Energy

Bloomberg Home energy use is finally exciting to people. Unfortunately for the traditional utilities, it’s not because of them. A combination of new technology and a push toward low-carbon energy has caused customers at Europe’s largest and most-established utilities to flee. The average annual rate of leavers is nearly 12 percent, more than double the rate a decade ago, according ...

Bloomberg Reliance Industries Ltd., owned by India’s richest man Mukesh Ambani, is considering entering the power-storage business with its partner BP Plc. to expand into the country’s growing renewable energy sector, according to two people with knowledge of the plan. The companies are considering a plan to set up energy-storage projects near solar- and wind-energy installations, the people said, asking ...

KHOBAR / Reuters Saudi Arabia has issued a regulatory framework for electricity consumers to operate their own, small-scale solar power generating systems and export unused power to the national grid, the government said on Monday. The rules will come into force next July 1 and cover small photovoltaic facilities with generating capacity of no more than 2 megawatts, the Electricity ...

Bloomberg Sempra Energy is the mystery third bidder for Oncor Electric Delivery Co. that’s competing with Warren Buffett’s Berkshire Hathaway Inc. and Paul Singer’s Elliott Management Corp., according to people familiar with the matter. San Diego-based Sempra has made a $9.3 billion offer for the Texas utility, said the people, who declined to be identified because the matter is not ...

Bloomberg Private equity firm Energy Capital Partners and a consortium of investors struck a deal to buy US power generator Calpine Corp. for $5.6 billion in cash. Calpine investors will get $15.25 a share, the Houston-based company said in a statement, 13 percent more than the closing price. Including debt, the deal is valued at more than $17 billion. The ...

Bloomberg Aviva Plc and China Resources Power Holdings Co. are among companies considering bids for Statkraft AS’s stakes in its offshore UK wind farms, people familiar with the matter said, amid a surge in interest for Europe’s green energy assets. Macquarie Group Ltd. and Copenhagen Infrastructure Partners K/S are also weighing offers, the people said, asking not to be identified ...

Bloomberg Kuwait will issue a tender to build the estimated $1.2 billion Dibdibah solar-power plant in the first quarter of 2018 as part of the country’s plans to produce 15 percent of power from renewable energy by 2030. OPEC’s fifth-biggest oil producer set a Sept. 7 deadline for companies to express interest in the 1 gigawatt project, Shukri AbdulAziz Al-Mahrous, ...

Bloomberg Britain’s goodbye to fossil-fuel cars by 2040 could boost the need for dirtier natural gas-powered stations. The government’s goal to replace gasoline and diesel cars with those powered by electricity could see the construction of so-called open-cycle gas stations, said Carsten Poppinga, senior vice president of trading and origination at Statkraft AS, the Norwegian utility that operates hydro power ...

Bloomberg Natural gas is about to get a glimpse of its future role in the US power mix as solar energy’s backup. During the upcoming August 21 eclipse, operators of giant solar fields from California to the Carolinas will cede market share to fast-start natural gas generators as well as hydroelectric plants and other sources to fill the gaps as ...

Bloomberg Centrica Plc, Britain’s biggest supplier of power and natural gas, wants the nation to retain influence on European Union energy policy after Brexit because the country’s prices will be set by neighboring markets. “Our imports are growing and prices are set by the European market,” said Iain Conn, chief executive officer of the Windsor, England-based utility that last week ...