Power Markets

According to a document released on Tuesday, New York Governor Kathy Hochul recommends that local governments seek community investments from developers who propose new data centers of at least $1 million per megawatt. Her recommendations follow a few months after New York became the very first state in the U.S. to place a moratorium against large data centers. According to the document, the suggested investment of at least one million dollars for each megawatt of electricity demand will help the communities that host the data centers "share equitably the long-term value created by these project." Amazon, Meta, and Alphabet’s Google,...

The company announced on Tuesday that Hitachi 'Energy' plans to build a $528-million factory in Mississippi for the production of electrical?transformers. This will be the largest?investment made by the company as part of its U.S. Manufacturing expansion. Electricity demand in the United States has reached record levels, largely due to the growth of data centers for the tech industry and the electrification and modernization of buildings and transport. However, there is a shortage of essential electrical infrastructure like circuit breakers and transformers. The Gallman, Mississippi plant is expected to begin operations in 2029 and will be approximately twice the size...

The U.S. Environmental Protection Agency announced Monday rules to repeal former President?Joe Biden?s limits on carbon emission from coal-and-gas-fired power stations and to prevent future climate regulations of these facilities. The move is part President Donald Trump’s effort to undo U.S. Climate Policy, which his administration claims has hampered energy production. The announcement was made at the sidelines of the G20 Energy Ministers' meeting in Houston this week, where global officials will discuss "regulatory efficiencies," expanding baseload power, and energy security. EPA Administrator Lee Zeldin stated that 'new measures to prevent future regulation on greenhouse gas emissions in the power...

The U.S. Environmental Protection Agency will announce on Monday its final 'rule' that will repeal the Biden administration’s carbon emission limits for coal and gas fired?power plants. This is a major part of their broader efforts to undo U.S. Climate Policy that they claim has hindered American energy production. The announcement will take place on the sidelines a meeting of G20 energy Ministers in Houston, where global officials will discuss "regulatory efficiencies," expanding baseload power, and energy security. In June 2017, the Trump administration proposed to repeal rules that were written by former President Joe Biden in order to reduce...

On?Friday, a federal appeals court threw out a President Donald Trump administration order that had?forced a Michigan coal-fired plant to stay open past its planned retirement date. According to court documents, a unanimous?ruling?by a three-judge panel of the U.S. Court of Appeals 'for 'the District of Columbia Circuit determined that the Department of Energy had exceeded its authority in a rarely invoked emergency provision of federal legislation. Michigan challenged the DOE order after DOE instructed J.H. Campbell plant to stay online in 2025, shortly before the planned closure. The decision is a blow to the administration's efforts to maintain coal-fired...

On Friday, a federal appeals court overturned an order of the Trump administration that would have forced a Michigan coal plant to stay open past its scheduled retirement date. According to court documents, a unanimous decision?by a panel of three judges?of the U.S. Court of Appeals for?the District of Columbia Circuit?found that the Department of Energy had exceeded its authority in a rarely-used emergency provision of federal legislation. Michigan challenged the DOE order after DOE instructed that the plant remain online in 2025, shortly before its planned closure. The decision is a blow to the efforts of the administration to...

NextEra Energy announced?on Tuesday that it had secured a U.S. Department of Energy Loan of up to $1.9 Billion to support the restart of the Duane Arnold Energy Centre in Iowa as the country sought to increase power generation capacity to satisfy rising demand. Google, owned by Alphabet, signed a 25-year contract last year with the nuclear plant to 'buy power. The surge in electricity demand from AI data centres is putting pressure on the U.S. power grids. It also spurs interest in extending existing nuclear plant life and bringing shut-down reactors online. Gregory Beard is the director of the...

Holtec, a nuclear technology company, said that it aims to achieve a valuation up to $10,2 billion for its U.S. initial IPO, which will take place as Wall Street begins 'its post Labor -Day dealmaking spree. The Camden-based New Jersey company wants to raise up to $900,000,000 by selling 50 million shares at a price between $15 and $18 each. As markets recover from the summer slowdown, fall is traditionally a busy time for new deals. Holtec's listing is the latest in a series of nuclear IPOs this year, as companies move away from blank-check deals and towards traditional IPOs....

