Energy

BLOOMBERG The UK may need to overhaul its renewable energy subsidy auctions to deliver on its net zero target, according to the head of utility SSE PLC. While Britain has long been the world leader in offshore wind power, projects have been put at risk by rapidly falling subsidies that can’t match rising prices. Swedish developer Vattenfall AB shelved a ...

BLOOMBERG Who is responsible for the cleanup of China’s air and water? What is the impact of wildfire smoke on your health? And why is free electricity a problem for solar? Every week on Bloomberg Green’s Zero podcast, Akshat Rathi invites guests to explore the tactics and technologies taking us to a world of zero emissions. Here are some recent ...

BLOOMBERG Investors in carbon offsets are sounding the alarm as millions of tainted units look set to enter the market. A plan by a Belarusian trade group to sell 2 million Russian carbon credits from a defunct United Nations programme has been slammed by climate experts and trading veterans. The worry now is that such offsets, known as emissions reduction ...

BLOOMBERG  At a port across from Gibraltar, two European monarchs made a rare joint appearance in June to bestow their imprimatur on a bold and risky endeavour. Standing alongside freight ships in Algeciras, King Felipe VI of Spain and King Willem-Alexander of the Netherlands inaugurated a new maritime corridor. The critical cargo that attracted the attention of modern royalty was: ...

BLOOMBERG China is on a natural gas shopping spree, and officials are happy for importers to keep striking deals even after a global energy crisis has eased. The government continues to back efforts by state-owned buyers to sign long-term contracts and even invest in export facilities, in order to bolster energy security through the middle of the century, according to ...

BLOOMBERG European natural gas logged its biggest monthly gain since last summer, near the height of the region’s energy crisis, following the most volatile stretch for trading this year. Benchmark futures ended in June more than 30% higher, after prices spiked almost 8%. It’s the first monthly increase since March and the largest jump since last July. The past few ...

BLOOMBERG Leader Energy Holding Bhd is preparing for an initial public offering in Malaysia and is seeking to raise as much as       2 billion ringgit ($433 million), according to people with knowledge of the matter, in what would be the country’s biggest first-time share sale since 2017. The Kuala Lumpur-based power company plans to submit its draft prospectus to the ...

BLOOMBERG AGL Energy Ltd said it would massively expand its production of clean energy as it abandons coal-fired power plants. The company will spend as much as A$10 billion ($6.9 billion) of its own money to build new facilities, including with debt-financing, Chief Financial Officer Gary Brown said. The Australian coal giant, which came under attack from billionaire climate activist ...

BLOOMBERG  Shell Plc sees a long-term role for natural gas in the world’s energy mix and aims to expand in key growth markets as Chief Executive Officer Wael Sawan revises the company’s strategy. Liquefied natural gas (LNG) teams are being urged to do more business in China and India, and the company is providing higher bonuses for deals struck in ...

BLOOMBERG  Severe power shortages in northern Vietnam are beginning to ease, allowing manufacturers to extend operating hours after blackouts curtailed production. Thousands of factories in the region, which houses plants owned by Samsung Electronics Co and suppliers to iPhone-maker Apple Inc, have gone without sufficient power since nationwide outages began last month. Northern provinces, including Bac Giang, have been worst ...