Renewable Energy

The French spot electricity prices dropped on Wednesday as a result of predictions for higher wind power production in Europe. Weaker consumption in Germany also added to the downward pressure. However, the German day-ahead contract was not changed early. LSEG's analysis mentioned that a stronger German thermal power generation capacity and a higher availability of French nuclear energy were also factors affecting prices. The price of French baseload electricity for Thursday was 39 euros ($45.41 per megawatt-hour) at 0745 GMT. This is 31.6% less than the previous night's closing price. The German equivalent contract has not been traded for the...

The market for Malaysian palm oils futures closed lower on Thursday. This was due to concerns about rising inventories, production and weak export demand. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for October delivery fell 26 ringgit or 0.61% to 4,241 Ringgit ($1,002.60). David Ng said that the price of crude palm oil futures fell on concerns about rising production and stockpiles in the coming week. He is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn. Bhd. The recent weakness in export demand has also been seen to weigh down on...

Ofgem, the British energy regulator, announced on Wednesday a review of how costs are allocated throughout the energy system. This includes alternative pricing models for consumers, in order to better adapt to a more renewable energy supply. The UK has set a goal to decarbonise the power sector in its entirety by 2030. This will require a reduction of its dependence on gas-fired plants, and accelerated growth in renewable energy capacity. Ofgem stated that a less reliance on gas prices will reduce the variable costs in the energy system. Jonathan Brearley, Ofgem's chief executive, said that fixed costs could increase,...

The French power price increased on Tuesday as a result of a tighter supply and reduced availability of wind and solar power in Europe, while Germany's position was untraded but bid higher. Riccardo Paraviero, LSEG analyst, said: "Tomorrow, the outlook is bullish to sideways, with a main signal coming from falling solar power supplies." The French baseload contract for Wednesday had risen by 2.9% to 45 euros ($52.03), while the German equivalent was offered at 79 euros/MWh after closing at 77.3 euros. The French nuclear capacity has decreased by two percentage points in the last week, to 78%. The Goesgen...

On Tuesday, wind and solar energy supply will likely increase throughout the region, offsetting growing demand while French nuclear power supply rises. LSEG data shows that the German baseload contract for Tuesday had reached 77.75 Euros ($90.77 USD) per megawatt-hour (MWh), while the French equivalent was 45 Euros/MWh. On Friday, both Monday contracts were not traded. LSEG analyst Xiulan he said that a general bearish outlook for Germany is expected on Tuesday, as the supply of wind and solar energy increases, with imports into Germany expected throughout the day. LSEG data indicated that the German wind power production was projected...

Documents from the government show that Britain will increase its guaranteed price for offshore wind projects by 11% in this year’s renewables auction, due to rising costs of projects because of inflation and supply-chain bottlenecks. Labour's government faces increasing pressure from the opposition over its affordability of net-zero and after a 66% increase in prices for offshore wind at last year’s auction. In a late-Wednesday document, the Department for Energy Security and Net Zero stated that "renewable technologies continue face macroeconomic uncertainties and supply chain restrictions - this is especially true for wind technology." Offshore wind is at the core...

Around the globe, green hydrogen developers are cancelling their projects and reducing investments. This could lead to a longer-than-targeted reliance on fossil energy. The sector's initial goals have been exposed as being unrealistic due to the challenges it faces. Green hydrogen is prohibitively expensive for industries that are hard to electrify, like steelmaking and long distance transportation. Jun Sasamura is the hydrogen manager for Westwood Global Energy. He said that the gap between European ambitions and actuality shows the magnitude of the industry's reset. He said that only a fifth (or less) of all planned hydrogen projects in the European...

It said that the New York State Public Service Commission had terminated its offshore transmission planning due to a stalled federal permit, in order to protect ratepayers of New York State from premature infrastructure costs. This ends the Public Policy Transmission Needs process, which was seeking proposals for delivering up to 8 gigawatts (or more) of offshore wind energy to New York City before 2033. The commission cited federal actions that have halted new offshore wind leasing, permitting and it claimed this makes short-term project implementation unfeasible. Rory M. Christian, Chair of the Commission, said: "Given Washington's uncertainty we need...

Data released on Tuesday showed that renewable energy made up 54.5% (down 2.7 points) of Germany's electricity consumption in the first half of the year. This was due to the slowing wind speed, which curbed the generation. Germany is increasing its green energy capacity in order to move towards a low carbon economy. It also wants to achieve a political target of renewables accounting for 80% by 2030. After it stopped importing Russian gas as a response to the Ukraine War, it also needs to use renewable energy to fill in the gaps. The data released by BDEW on Tuesday...

German and French baseload electricity prices for the day ahead fell by around 20% on Wednesday, as a cooling heatwave in Europe is expected to reduce demand. Meanwhile, increased wind power production in Germany will increase supply. LSEG data show that the German baseload day-ahead contract fell 19.3% to 86.75 Euro per Megawatt Hour (MWh) at 1011 GMT. The equivalent French contract, at 82.50 Euros/MWh, was 19.7% less expensive. The benchmark European power price has exceeded 100 euros per Megawatt Hour (MWh) for the first since April, as a heatwave early in summer spreads across Europe and increases electricity demand....

Nextwind, an European renewable energy provider said that on Tuesday it had secured debt financing of 1.4 billion euro ($1.6 billion) for the expansion a German wind energy project. This deal allows the Berlin-based company to raise an additional 1.3 billion euro in the next five year if it meets its capacity targets. The financing is the largest ever by an independent German wind energy company. According to a source familiar with the transaction, Deutsche Bank, ING Bank, and LBBW participated in the financing as well as acting as underwriters. Nextwind has stated that it plans to increase the total...

