Power Markets

Energy Secretary Chris Wright of the United States issued an order Friday allowing Puerto Rico's government-owned utility to fill in chronic electricity shortages on the island using electricity generated by oil-burning plants, without violating environmental laws. Why it Matters Puerto Rico has been plagued by frequent and widespread power outages for years due to the island’s crumbling infrastructure and the bankruptcy of Puerto Rico Electric Power Authority in 2017. This was followed by a series of devastating hurricanes. A month ago the island was blacked out, and this week 134,000 customers were affected by the power failure. CONTEXT In January,...

The Trump administration announced on Thursday that it would audit grants of $15 billion awarded to projects involving the power grid, manufacturing supply chains and other infrastructure during the Biden Administration. Donald Trump has pushed for domestic oil, gas and coal production while also halting the construction of offshore wind farms and taking measures to relax regulations on fossil fuels. Last week, the Republican Trump administration proposed to cut billions of dollars from funding for renewable energy projects and electric car chargers. The DOE has been reviewing the billions that were rushed through the door in the last days of...

U.S. Nuclear Regulatory Commission has begun a special inspection of the Quad Cities Generating station in Marseilles (Illinois) after discovering inoperative safety-related vacuum breaks, the agency announced on Monday. Constellation Energy operates the two-unit nuclear power plant. According to a press release from the NRC, operators discovered that vacuum breakers designed to maintain structural integrity of containment systems during major events had become inoperative because certain valves hadn't been reopened following testing during a recent fueling outage. The report said that the incident compromised the system's capability to regulate the containment pressure. This warranted a special inquiry, and the system...

The U.S. The U.S. The department announced in a press release that the environmental review of the project will be finished in only 14 days. These studies can take many years due to the environmental impact of uranium mines. The prior administration's policies of climate extremism have created an energy crisis that is alarming. "President Trump and his Administration are working quickly and strongly to resolve this crisis," stated Secretary of Interior Doug Burgum. He said that the expedited review of mining projects was exactly what we needed to ensure our energy future. The Velvet-Wood Mine Project in San Juan...

Talen Energy, the U.S. energy company, is looking at alternative arrangements for supplying electricity to data centres after regulators rejected a plan that would have fuelled an Amazon data centre directly from Talen’s Pennsylvania nuclear plant. The prospect of striking direct deals with Big Tech data centers has sparked a huge interest in independent U.S. energy producers such as Talen. This is what has pushed the shares of these companies to new highs. Co-located arrangements in which power plants are located near or at the data centers could eliminate the year-long waiting times for connecting to the wider electrical grid....

Talen Energy, a utility, reported a first-quarter loss on Thursday. Higher interest and energy costs were to blame, and its shares fell 3.3% during premarket trading. Interest rates that are higher for longer burden utilities, as they make the cost of investing in power grids and infrastructures such as roads and bridges higher. Talen reported that its interest costs increased 25.4%, to $74 millions during the quarter. Total energy expenses also rose 10.8%, to $235,000,000. The loss for the quarter was also due to the absence of gains from the $650 million sale of a Data Center last year to...

Vistra Corp reported a loss for the first quarter of the year on Wednesday. The independent power producer suffered from setbacks with its hedging and increased costs. Its shares fell nearly 6% at the opening of trading. The company stated that the quarter's deficit was mainly due to unrealized losses on derivative positions, as energy prices rose in advance periods. The utility was impacted by the continued high interest rates for a longer period of time, as this made the cost to invest in critical infrastructure like electrical grids and construction more expensive. Vistra's interest expenses rose by nearly 88%,...

The Malaysian data centre company Equinix announced on Wednesday that it was looking into alternative sources of energy, as it anticipates an increase in domestic electricity rates to raise its costs. The Malaysian government announced previously that it would increase electricity rates by 14.2% this July. Equinix Malaysia's managing director Cheam Tat Inn said that the company was looking into a variety of renewable energy service providers during a tour of the completed second phase of their data center in Cyberjaya. Cheam didn't specify the renewable sources used or a time frame. Equinix Malaysia operates two data centers, Cyberjaya, and...

The U.S. Energy Information Administration reported on Tuesday that perceptions of an oversupply by oil market participants due to increased OPEC+ production and uncertainty regarding the economic impact of tariffs has led to a rise in short-term volatility of oil prices. Oil prices fell to a record low of four years on Monday, after the Organization of the Petroleum Exporting Countries (OPEC+) and its allies agreed to increase oil production for June. Later, it was reported that the group plans to continue speeding up its output increases. The EIA still expects OPEC+ production to remain below the current target path....

The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook, published on Tuesday, predicted that both the U.S. Natural Gas output and demand would reach record levels in 2025. EIA projects that dry gas production will increase from 103.2 billion cubic feet per day (bcfd), in 2024, to 104.9 bcfd, in 2025, and to 106.4 bcfd by 2026. This compares to a record-breaking 103.6 bcfd for 2023. The agency also predicted that domestic gas consumption will rise from 90.5 bcfd, a record in 2024, to 91.3 bcfd by 2025 and then ease back to 90.7% bcfd by 2026. The EIA's May...

Constellation Energy, the largest U.S. energy company, missed Wall Street's expectations on first-quarter profits. The major U.S. utility was hit by rising costs for building and operating its electricity infrastructure. Interest rates that are higher for longer can increase the cost of utilities and make it more costly to invest in electrical grid infrastructure. The net income of the company fell by around 87% compared to a year ago, and was $118 million for the quarter reported. Constellation Energy reported that interest expenses increased by nearly 15% compared to a year ago, to $146 millions in the quarter January-March. Total...

