Flow battery technology could soon outcompete single-cycle gas-fired turbines according to a new study. “By 2018 the cost of ViZn Energy’s 4-hour storage solution, which was selected by Energy Strategies Group as a proxy for the lowest cost multi-hour storage solutions currently being commercialized, is projected to be $974 per kW, nearly identical to that of a conventional simple cycle peaker. For a 4-hour storage resource – that translates to $244 per (installed) kilowatt-hour of capacity. Given the added benefits of installing storage in the distribution network, by 2018 storage will be a winner against the mid-range cost for a simple cycle CT and clearly disruptive compared to higher cost simple cycle CTs. [Renewable Energy World]

With Opec set to meet in a little over two weeks, analysts are trying to figure out whether the producer group will cut output to shore up prices or simply let the market sort things out. “[Ed] Morse said a recent trip by Naimi to non-member Mexico could be an attempt to rally support for a broad-based cut from both inside and outside the group, as was arranged in the late 1990s. Another possibility is that the group will be overtaken by events. OPEC member Libya, which saw production recover from around 100,000 bpd in June to near 900,000 bpd in September, is again gripped by political strife. [Reuters]

A combination of factors led to sluggish performance for Siemens’ Russian operations. The engineering giant supplies equipment to the power, LNG, rail and other sectors. “Moeller went down the list of culprits for the poor Russia performance: An economic slowdown has slashed growth in the company’s markets, while Western sanctions have marred Russia’s business climate and investment activity. A dramatic 25 percent slump in oil prices and the devaluation of the ruble by a third since the beginning of the year have exacerbated the uncertainty, he said. [Moscow Times]