TerraPower, a?U.S. The?Bill Gates-backed nuclear developer TerraPower expects that its Natrium reactors will begin to generate electricity in Britain by the year 2034. The UK has supported the development of small-modular reactors to increase energy security and achieve climate targets. An Advanced Nuclear Framework was launched this year to support privately-funded projects. Chris Levesque said that progress made on TerraPower's first Natrium nuclear reactor, which is due to be finished in 2031, shows that "2034 nuclear power in the UK from Natrium is very feasible". The technology is being evaluated under Britain's Generic Design Assessment process (GDA). Each Natrium sodium-cooled...

U.S. Energy Sec. Chris Wright stated that a deal between Venezuelan and U.S. energy equipment and services firm GE Vernova aims 'to help stabilize Venezuela's power?grid within six months to a year, and boost it over the coming years. Wright, speaking to reporters on Wednesday evening before flying back to Washington, said: "The plan immediately is to... within six to twelve months, focus on bringing existing assets back into working order and condition, stabilizing the grid, and extending the hours of service." GE Vernova is one of the companies who committed to?expanding their energy projects in Venezuela? during a ceremony...

A U.S. official said that President Donald Trump sent Congress a proposal for an agreement between the United States and Saudi Arabia to develop civil nuclear energy. The official also stated that the agreement would only be approved after Saudi Arabia normalized its relations with Israel. According to a U.S. official who declined to identify himself, the agreement was signed in July, and it would allow U.S. firms to export civil nuclear technology to Saudi Arabia. It was then sent to Congress. The Saudi Embassy in Washington didn't immediately respond to our request for comment. Trump's intentions were not made...

Vince Canino, Capstone Energy+ CEO, said that the demand for more onsite power is increasing as businesses struggle to secure enough capacity from their strained American utilities. Businesses are looking at onsite generation to reduce energy costs, but also as a solution for expanding their business. Capstone, a provider of microturbines and power systems behind the meter for industrial and commercial customers, has seen a rise in demand from sectors such as?healthcare, and is now pursuing projects involving data centers. Canino said, "Today’s discussions are about energy security." Canino said that Capstone customers are now buying larger blocks of energy,...

Nvidia is investing $1.5 billion into a 'SoftBank-backed SB Energy, and will secure up to 8 gigawatts in AI computing capacity on a 'campus' being built by OpenAI. This is not the first time that Nvidia has financed the ecosystems that consume its chips. The strategy has fueled demand, but it also attracted scrutiny for the 'circular flow of funds' from the chipmaker towards its biggest customers. As they rush to secure the infrastructure required for increasingly power-hungry AI, leading tech firms are increasingly linking together chip, power and data center development. Nvidia, the chip giant, has acquired land and...

Two sources claim that the Trump administration supports a nuclear energy agreement with Riyadh, which allows Saudi Arabia to enrich and process spent atomic material. This could worry states in the region concerned about proliferation of weapons. Here are some of main issues: What has happened so far? Washington and Riyadh are discussing a deal for nuclear cooperation that would allow Saudi Arabia to access U.S. technologies and American companies to compete to win large contracts?for Saudi atomic power facilities. Concerns about security, weapons proliferation, and political complications have always been a major concern with nuclear technology. Saudi Arabia, like...

OVER 100 COMPANIES, INCLUDING UBER AND NESTLE?URGE GOVERNMENTS?TO MAKE ELECTRIFICATION CENTRAL IN ECONOMIC STRATEGY 'Nestle' and Ikea, among others, urged government officials to put electrification at the forefront of their economic strategies to reduce exposure to volatile fuel prices and boost energy security. They said that exposure to fossil fuel price shocks undermined their competitiveness. With combined revenues of $1.5 trillion annually, the group also included Iberdrola and Volvo Cars, Mahindra Group and Uber, Nikon Corporation and Levi Strauss. The statement was coordinated by the Global Renewables Alliance and the We Mean Business Coalition. It added that the ability to...

NHK, the public broadcaster, reported that Japan aims to ensure a stable power supply by rebuilding between two and five nuclear reactors. The proposal, which will be presented by the Ministry of Economy, Trade and Industry during a meeting about nuclear policy, reflects an increased reliance on atomic power to help "meet increasing energy demand and reduce expensive fuel imports." After the Fukushima disaster in 2011, Japan closed its?54 nuclear reactors due to public concern about safety standards. 15 of the 33 units which are still operational have been restarted. Tokyo revised its energy policy last year to maximize the...

