Power Markets

Donald Trump stated on Tuesday, during his State of 'Union address, that his administration had told major 'technology companies to build their own data centers. This was a measure meant to protect the consumers from soaring bills. The announcement coincides with a growing local opposition against energy-hungry projects in data centers around the country, which are blamed for an increase in electricity prices. "I'm happy to announce tonight that I have successfully negotiated a new rate payer pledge. What is that? He said that we were telling major tech companies they had to "provide for their own energy needs". We...

Google, owned by Alphabet, has stepped up its efforts to ensure power for its data centers in the United States. On Tuesday, it signed separate agreements with AES Corp. and Xcel Energy. Big Tech firms have ?been scouring for new, ?reliable ?and cleaner energy sources to power their rapidly expanding data centers, which have been driven by increasing use of artificial-intelligence applications. Utilities have invested heavily in upgrading the grid to meet the surge in demand. However, this has led to concerns over the increasing cost of customer bills. Xcel has entered into an agreement with Google to power its...

Constellation Energy, a major U.S. energy company, beat Wall Street estimates for its fourth-quarter adjusted profits on Tuesday. The rise in electricity demand from data centers helped to send shares up by 4% during morning trading. The Energy Information Administration stated in its short-term energy outlook last month that the U.S. is expecting to increase power consumption through 2027, after having set a record for a second consecutive year in 2025. The rapid construction of AI and crypto data centers, as well as the shift by households and businesses to electric heating and transport, are driving much of the demand....

Xcel Energy announced on 'Tuesday that it had partnered with Google in order to 'power the tech giant’s new data centre in Pine Island, Minnesota. while contributing 1,900 Megawatts a new - clean energy to the grid. The U.S. is expecting its power consumption to rise rapidly in the coming years, mainly due to the rapid expansion of data centers, which are used for artificial intelligence and cryptocurrency. Utility companies have invested billions of dollars to upgrade the electric grid in order to meet this demand. However, this has led some customers to worry about their?bills increasing. Xcel stated that...

Constellation Energy, a major U.S. energy company, beat Wall Street expectations for its fourth-quarter adjusted profit on Tuesday. This was due to the rising demand for electricity from data centers. In premarket trading, shares of the company increased by 1.4%. The Energy Information Administration's Short-Term Energy Outlook said that the U.S. is likely to increase its power consumption this year and next after setting a new record in 2025. The rapid expansion of data centers to support artificial intelligence services and cryptocurrency is a major factor in the surge of demand. Other factors include a move by businesses and homes...

The Financial Times reported that Iran had agreed to a secret arms deal worth?500m euro ($589m) with?Russia for the acquisition of thousands of advanced shoulder fired missiles. The FT reported that the agreement was signed?in Moscow _in December_ and commits Russia to delivering 500 man-portable 'Verba' launch units and 2,500 '9M336'missiles over a three-year period. It cited leaked Russian documents and people familiar with this deal. Could not verify the report immediately. The FT reported that the delivery schedule is three tranches from 2027 to 2029. The FT reported that the deal was negotiated by Rosoboronexport, the Russian state arms...

Alliant Energy, a U.S. utility company, beat Wall Street estimates for its fourth-quarter profit on Thursday. The success was due to a robust 'power demand' and strong performance in the 'electric and gas segment. U.S. electricity consumption reached record levels last year, and it is expected to continue to increase in 2026 as AI and crypto data centers expand. Alliant's revenue from its electric utility business grew to $870 millions in the quarter that ended on December 31. This is up from $793 million one year earlier. The quarterly gas segment revenue increased by 11%, to $159 millions. The company...

Consolidated Edison, hurt by higher operating and interest costs, missed Wall Street's expectations for the?fourth quarter profit? on Thursday. Interest rates that are higher for longer can increase borrowing costs. Operating expenses for the company rose to $3.51 billion in the third quarter, up from $3.16 billion a year ago. Interest?expenses rose from $304 to $313 millions, up from $304 millions a year earlier. According to LSEG, the 'New York-based utility' posted an adjusted profit per?share of 89 cents for the three months ended December 31. This compares with analysts' average estimates of 95 cents. The company anticipates capital investments...

Southern?Co increased its five-year budget by 7%, as the U.S. South's largest electric and gas utility sells more electricity. U.S. utilities have invested heavily in upgrading electric grids as a result of extreme weather, the growing demand for power from data centers dedicated AI and cryptocurrency and a shift among homes and businesses to electric heating and transportation. Southern Co CEO Chris Womack told investors that the country and the energy industry are at a "watershed moment". Southern Co plans to spend $81 billion between 2026 and 2030, up from its previous five-year budget of $76 billion. About half of...