In a Wednesday progress report, Britain's climate advisors stated that the country must lower its electricity prices in order to accelerate the adoption of technology to reduce emissions, such as heat pumps and electric vehicles. Britain is aiming to achieve net zero emissions in 2050. This will require electrification for sectors like heat and transport that are currently dominated by fossil fuels. It also faces high electricity prices. Piers Forster said in an annual report briefing that the "most important recommendation" we have for government is to lower the cost of electric for both households and businesses. He said that...

Malaysian palm futures ended lower on Thursday after four sessions of gains. Investors booked profits while an Indonesian industry group reportedly lobbied the government to postpone the B50 biofuel mandate. The benchmark contract for palm oil delivery in October on the Bursa Derivatives exchange lost 30 ringgit or 0.68% to 4,405 Ringgit ($1,046.32) per metric ton. A local news website quoted Eddy Martono, the chairman of the palm oil industry GAPKI as saying that the plan could lead to a decrease in palm oil exports. GAPKI was told that it did not submit a written request, but a government official...

Imports of seaborne coal from Asia increased in July, but this increase was mainly driven by developed economies in North Asia rather than the heavyweights China or India. According to Kpler, the total seaborne imports for fuel used to generate electricity grew by 12% in July from June's figure of 63.02 millions tons. The increase in July imports coincides with a weakening trend for Asia's seaborne shipments of thermal coal, as the top buyers China & India reduced purchases due to abundant domestic supplies and increasing generation from renewables. Kpler data shows that Asia's imports in the first seven month...

The Indonesian mining ministry has compiled a list with 18 projects totaling $38,6 billion for the development of natural resources in Indonesia. It handed it to Danantara Indonesia, a sovereign wealth fund on Tuesday to be considered for investment. Danantara, launched earlier this year by Indonesian President Prabowo Subito, is his main vehicle for achieving his 8% target of economic growth by 2029. It does so by managing the shares of all state-owned companies and reinvesting dividends into commercial projects. Prabowo's economic agenda includes the development and acceleration Indonesia's processing industries. Energy and Mineral Resources minister Bahlil lahadalia stated that...

An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country accelerated its local solar power production and imported more renewable energy. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state. The cross-border trade of power is seen as a key...

India has allocated record volumes of rice for ethanol production, as it battles with unprecedented inventories. These are expected to grow further when the new crop arrives. This is a turnaround from the earlier shortages which led to export restrictions. The conversion of more rice into ethanol helps reduce the rice stock in the world’s largest producer and exporter. It also keeps India’s ambitious ethanol blend programme on track, despite the drop in sugar cane supplies. India lifted the last of two years' worth of export restrictions in March. The poor rains had curtailed rice production. The abundant monsoon rainfall...

Malaysian palm oils futures closed higher on Friday. This was the sixth weekly gain in a row, despite a weak demand for palm oil in major markets. The benchmark contract for palm oil delivery in September on Bursa Derivatives Malaysia Exchange increased 11 ringgit or 0.27% to 4,115 Ringgit ($968.24), the highest closing rate since April 15. This week, the contract increased by 4.79%. Paramalingam Supramaniam said that trading volumes were relatively low and prices had been largely accounted for by most internal and external factors. "For the trend to continue, it will be necessary for more bullish news." Demand...

The companies announced in a Monday statement that they will invest $1 billion into a 100 megawatt data center in Thailand. Southeast Asia and its neighbours are becoming a popular destination for tech companies looking to invest in data centres and digital infrastructure. They want new clean energy sources to meet the soaring demand of artificial intelligence. The announcement on Monday was the latest of a series by tech giants to invest in Thailand. Bytedance Tiktok will invest $8.8 billion in five years, and Alphabet Inc.'s Google is also planning an $1 billion facility. The Thai Investment Board approved in...

Malaysian palm futures continued to fall on Thursday as investors booked profits, and the prices of competing edible oils dropped. The benchmark contract for palm oil delivery in August on the Bursa Derivatives exchange fell 44 ringgit or 1.11% to 3,904 Ringgit ($923.59) per metric ton. Anilkumar bagani, the head of research for Mumbai-based Sunvin Group, said that palm oil futures had been trading lower due to profit taking, low energy prices, and weakness in other vegetable oil markets, such as those in China and the U.S. Dalian's palm oil contract, which is the most active contract, fell by 0.37%...

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...

Due to high tariffs, China's exports of used cooking oil to the United States - its biggest buyer - are expected to plummet in the coming months. Sellers will be forced to divert shipments elsewhere or to Europe, according to industry players. The Trump administration has imposed a 125% tariff on Chinese UCO imports starting this month. Three UCO traders in China said that the U.S. shipments, which were worth $1.1 billion last fiscal year, have been falling. The last cargoes are expected to arrive around the end of March or early April, before the trade grinds to an abrupt...

The price of Malaysian palm oils rose for the third session in a row on Friday. This was due to strong demand before Eid al-Fitr, an Islamic holiday. Also, rival vegetable oil prices were strong. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 108 Ringgit or 2.5% to $4420 ringgit (US$996.62) per metric ton. The contract rose 1.03% in the last week, marking its first weekly increase in three. A Kuala Lumpur based trader stated that "Today crude palm oil future prices are up due to strong physical demand because of the holiday...

The price of palm oil in Malaysia fell for the third time on Tuesday, to its lowest close in almost two months. This was due to lower prices for rival vegetable oils at Dalian and Chicago and weaker export data. The benchmark June palm oil contract on Bursa Malaysia's Derivatives exchange lost 58 Ringgit or 1.35% to close at 4,247 Ringgit per metric ton, its lowest price since January 27. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group vegetable oils brokerage, said: "The sentiments in palm oil are bearish right now because it has been forced by the...