Emmanuel Macron, the French president, said on Monday that companies?have committed a 'total of EUR93 bn ($108 bn)?worth investments in France during this year's Choose France Summit. The projects will cover 71 initiatives and are expected to create over 15,600 jobs. SoftBank has pledged a total of?45 billion euro for three data centers?with 3.1 Gigawatts in the Hauts de France region?by the year 2031. The investment could rise to 75 billion Euros, according to Macron. Macron is trying to use 'France's fleet 57 nuclear reactors as leverage to promote the country as an artificial intelligence hub and data centre, both...

Chinese coking coal prices slid on Friday, but are headed for the best week in six as Beijing's calls to ensure energy supplies during?the summer peak demand period? only partially offset supply fears sparked by mine closures following a fatal accident. According to a late-night statement posted on WeChat by China's official planner, efforts should be made to ensure the production and supply primary energy sources like coal and natural gases to meet peak electricity generation needs. Analysts said that this helped ease concerns about coal supply losses caused by?production halts at coal-rich Shanxi Province mines after a deadly gas...

Nickel prices increased on Tuesday as concerns about Indonesian supplies resurfaced. China's Tsingshan group asked its Weda Bay Industrial Park smelters to divert their power to aluminum production. Benchmark nickel prices were?up?1.8% at $18,900 per metric ton as of 0946 GMT. The price of nickel hit a two-year high earlier this month at around $20,000, with the buying being sparked by a sulphur scarcity caused by the war in Iran and lower ore quotas. Tsingshan asked producers of nickel-pig iron used to produce stainless steel to "curb" output, according to reports on Monday. The group is now focusing more on...

Sanae Takaichi, the Japanese Prime Minister, pledged on Saturday to strengthen bilateral relations with Vietnam. Energy?cooperation, and vital minerals were at the forefront of his commitments, during a?meeting with Vietnamese Prime Minister Le Minh Hung. According to Vietnamese government data and customs, the pledge was made as "new" Japanese investment in Vietnam dropped 75% on an annual basis to $233 millions in the first three months, while bilateral trade grew 12.3%, to $13.7 billion, over the same time period. The two leaders discussed how to deepen the Comprehensive Strategic Partnership, established in?2023, with a focus on energy, critical mineral, artificial...

Sanae Takaichi, the Japanese prime minister, will meet To Lam, the leader of Vietnam in Hanoi on Saturday. The two countries are trying to strengthen ties in light of a sharp decline in Japanese investment in Vietnam. A Japanese official in the foreign ministry said that both sides will discuss ways to strengthen a Comprehensive Strategic Partnership, established in 2023. The focus of their discussion is on energy, technology and critical minerals, as well as regional stability. Japan is still one of Vietnam's biggest foreign investors.?Many Japanese multinationals operate large manufacturing facilities throughout the country. According to data from the...

South Korean and Vietnamese companies will reportedly'sign dozens of deals on Thursday, according to two sources in the Korean media. These non-binding corporate deals and contracts will follow the previous day's signing of 12 co-operation pacts between Lee and Vietnam’s top leader To Lam, which included one about Korean investment in a nuclear plant in southern Vietnam. Lee, after the meeting, said that "our two countries will enhance cooperation in joint research and talent-development in semiconductors and secondary batteries as well as biotechnology." He added that among the deals set to be announced on Thursday is a contract for supplying?rolling...

To Lam, the leader of Vietnam, will meet with South Korean President Lee Jae Myung, on Wednesday. This is their second meeting in less than one year. Hanoi wants to get more support from South Korea for its high tech ambitions. Vietnam, which is a major exporter for phones and electronic goods, wants to shift to more advanced technologies, such as semiconductors. South Korea, with its accumulated capital, is the largest foreign investor in Southeast Asia’s fastest-growing economy. The Samsung Group, which includes the chip giant Samsung Electronics, is the most significant corporate investor, with more than $20 billion, mostly...

Karel Havilicek, Minister of Industry and Trade, said that the 'Czech Republic' will extend the life span of the four existing units at the Dukovany nuclear power plant by 20 years to 80 years and run them until 2065-2067. Dukovany was built by CEZ, a majority-owned state-owned company, in 1985-1987. Its Soviet-designed VVER nuclear reactors are capable of 2,000 megawatts. This decision follows other life extension decisions, particularly in France, as countries seek to ensure sufficient supplies following the gradual demise of fossil fuels. The 'decision' means that the old units will be running for a longer period alongside the...