Constellation Energy, a U.S. utility, missed Wall Street's expectations for the first quarter profit on Tuesday. Higher operating and interest costs pushed its shares lower by nearly 5% during premarket trading. The net income of the company fell by around 87% compared to a year ago, and was $118 million for the quarter reported. The higher interest rates for longer can be a burden on utilities, as they make it more expensive to invest in critical infrastructure like electrical grids. Constellation Energy reported that interest expenses increased nearly 15% compared to a year ago, to $146 millions in the quarter...

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...

Alparslan Bayraktar, Turkish Energy Minister, said that Turkey has been in discussions with Candu Energy of Canada and other companies about plans to build Turkey's second and third nuclear plants. Bayraktar, who spoke to journalists during a trip to southeast Turkey Monday, said that Turkey wanted to "put names" on the projects it planned for this year. "Russia, South Korea, and China are all interested in the second or third power plant. He said that in addition to the countries and companies mentioned above, we were also in negotiations with other nations. Canada is one of them. "The Candu company,"...

On Wednesday, the chief designer of China’s lunar exploration program accused the United States of interfering with Beijing’s efforts to cooperate in space programmes with Europe and other partners. Wu Weiren told foreign media in a rare, exclusive interview that China had a policy of "open space diplomacy" in contrast to the U.S. and was open to cooperating with both developing and developed nations on lunar exploration. Wu said that the International Lunar Research Station, an initiative led jointly by Russia and China, to establish a permanent lunar base by 2035 was progressing well. Already, 17 countries and organisations have...

A senior official revealed on Wednesday that China was considering building a nuke plant on the Moon to power an International Lunar Research Station with Russia. China wants to be a major spacepower by 2030 and send astronauts to the moon. Its planned Chang'e-8 lunar mission in 2028 will lay the foundation for the construction of a permanent manned lunar base. Pei Zhaoyu, Chief Engineer of the 2028 Mission, presented in Shanghai that the energy supply for the lunar base could be based on large-scale solar panels, as well as pipelines and cables built on the surface of the moon....

In the current term of the U.S. Supreme Court, there are cases that involve guns, gender affirming medical care for minors who identify as transgender, online pornography and religious rights, TikTok and preventive healthcare. There are also cases involving funding Planned Parenthood, job discrimination and federal regulatory powers over nuclear waste storage, vape products and voting rights. Take a look at the recent and upcoming cases that the justices will be deciding. 'GHOST GUN' On March 26, the court upheld a federal rule targeting "ghost guns", which are largely untraceable, imposed by former Democratic President Joe Biden in an effort...

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...

China's coal exports increased 2.1% in the past year, according to official data released on Friday. The import arbitrage was still open, despite the risks that could affect the outlook of imports. China releases data for both months together to reduce the impact of Lunar New Year which can fall in either month. Data from the General Administration of Customs shows that imports from January to February were 76.12 millions metric tons. This is up from 74.52million tons the previous year. Two major industry groups last week called for limits on coal imports from China, especially low-quality coals, due to...

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...

As part of the Trump administration's "maximum-pressure" campaign against Tehran, the United States on Wednesday imposed sanctions on six entities in Hong Kong and China that they accused of involvement in an Iranian drone acquisition network. The U.S. Treasury Department announced that entities involved in the procurement of components for unmanned aerial vehicles (UAVs) on behalf of a firm under U.S. sanction, Pishtazan Kavosh Gostar Boshra and its subsidiary Narin Sepehr Mobin Isatis were also key suppliers to Iran's UAVs and ballistic missile program. We were unable to reach PKGB and NSMI immediately for comment. Treasury Secretary Scott Bessent stated...

Cuban President Miguel Diaz-Canel opened the first of 92 Solar Parks on Friday, as part of an initiative backed by China to reduce the number of blackouts that can last for hours in the Caribbean Island nation. The park in Havana is one of 55 that are expected to be online by this year. It will generate 1,200 megawatts. Last year, the outdated power grid of this Communist-run nation collapsed multiple times. A severe fuel shortage made it impossible for smaller clusters to operate diesel-powered generators which typically backup the system. Blackouts that lasted for years have weakened the economy,...

The Ganfeng lithium mining company in China has started producing lithium in its Mariana project, located in northern Argentina. This is the first of many new lithium projects that are underway in South America. Ganfeng, one of the largest producers of white metal in the world is used primarily to manufacture rechargeable batteries. The Mariana plant in Salta province represents an investment of $790 million and is capable of producing 20,000 metric tonnes of lithium chloride each year. This comes from the extraction of the Llullaillaco flat salt. Ganfeng spent another $190 million on a solar park that will support...

Japan's agricultural, forest and fishery exports rose by 3.7% in 2024 to reach a new record, despite China banning seafood imports after the Fukushima nuclear plant water discharge. The Ministry of Agriculture, Forestry and Fisheries said that exports in 2018 totaled 1.507 trillion yen, up from 1.454 billion yen by 2023. Kazuyoshi Nakasugi, deputy head of MAFF’s export policy planning department, noted that it was the 12th consecutive year of growth and a new record. He also pointed out that exports from China and Hong Kong were down, but exports in other parts of Asia and the United States increased....