German energy firm E.On has said its annual net losses more than doubled in 2015 to €7bn after it wrote down the value of its loss making power plants by €8.8bn. [BBC News] Chevron Corp.’s Gorgon natural gas project off Australia’s northwest coast boasts the world’s biggest carbon dioxide storage facility and will cost the… Keep reading →
Energy firm E.On has announced a 5.1% reduction in its standard gas price for residential customers. [BBC News] In an AP interview, Iran’s foreign minister is decrying what he calls the United States’ “addiction to coercion” with its new sanctions against Iran over ballistic missile tests. [ABC/AP] The oil price slump below $30 barrel is… Keep reading →
Germany energy giant E.ON has officially separated its fossil fuel assets into a new company, dubbed Uniper. [The Guardian] Oil prices quickly gave back early gains to close lower on Monday after investor concerns about Middle East tensions gave way to a continued focus on weaknesses in global economies. [The NY Times] New Jersey is… Keep reading →
UN negotiators are meeting in Lima, Peru to construct a draft climate change mitigation agreement that will be finalized over the next year with the goal of signing it in Paris in 2015. The plan is to allow each country to develop a greenhouse gas emissions reduction strategy that can be realistically achieved. “But while… Keep reading →
The German government is providing the country’s largest utility E.ON loans to help competitively bid for global LNG supply as Berlin seeks to diversify gas import sources away from Russia. The loans strengthen E.ON’s credit rating and help the company compete with government-backed companies that LNG suppliers favor. “Those guarantees have in the past been… Keep reading →
Here is a roundup of some of this week’s more interesting energy deals: The BP-led Shah Deniz consortium signed a 25-year sales agreement for more than 10 billion cubic metres per year of natural gas from the second phase of development at the giant Shah Deniz field offshore Azerbaijan. Shah Deniz will deliver gas directly… Keep reading →
IBM is looking to capture a share of Europe’s growing “smart” electricity market. IBM has inked a deal with the metering division of EOn, Germany’s largest utility, to deliver a data and analytics platform, the Intelligent Energy Service Enablement Platform, for Smart Grid customers in Germany, Austria and Switzerland, with plans to expand offerings to… Keep reading →
Coal that’s being priced out of the US market by cheap natural gas is being burned instead in Europe, where it’s cheaper than natural gas with prices traditionally linked to oil.
The resulting pressure is beginning to break down those links, and the differential between natural gas prices in the US and Europe could diminish significantly before any US liquefied natural gas (LNG) can be exported. Keep reading →
We’ll let you be the judge of which is which in today’s good, bad and ugly smart meter round up, which will fill you in on everything from the latest opt outs, roll outs and left outs – to sabotage and another conspiracy theory.
ROLL OUTS Keep reading →
How the renewable energy industry copes with the loss of incentives this year will test its maturity and the success of the stimulus funding.
In many ways, the renewable energy industry is facing a pivotal moment as the 1603 grant program is set to expire this year, the $2.3 billion for the 48C advanced manufacturing tax credit has already been allocated and the Department of Energy has completed its work of handing out more than $36 billion in its loan guarantee program. Keep reading →
