Energy

  Bloomberg Electricite de France SA (EDF) extended maintenance halts at two nuclear reactors by four months and warned it may have to carry out lengthy repairs at seven others next year, further straining European power supplies. The world’s largest nuclear fleet has suffered prolonged shutdowns this year that have left Europe even more reliant on natural gas at a time ...

Bloomberg Germany’s first liquefied natural gas terminal is about to arrive on the country’s north coast, the first of several specialist tankers Berlin is counting on to ease its energy crisis. The Hoegh Esperanza, a floating storage and regasification unit, or FSRU, is scheduled to land at Wilhelmshaven on Saturday, according to the German Economy Ministry. The vessel, which converts ...

Bloomberg Octopus Energy Ltd. signed a power-purchase agreement with Shell Energy Europe Ltd. to buy electricity from what will be the world’s largest offshore wind farm once built. Shell, which has offtake agreements for 20% of the energy produced by the Dogger Bank project off northeast England, will supply Octopus with as much as 2.4 terawatt-hours a year, starting in ...

Bloomberg The UK’s National Grid Plc will run a test of one of the country’s coal-fired power generators that’s being kept in reserve to boost supplies this winter. A Drax Group Plc unit will start up and generate as much as 300 megawatts as the grid operator checks that contingency tools are ready and working if needed. Temperatures plummeted to ...

  Bloomberg Australia passed a law to cap domestic prices of natural gas to limit the impact of soaring global costs on local power bills, ignoring protests from the nation’s powerful energy exporters. At a special sitting, Australia’s parliament passed legislation to cap wholesale gas prices for 12 months. The government also agreed with state and territory leaders to impose ...

  Bloomberg California will spend $2.9 billion building out its network of electric vehicle chargers and hydrogen fueling stations as the state moves to phase out fossil fuel-burning cars and trucks. The California Energy Commission said it would more than double the 80,000 public chargers already deployed across the state and keep the city on track to reach its goal ...

  Bloomberg Scientists in California have made a key breakthrough in nuclear fusion, a technology with the potential to transform the global energy landscape. Researchers at the US Department of Energy’s Lawrence Livermore National Laboratory near San Francisco were able produce a fusion reaction that generated more energy than it consumed. Fusion is the same process that powers stars and ...

  Bloomberg France and Spain said they will move ahead with a 2.5 billion euro ($2.6 billion) hydrogen pipeline, easing past tensions over an alternative link as they seek to boost their status as European energy suppliers. The project will connect Portugal and Spain with France to transport about 10% of the bloc’s green hydrogen demand by 2030. French President ...

  Bloomberg India unveiled a 2.44 trillion rupee ($29.6 billion) plan to build transmission lines to connect renewable generation, as it aims to nearly triple its clean-power capacity by 2030. The project will connect solar plants in the sun-drenched deserts of Rajasthan and Gujarat and wind farms in Tamil Nadu to the national network, the power ministry said in a ...

  Bloomberg Trafigura group earned a record $7 billion in its last financial year, more than the previous four years combined, as the commodities trader cashed in on wild price swings and arbitrage opportunities driven by Russia’s invasion of Ukraine. Earnings more than doubled in the 12 months through September, Trafigura said, while revenue surged to $318.5 billion. The oil ...