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Bloomberg Australia’s new government, elected with a promise to accelerate a shift away from fossil fuels, is holding talks with oil and gas giants to ease an energy squeeze that’s delivered a first major test. Officials are in discussions with companies on “how we can alleviate the immediate real pressure on businesses and households,” after gas prices surged and following …

  Bloomberg Sweden, known for its long dark winters with barely any daylight, is seeing a solar power boom. Harnessing whatever sunshine the country gets is emerging as the quickest solution to fill part of the void left by two closed nuclear reactors in southern Sweden, where the biggest cities and industries are located. With shortages piling up in the …

  Bloomberg Duke Energy Corp planned to close its last six coal power plants in the Carolinas by 2030 to accelerate the company’s carbon-cutting goals. South Carolina regulators said no—ordering the US utility to keep the plants open longer. The decision sets up a showdown as Duke Energy appeals a regulatory response that threatens the company’s preferred plan to speed …

  Bloomberg British consumers will face another sharp jump in their power and gas bills just before winter, adding to surging costs of almost everything from food to petrol. The energy price cap is likely to soar to a record £2,800 ($3,499) in October, Ofgem CEO Jonathan Brearley told a panel of lawmakers. That will send about 12 million households …

Bloomberg North Korea appears to have fired an intercontinental ballistic missile (ICBM) in a defiant show of force just hours after US President Joe Biden wrapped up a visit to the region, testing his efforts to strengthen defense ties with South Korea and Japan. South Korea said a suspected ICBM reached an altitude of about 540 kilometres (335 miles) and …

  Bloomberg Europe’s ambitious plan to walk away from Russian natural gas and replace a chunk of it with tanker-borne imports faces a major obstacle: getting it to where it’s needed most without huge price discrepancies. Even as record amounts of liquefied natural gas (LNG) land on Europe’s shores, the lack of interconnectors from key import terminals in the west …

Bloomberg French electricity prices climbed after the region’s biggest producer cut its nuclear output target for a third time this year, the latest sign that the region’s power crisis is worsening. Less output from Electricite de France SA’s fleet, the backbone of Europe’s integrated power system, is sending prices higher just as soaring inflation is pushing up costs for everything …

  Bloomberg Uniper SE plans to keep importing natural gas from Russia for another decade, even as Europe seeks to cuts its energy dependency on the country. The German utility — one of the continent’s largest buyers of Russian gas — has contracts with Gazprom PJSC that will expire in the middle of 2030s, CEO Klaus-Dieter Maubach said at Uniper’s …

  Bloomberg European natural gas futures rose, with traders focused on supplies from Russia and the continent’s imports of liquefied fuel. The European Union said that companies can keep importing Russian gas without breaching sanctions, easing concerns that shipments from the bloc’s biggest provider might be cut amid a payment dispute. But the market is grappling with the implications of …

  Bloomberg After nearly half a century expanding its bread-and-butter business into one of the world’s largest metal smelting operations, Korea Zinc Co is setting its sights on renewable energy to cut costs and drive growth. The Seoul-headquartered zinc, gold, silver and lead smelter plans to invest $6.6 billion over the next eight years developing solar and wind power generation …