Southern Co on Thursday forecast an annual profit that was below the?estimates of analysts, and increased its five-year budget plan to prepare for a?unprecedented power demand from large-load customers such as data centers and industries. U.S. utilities are investing heavily in upgrading their electric grids to cope with extreme weather, the demand for power from data centers dedicated to AI/cryptocurrency and the shift of homes and businesses to electric heating and transportation. Southern Co. expects to spend $81 billion between 2026 and 2030, compared to its previous five-year plan of $76 billion. The utility announced that it had signed contracts...

The administration of President Donald Trump announced on Tuesday that Japan would?finance three projects worth $36 billion, including an oil-export facility in Texas, a diamond plant in Georgia, and a natural-gas power plant in Ohio. Trump stated on Truth Social that the projects were part of Japan's $550 Billion U.S. Investment pledge, as part a trade agreement that reduced Trump's tariffs against Japanese imports by 15%. Trump gave very few details on the projects. In a statement, Commerce Secretary Howard Lutnick stated that the Portsmouth, Ohio, power plant would be the world's largest natural gas-fired generation facility with a capacity?9.2...

U.S. Military flies small reactor from California to Utah Microreactors are seen as an alternative to diesel generators for remote areas Talks are ongoing with several countries about the disposal of nuclear waste. By Valerie Volcovici HILL AIR FORMATION BASE, Utah. Feb. 15 - On Sunday, the U.S. Departments of Energy and Defense transported a small reactor from California to Utah on a 'cargo plane. This was to 'demonstrate that nuclear power can be quickly deployed for military and civilian purposes. The agencies worked with California-based Valar Atomics, to fly a Ward microreactor on a C-17 plane -- without nuclear...

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...

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....

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...

Kyiv reported that Russia launched an air assault on Ukrainian energy infrastructure overnight Saturday. The attack targeted electricity generation and distribution. Volodymyr Zelenskiy, the president, said that the attack, which took place overnight, involved over?400 drones and 40 missiles. The targets were the grid, the generation facilities, and the distribution substations. Ukraine's energy sector, battered by Russian attacks, war damage, and the bitterly cold winter, is in ruins nearly four years after the war began. ZELENSKIY: RUSSIA Chooses Strikes Over Diplomacy Zelenskiy wrote on X: "Everyday, Russia could choose diplomacy but instead it chooses to launch new attacks." It is...

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...

Volodymyr Zelenskiy, the president of Ukraine, accused Russia of exploiting an energy truce backed by the United States to stockpile weapons and use them to attack Ukraine using hundreds of drones as well as a record number ballistic missiles a day before peace talks. Zelenskiy stated that Ukraine is waiting for the U.S. response to Russia's attack overnight which damaged Ukraine's infrastructure. Washington had already prompted a "short-lived" ceasefire on?attacks against energy targets. Donald Trump, the U.S. president, told reporters that Vladimir Putin, the Russian president had signed an agreement which expired on Sunday. He said, "It's Sunday to Sunday...

Officials said that Russian drones bombarded the southern Ukrainian city Odesa overnight. They killed three people and injured 25 others, as Moscow intensified its strikes to push Kyiv into giving up 'fighting. The attack was part of a winter campaign by Moscow to strike Ukrainian energy infrastructure. Kyiv is under pressure from the United States to accept a peace agreement to end the almost four-year-old war. Volodymyr Zelenskiy, the Ukrainian president, said that Russia launched over 50 drones in Odesa. He described this as an "brutal attack" on the city. Ukrainian and Russian negotiators are preparing for a new round...

MOSCOW, January 25. The town that is home to Russia's largest naval base had to switch over?to an emergency generator after old power lines collapsed during bad weather. This cut off electricity and some heating. Severomorsk is the most important naval command in Russia. It's located on the Kola bay of the Barents Sea. The Russian Navy's most important command is located in the closed town of Severomorsk, which is home to Russia's largest fleet of ballistic missile submarines. It also controls a vast arsenal of nuclear warheads and missiles as well as repair yards. Andrei Chibis, governor of the...

Ukraine's energy network on Thursday experienced its most difficult day since a widespread power outage hit the system in November - 2022. The situation is still "extremely difficult, Energy Minister???Denys?Shmyhal? said. In the nearly four-year old war, Russia has been targeting Ukraine's energy systems. But the attacks intensified recently, causing heavy damage to networks and knocking power and heat out for large swathes. The power was cut to thousands of apartment blocks in Kyiv during two nights of strikes this month. Shmyhal is also the first deputy premier and he said that the recent difficulties were due to a number...

China has halted imports of Russian electric power, the?Kommersant?newspaper reported Friday. Citing sources who are familiar with the situation, and citing high prices, Russia stated that it was prepared to resume sales, and talks were in progress. The Chinese government did not respond immediately to a comment request. The Russian energy ministry said that the first priority was to meet the rising demand for electricity in Russia's Far East but it could resume supplying to China if the terms agreed. It said that "Russia could resume electricity exports from China if Beijing makes a similar request and mutually beneficial terms...

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....

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...