage because of rapid population growth, urbanization, rising temperatures, and maintenance delays in certain plants. The government has had...