Power Markets

DTE Energy announced increased first-quarter profits on Thursday. This was aided in part by its strength in the gas and energy trading segment. It also said it expects tariff impacts to be manageable. DTE's $30 billion capital spending plan is expected to have a limited impact. The power industry has been bracing itself for potential tariff costs as a result of the U.S.-Canada trade war. DTE Energy has partnered with GM, Ford, and BMW in order to increase the use of renewable energy in Michigan. It also said that it has a margin risk between 3% and 4% due to...

PPL Corp, an electric and gas utility company, beat Wall Street's first-quarter estimate on Wednesday thanks to favorable weather conditions in Pennsylvania and Kentucky and higher transmission rates. Both states saw an increase in electricity sales of 6.6% during the third quarter. This helped offset higher costs, and increased operating revenue by 8.7%. The U.S. is expected to hit record-high power consumption in 2025 and '26. This will be due to the rapid expansion of data centres and increased use of electricity by homes and businesses for heating and transportation. According to the company, active data center demands from 2026-2034...

Entergy, the U.S. electric company, is planning to upgrade its existing nuclear plants in the South of the United States while considering advanced nuclear technology. This was announced by executives on Tuesday. In recent years, U.S. Nuclear Power, which is almost carbon-free, has become increasingly popular, especially as Big Tech struggles to balance its growing electricity demands with climate-driven energy commitments. Entergy announced on a conference call with investors that it recently completed a refueling shutdown at its River Bend Nuclear Plant and is planning work to clear the site for the expansion of the 967 megawatt St. Francisville plant...

Entergy, a U.S. utility company, surpassed analysts' estimates for the first-quarter profits on Tuesday thanks to strong demand for electricity and lower costs. The U.S. Energy Information Administration predicts that power consumption will reach new records in 2025 and in 2026. This is due to the rapid expansion of data centres dedicated to artificial intelligence, cryptocurrency and home and business use more electricity to heat and transport. According to a study backed by the Department of Energy, power demand for U.S. data centres is expected to triple by 2028. This could use up to 12% of all electricity in the...

PG&E Corp. missed its first-quarter profit estimate on Thursday as it was hit by higher operating expenses and interest costs. Interest rates that are higher for longer increases the borrowing costs of utility companies. These companies need to borrow more money for their expenses, such as grid maintenance. PG&E's interest costs rose by 2.7% in the first quarter of this year, to $734 millions. In January, multiple wildfires scorched thousands of acres in Los Angeles. This is expected to be the costliest natural disaster in U.S. History. Electric utilities in the area have also been under increased scrutiny. The utility...

PG&E Corp. missed its first-quarter profit estimate on Thursday as it was hit by higher operating expenses and interest costs. Interest rates that are higher for longer increases the borrowing costs of utility companies. These companies need to borrow more money for their expenses, such as grid maintenance. PG&E's interest costs rose by 2.7% in the first quarter of this year, to $734 millions. In January, multiple wildfires scorched thousands of acres in Los Angeles. This is expected to be the costliest natural disaster in U.S. History. Electric utilities in the area have also been under increased scrutiny. PG&E will...

OpenAI CEO Sam Altman is stepping down as chairman of Oklo's nuclear technology startup, opening the door to a possible tie-up. Shares of Oklo fell more than 11 percent in Tuesday's extended trading. Jacob DeWitte will become chairman of Oklo, the company that aims to build its first small nuclear reactor module by 2027. Caroline Cochran said that the startup would continue to "explore potential strategic partnerships with OpenAI and other leading AI companies", in a press release. Altman's AltC Acquisition Corp., a special purpose acquisition corporation, will acquire Oklo in the U.S. by May 2024. After decades of stagnation...

The Energy Department announced on Tuesday that a Michigan nuclear reactor, which hopes to be the United States' first to restart after permanent shutdown, has received approximately 10% of the $1.52 billion U.S. funding approved during former president Joe Biden’s term. The Department's Loan Programs Office approved the disbursement of nearly $47 Million of the loan guarantee for the Palisades Nuclear Plant Holtec Inc hopes will reopen this year. The loan guarantee, which was approved by Biden's administration, was a conditional loan that was made to Palisades. This was the second time the Trump administration has disbursed money. The original...

Josh Cochran has been working in West Virginia coal mines since he was 22, earning a six-figure income that enabled him to purchase a house with his wife Stephanie, and go hunting and fishing in his free time. He was diagnosed with advanced lung disease at 43 years old. He is now awaiting a lung donation, uses an oxygen tank to breathe, and requires his wife's help with basic household tasks. He says that his saving grace is the fact that he still has a job. Part 90, a federal program administered by the Mine Safety and Health Administration and...

U.S. Energy regulators granted BlackRock permission on Thursday to continue owning major stakes in utilities. This was a victory for the top asset manager of the world over concerns it had too much power. Mark Christie, the Republican Chairman of the U.S. Federal Energy Regulatory Commission, also endorsed its decision. Mark Christie wrote that despite his concerns over BlackRock's power in the market, public utilities still need to access capital. He wrote: "It's a reality of the economy that public utilities regulated under the Commission are forced to seek out investment capital wherever it may be available. And much of...

Iranian state media reported that Iranian Foreign Minister Abbas Araqchi arrived in Moscow on Friday to deliver to Russian President Vladimir Putin a message sent by the Islamic Republic's supreme leader Ali Khamenei. U.S. president Donald Trump has repeatedly warned Iran of bombings and secondary tariffs, if Tehran fails to reach an agreement with Washington regarding its disputed nuclear programme. The United States have also moved additional warplanes in the region. Both sides characterized the U.S.-Iran talks held in Oman at the weekend as constructive and positive. Araqchi stated on Wednesday, ahead of the second round of negotiations that will...

The Russian Defence Ministry announced on Thursday that Russian air defence systems intercepted or destroyed 71 Ukrainian drones in six Russian regions over the course of one night. The majority of drones, 49, were brought down in the Kursk area, while others fell in Oryol and Ryazan regions, Bryansk and Vladimir, Tula, or Oryol. According to a Telegram statement, authorities in the Ivanovo Region of Russia, located east of Moscow said that Ukrainian drones attacked the town Shuya but no injuries or damages were caused. Shuya is under attack for the second time in a week. It is located around...

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....

Kansai Electric Power Co, Japan's largest nuclear power company, has raised its profit forecast by 40% for the fiscal year that ends in March to 365 billion Japanese yen ($2.4billion) due to higher nuclear power runs as well as stronger earnings from its transmission and distribution businesses. Kansai Electric has five nuclear reactors with a combined power of 4.6 gigawatts. This was the case as of December 31. The company increased its nuclear capacity factor forecast, an indicator of nuclear power load to 85% on Friday from the previous expected 80%. Kansai Electric expects its profit in the transmission and...

Helion, a start-up working to create electricity from nuclear combination, on Tuesday stated it has raised $ 425 million in endeavor financing from a group of financiers led by SoftBank Group's Vision Fund 2. The Everett, Washington-based Helion said the financing will help it speed up the development of its next generation combination reactor design, which intends to take advantage of the very same responses that power the sun to make carbon-free electrical power without lasting radioactive waste. The business has an agreement with Microsoft to start providing power in 2028. Helion is amongst the lots of public and personal...